New Delhi: Jindal Stainless on Wednesday said it aims to complete divestment of its entire 26 per cent stake in Jindal Coke by September this year. In the first tranche, the company has offloaded 4.87 per cent shares in Jindal Coke for over Rs36.49 crore. These shares were picked up by JSL Overseas at the same price, according to a regulatory filing. At the same time, Jindal Stainless has acquired a majority stake in Spanish entity lberjindal.
In January, the board of the company gave in-principle approval for the acquisition of up to 100 per cent stake in Iberjindal SL, a subsidiary company based in Spain, and divest 26 per cent equity stake held in its associate company Jindal Coke Ltd (JCL). JSL executed a share purchase agreement with JOL on March 26, 2024.
