Arti Jindal, Sajjan Jindal (Trustee for Sajjan Jindal Family Trust), Naveen Jindal has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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Awaiting price reaction for this filing.
Three members of the promoter group — Arti Jindal, Sajjan Jindal (as Trustee for Sajjan Jindal Family Trust), and Naveen Jindal — plan to acquire 2,51,90,330 equity shares (3.058% of paid-up capital) of Jindal Stainless Limited from Savitri Devi Jindal by way of gift. The proposed date of acquisition is on or after 9th June 2025, and the shares are valued at the 60-day volume-weighted average price of Rs. 605.15 per share (no cash consideration since it is a gift). The transaction qualifies as an inter-se promoter group transfer under Regulation 10(1)(a)(ii) of the SEBI Takeover Regulations, so no open offer obligation is triggered. After the transfer, Savitri Devi Jindal's holding drops from 3.09% to 0.03%, while the acquirers collectively go from 0.005% to 3.063%.
This is a reshuffle of shares within the promoter family and does not change the total promoter group stake, which remains at 60.88%. Shareholders should see no impact on stock price or control of the company; it is essentially an estate planning move within the promoter family.