JSL, Jindal Stainless (Hisar) boards approve merger in share swap of 1:1.95

Move to expand turnover of merged entity to Rs 20,000 cr, make it the only Indian firm in global top-10 list of stainless steel makers

The Boards of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) today approved the merger of JSHL into JSL in a share swap ratio of 1:1.95.

“The merger of JSHL in to JSL will induce a simplified capital structure, expanding the turnover of the merged business to Rs 20,000 crore. With 1.9 MTPA melt capacity, the merged entity will be the only Indian company in the league of top 10 stainless steel companies in the world,” Abhyuday Jindal, managing director at JSL and JSHL was quoted as saying.

Post the merger, JSL will be the single listed entity