Jindal Stainless has received approval to make investment aggregating to Rs 5 lakh for acquisition of entire equity shares of JSL Ferrous. The effect of the proposed acquisition would be that JSL Ferrous will become wholly owned subsidiary of the Company. The object of the proposed acquisition is to explore the options for expansion at the Company's Jajpur plant in Odisha. The board of directors at its meeting held on October 26, 2021 has approved the same.
Jindal Stainless is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.