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Jindal Stainless partially divests 4.87% stake in Jindal Coke

04 Apr 2024 Evaluate

Jindal Stainless has partially divested its stake by selling 15,80,000 number of equity shares of the face value of Rs 10 each at a price of Rs 231 per equity share, representing 4.87% of the paid-up equity share capital of Jindal Coke (JCL) to JSL Overseas (JOL), the majority shareholder in JCL, on March 28, 2024. The completion date for the divestment of the balance stake is anticipated to be on or before September 30, 2024.

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.

Peers
Company Name CMP
JSW Steel 1230.00
Tata Steel 179.10
Steel Authority 174.00
Jindal Stainless 729.00
APL Apollo Tubes 2119.90
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