Skyhigh Sustainable Limited, a wholly-owned subsidiary of Gagan Infraenergy Limited, has acquired 4,97,09,952 equity shares of Jindal Steel Limited (formerly Jindal Steel & Power Limited). This transaction, executed on February 20, 2026, represents an acquisition of 4.87% of the total diluted share capital. The transfer occurred via an Off-Market transaction as an inter-se transfer within the promoter group structure.
Acquisition Details and Regulatory Compliance
Skyhigh Sustainable Limited has formally disclosed the acquisition of a substantial stake in Jindal Steel Limited (JSJL), formerly known as Jindal Steel & Power Limited. The transaction involved the acquisition of 4,97,09,952 equity shares. This move was undertaken pursuant to an exemption available under the relevant regulations, signifying an internal reorganization within the promoter structure.
Shareholding Context
Prior to this acquisition, the acquirer and its Persons Acting in Concert (PAC) held zero shares. Following the completion of the transaction on February 20, 2026, Skyhigh Sustainable Limited’s resulting holding stands at 4,97,09,952 equity shares, translating to 4.87% of the total share capital and the total diluted share capital of JSJL.
The mode of acquisition was strictly Off-Market, described specifically as an inter-se transfer. The acquired securities are stated to be Equity Shares.
Target Company Capital Structure
The filing confirms the capital structure of Jindal Steel Limited both before and after the transfer. The Equity share capital / total voting capital of the Target Company (TC) remains constant at Rs. 1,02,00,88,097/-, comprising 1,02,00,88,097 equity shares of Re. 1/- each.
Promoter Group Confirmation
It is confirmed that Skyhigh Sustainable Limited belongs to the Promoter/Promoter group of the Target Company. The extensive list of existing promoters and the promoter group of JSJL as of February 13, 2026, detailed in Annexure A, confirms the intricate existing structure involving various individuals, HUFs, Trusts, and Body Corporates, including Gagan Infraenergy Limited holding 4.87% of the share capital.
Source: BSE
