Jindal Stainless might complete de-merger by March end

Interest on loans of Rs 7,800 cr has hit 14%; not feasible to repay debt without demerger, says firm

Ratan Jindal- controlled Jindal Stainless Group, which has manufacturing units at Hisar (Haryana) and Odisha's Kalinganagar, is giving final touches to its de-merger. The de-merger which has involved the carving out of two separate entities -- Jindal United Steel Ltd (JUSL) and Jindal Coke Ltd (JCL) -- is expected to be completed by March end.

As of now, two flagship companies -- Jindal Stainless Hissar Ltd and Jindal Stainless Ltd -- are listed entities. The move behind the de-merger is to apportion debt between the segregated entities.

"Erosion of net worth, accumulating losses and rising interest rates have prompted us