M&A
Jindal Stainless to acquire residual 46% stake in Chromeni Steels for Rs.278-Cr
Publicly-listed Jindal Stainless Ltd (JSL) is to acquire the remaining 46% stake in Chromeni Steels Pvt Ltd (CSPL) for INR 277.90 crore in cash, including INR 188.19 crore towards equity purchase and INR 89.71 crore towards Chromeni Steel’s debt. Post-acquisition, Chromeni Steel will become a wholly-owned subsidiary of Jindal Stainless.In May 2024, Jindal Stainless acquired 54% equity stake in Chromeni Steels, which owns a 0.6 MTPA cold rolling mill located in Mundra, Gujarat, through a structured indirect acquisition deal through Evergreat International Investment Pte Ltd, Singapore.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
