Jindal Stainless acquires 46% stake in Chromeni Steels for Rs 277.90 crore, making it a wholly-owned subsidiary.
Jindal Stainless Limited acquires remaining 46% stake in Chromeni Steels for Rs 277.90 crore, making it a wholly-owned subsidiary. The move aims to improve control, policy uniformity, and synergies between the companies, strengthening Jindal Stainless' presence in the value-added segment. The acquisition includes payment of Rs 188.19 crore for equity purchase and Rs 89.71 crore for CSPL's debt.
June 14, 2024
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