Jindal Stainless Limited has approved a composite scheme of amalgamation involving the company and its wholly-owned subsidiaries: Chromeni Steels Limited, Rabirun Vinimay Private Limited, JSL Super Steel Limited, and Jindal United Steel Limited. The board also approved the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The amalgamation scheme is subject to necessary approvals from shareholders, creditors, and regulatory authorities, with an appointed date of April 1, 2027.
Board Approves Amalgamation Scheme and Financial Results
Jindal Stainless Limited announced today, October 22, 2026, that its Board of Directors has approved a composite scheme of amalgamation. This scheme involves the company (Transferee Company) and its wholly-owned subsidiaries: Chromeni Steels Limited, Rabirun Vinimay Private Limited, JSL Super Steel Limited, and Jindal United Steel Limited (collectively referred to as the ‘Transferor Companies’). The appointed date for the scheme is set as April 1, 2027, subject to requisite approvals from shareholders, creditors, and regulatory authorities, including the National Company Law Tribunal.
Financial Results for Q2 FY27
In addition to the amalgamation, the Board also considered and approved the unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half-year ended September 30, 2026. The Limited Review Report(s) for these results are enclosed. These financial results will be published in newspapers as per regulations.
Scheme Details and Rationale
The scheme, aimed at simplifying the group structure, optimizing resource utilization, and enhancing operational efficiency, will be filed with the Stock Exchanges for disclosure. Further details regarding the entities involved, their financial standing, business areas, and the rationale for amalgamation are provided in Annexure 2. The scheme is designed to reduce inter-company transactions, strengthen corporate governance, and facilitate better decision-making, ultimately creating long-term value.
Source: BSE
