The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Skyhigh Sustainable Ltd
JINDALSTEL · price
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Skyhigh Sustainable Limited, a wholly-owned subsidiary of Gagan Infraenergy Limited (both part of the promoter group), has acquired 4,97,09,952 equity shares (4.87% voting rights) of Jindal Steel Limited from Gagan Infraenergy through an off-market inter-se transfer on February 20, 2026. The total consideration paid was approximately Rs. 9.10 crore (roughly Rs. 18.30 per share). The transaction is exempt from the open offer requirement under Regulation 10(1)(a)(iii) of SEBI SAST Regulations since it is between a wholly-owned subsidiary and its holding company. The stated rationale is consolidation of the target company's shareholding within a single promoter-group entity, and the aggregate promoter and promoter group holding remains unchanged before and after the deal.
This is purely an internal promoter-group reshuffle with no impact on total promoter shareholding or public float, so it is largely neutral for shareholders and should not trigger any open offer obligation or materially affect the stock price.