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ICICI Direct Report
The board of directors of Jindal Stainless Ltd. and Jindal Stainless (Hisar) Ltd. have accepted the recommendations of the respective board committees and approved the merger of Jindal Stainless Hisar into Jindal Stainless.
The transaction between Jindal Stainless (Hisar) and Jindal Stainless is an all-equity merger.
As per the approved share swap ratio, 195 equity shares of Jindal Stainless will be issued for every 100 equity shares of Jindal Stainless Hisar.
Furthermore, as per the proposed structure, the mobility business of JSL Lifestyle Ltd, a domestic subsidiary of JSHL, would be merged into Jindal Stainless.
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