Jindal Stainless has completed acquisition of remaining 46% equity stake in Chromeni Steels (CSPL). Consequently, CSPL has become a wholly-owned subsidiary of the Company with effect from June 15, 2024.
As disclosed at the time of acquisition of 54% equity stake, this acquisition of CSPL would enable the Company to increase its cold rolled capacity in its product mix which will strengthen the Company’s presence in the value-added segment in the long term. Now, acquisition of remaining 46% equity stake will further help in better control, uniformity of policies and greater synergies between the two companies.
Jindal Stainless (JSL) is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.
Company Name | CMP |
---|---|
Tata Steel | 172.55 |
JSW Steel | 920.00 |
SAIL | 144.00 |
Jindal Stainless | 810.45 |
Jindal Saw | 550.00 |
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