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.