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JSHL to merge with Jindal Stainless to form ‘India’s largest stainless steel co’

In a joint statement, the companies claimed the merger will create a mega stainless steel entity that will be among the top-10 stainless steel companies in the world and the largest stainless steel company in India.

By: ENS Economic Bureau | New Delhi | December 30, 2020 3:00:17 am
As per the proposed structure, the mobility business of JSL Lifestyle Ltd, a subsidiary of JSHL, would be merged into JSL.

Jindal Stainless (Hisar) Ltd (JSHL) on Tuesday said its board has approved the company’s merger into the country’s largest stainless steel maker Jindal Stainless Ltd (JSL).

Having a total melting capacity of 0.8 million tonne per annum (MTPA), Hisar-based JSHL is the largest specialty stainless steel producer in India with a diversified value-added product portfolio. In a BSE filing, the company said its “board has considered and approved…amalgamation of JSHL (the amalgamating company into and with Jindal Stainless Ltd”.

In a joint statement, the companies claimed the merger will create a mega stainless steel entity that will be among the top-10 stainless steel companies in the world and the largest stainless steel company in India. As per the proposed structure, the mobility business of JSL Lifestyle Ltd, a subsidiary of JSHL, would be merged into JSL. —With PTI

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