Arti Jindal, Sajjan Jindal (Trustee for Sajjan Jindal Family Trust),Naveen Jindal has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.
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Awaiting price reaction for this filing.
Three members of the Jindal promoter family - Arti Jindal, Sajjan Jindal (as Trustee of Sajjan Jindal Family Trust), and Naveen Jindal - acquired 2,51,90,330 equity shares (3.058% of diluted share capital) of Jindal Stainless Limited from Smt. Savitri Devi Jindal on June 13, 2025. The shares were transferred by way of gift and qualify as an inter-se transfer among promoter group persons under Regulation 10(1)(a)(ii) of SEBI (SAST) Regulations, 2011, making the acquirers exempt from making an open offer. Post-acquisition, Arti Jindal holds 1.104%, Naveen Jindal holds 1.777%, and the Sajjan Jindal Family Trust holds 0.181% of the company. Smt. Savitri Devi Jindal's holding dropped from 3.090% to just 0.027%. The disclosure was filed with both NSE and BSE on June 17, 2025.
This is an internal promoter family restructuring with no change in total promoter group stake and no cash transaction involved, so it is largely neutral for shareholders. However, it consolidates shareholding among the next generation of Jindal family members and reduces the patriarch's (Savitri Devi Jindal) direct holding in the company.