Jindal Steel & Power’s step down wholly owned subsidiary --Jindal Steel and Power (Australia) Pty (JSPA) has purchased an additional 12.83% stake in Rocklands Richfield (Rocklands) during the offer period at a revised offer price of AUD 0.30 per share, thereby increasing its stake from 14.46% to 27.29%.
The on-market takeover offer for all of the shares in Rocklands Richfield (Rocklands), listed on Australian Stock Exchange was closed on July 05, 2011. The company during that period only acquired its additional stake.
Jindal Steel & Power, part of the $12 billion Jindal Group, is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.
