JSL Overseas Holding Limited, part of the promoter group, disclosed the acquisition of 8,15,607 equity shares of Jindal Stainless Limited (JSL) through open market purchases. This transaction, completed between February 20 and February 23, 2026, increased the promoter holding’s stake by 0.10%. Following the purchase, the total holding of JSL Overseas Holding Limited and its persons acting in concert now stands at 16.45% of JSL’s total voting capital.
Promoter Group Increases Stake in Jindal Stainless
JSL Overseas Holding Limited formally notified stock exchanges regarding an increase in its shareholding in the target company, Jindal Stainless Limited (JSL). The disclosure was made under the requisite regulations concerning Substantial Acquisition of Shares and Takeovers.
The acquirer, JSL Overseas Holding Limited, is confirmed to belong to the Promoter/Promoter Group of JSL. The disclosure confirms that all persons acting in concert (PACs) listed in Annexure -1 also belong to this same promoter group.
Details of Acquisition
The details of the recent acquisition are as follows:
- Shares Acquired: 8,15,607 shares carrying voting rights were acquired through market purchases.
- Percentage Increase: This represents an incremental acquisition of 0.10% of the total share capital and the total diluted share capital of JSL.
- Transaction Dates: The acquisition spanned two days: 237,676 shares on 20.02.2026 and 577,931 shares on 23.02.2026.
Holding Position Before and After Transaction
The acquisition resulted in a slight shift in the promoter group’s cumulative stake:
| Holding Category | Number of Shares | % w.r.t. Total Capital | % w.r.t. Total Diluted Capital |
|---|---|---|---|
| Holding Before Acquisition | 13,47,92,921 | 16.35 | 16.35 |
| Shares Acquired | 8,15,607 | 0.10 | 0.10 |
| Holding After Acquisition | 13,56,08,528 | 16.45 | 16.45 |
Target Company Capital Structure
The equity share capital structure of Jindal Stainless Limited remained consistent during the transaction period. Both before and after the said acquisition, the equity share capital was Rs. 1,648,839,176/-, divided into 824,419,588 equity shares of Rs. 2/- each.
Persons Acting in Concert
JSL Overseas Holding Limited confirmed that its Persons Acting in Concert (PACs) includes various family trusts, individuals, and corporate entities, all categorized under the Promoter Group. These entities are detailed in the attached Annexure -1, confirming the continuity of promoter control over the company.
This disclosure was authorized by Rathee Jugessur, Director of JSL Overseas Holding Limited, dated 24 February 2026.
Source: BSE
