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Jindal Stainless acquires 100% stake in Evergreat International Investment

05 Jun 2024 Evaluate

Jindal Stainless has acquired 100% stake of Evergreat International Investment Pte, Singapore (EIPL), thereby the company has acquired 54% equity stake in Chromeni Steels (CSPL). Consequently, EIPL has become a wholly owned subsidiary, and CSPL a step-down subsidiary of the Company with effect from June 04, 2024.

Earlier, the company had received the board’s approval to acquire a 54% equity stake in CSPL through acquisition of 100% equity stake of EIPL.

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 732.40
APL Apollo Tubes 2119.90
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