• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Tuesday, June 24, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Jindal Stainless (Hisar) to merge with Jindal Stainless (JSL) as one big entity

by Chhavideep Singh
January 1, 2021
in Business
Reading Time: 2 mins read
0
Jindal Stainless
TwitterWhatsappLinkedin
Jindal Stainless
Soure: Mindcube

Jindal Stainless (JSL) is one of India’s largest stainless steel conglomerates in India and most recently on Tuesday, the Jindal Stainless (Hisar), also known as JSHL has announced to get merged into its parent group, Jindal Stainless.

You might also like

Kazam Raises $6.2M Series B to Power India’s EV Charging Future

InCred Secures ₹250 Cr from Kamath Brothers Ahead of IPO

Truth Social Targeted in Cyberattack After U.S. Strikes on Iranian Nuclear Facilities

The decision taken by the companies is will resort to a simplified capital structure and will revaluate the turnover of the merged entity to over INR 20,000 crore, says Abhyuday Jindal, Managing Director, Jindal Stainless and Jindal Stainless (Hisar).

The MD also added that the merged company will have a combined melting capacity of 1.9 million tonnes per annum which together makes the entity, the only Indian conglomerate in the list of Top 10 stainless steel firms across the globe.

According to a report by Financial Express, Post-merger, Jindal Stainless will be the only single entity to be listed on the stock exchanges with 57% shareholding with the promoters and the remaining 43% shall be owned by the public.

Jindal Stainless (JSL) was founded back in the 1970s by Shri Om Prakash Jindal with the vision to remain inspired to innovate and enrich the lives of others. According to the company profile on CrunchBase, the annual turnover of the company as of March 2019 was USD 3.2 billion.

Furthermore, Financial Express mentions in its report that the swap ratio between JSHL and JSL will be 1:1.95, respectively. As per Bombay Stock Exchange, post this announcement, the shares of Jindal Stainless (Hisar) fell by 2.79% at INR 148.05 apiece and Jindal Stainless settled at INR 80.05 per share. As of today, Jindal Stainless is clocked at INR 76.20 on the National Stock Exchange.

The merger report mentions of a proposed structure where a mobility business of Jindal Stainless Lifestyle which is a domestic subsidiary of Jindal Stainless (Hisar) will be included in this merger whereas, the non-mobility business which is JSL Lifestyle will be spun out as a separate new entity. This new entity will be named as Jindal Lifestyle.

According to the mentioned report, post-merger restructuring, non-mobility business, Jindal Lifestyle and Jindal Stainless Steelway (JSSL) will operate as Indian subsidiaries and foreign subsidiaries of Jindal Stainless in Indonesia and Spain shall continue to be part of this merger and its business units shall operate under the merger Jindal Stainless (JSL), the company said on Tuesday.

The merger is subject to approvals from government authorities, statutory, shareholders, NCLT and concerned creditors. According to reports by the Financial Express, the merger is most likely to get concluded in the second half of 2021 or early 2022.

Tags: Jindal StainlessJindal Stainless (Hisar)Merger
Tweet54SendShare15
Previous Post

Microsoft claims Russian hackers accessed it’s Source Code

Next Post

FurnitureRoots aims to dominate the Hospitality & Export Furniture Industry In India & combines technology along with skill.

Chhavideep Singh

Hi! I'm Chhavideep, If you like reading about technology, business and start-ups, you've come to the right place. Catch me: [email protected]

Recommended For You

Kazam Raises $6.2M Series B to Power India’s EV Charging Future

by Ishaan Negi
June 24, 2025
0
Kazam Raises $6.2M Series B to Power India’s EV Charging Future

In a resounding vote of confidence for India’s green mobility ambitions, Kazam, one of the country’s fastest-growing EV energy-tech startups, has raised $6.2 million in Series B funding....

Read more

InCred Secures ₹250 Cr from Kamath Brothers Ahead of IPO

by Ishaan Negi
June 24, 2025
0
InCred Secures ₹250 Cr from Kamath Brothers Ahead of IPO

In a bold move that signals rising investor confidence in India's next-generation financial services, Nikhil Kamath and Nithin Kamath—the visionary co-founders of Zerodha and True Beacon—have acquired a...

Read more

Truth Social Targeted in Cyberattack After U.S. Strikes on Iranian Nuclear Facilities

by Harikrishnan A
June 24, 2025
0
Challenges Mount for Truth Social as Financial Struggles Emerge: Can Trump’s Social Platform Weather the Storm?

Tensions between Iran and the United States have escalated beyond the battlefield and into cyberspace, as Iranian-aligned hackers targeted former President Donald Trump’s social media platform, Truth Social,...

Read more
Next Post
FurnitureRoots aims to dominate the Hospitality & Export Furniture Industry In India & combines technology along with skill.

FurnitureRoots aims to dominate the Hospitality & Export Furniture Industry In India & combines technology along with skill.

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?