Completion of divestmen = Jindal Stainless Ltd

Code BSE: 532508 NSE:

Jindal Stainless Ltd completed the divestment of its entire 26% equity stake in Jindal Coke Ltd (JCL) through a buyback offer. Jindal Stainless Ltd tendered its remaining 21.13% stake in JCL, which was accepted. The total consideration received was approximately INR 194.89 Cr. JCL is part of the promoter group. Turnover of associate company as on March 31, 2024 (audited) = 1573 Cr (JCL) Total consideration of ~INR 194.89 Crore as below: - INR 36.49 Crore towards partial divestment of its equity stake to JSL Overseas Limited. -INR 158.40 Crore towards shares tendered and accepted in the said buyback offer by JCL