The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
JINDALSTEL · price
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Awaiting price reaction for this filing.
Skyhigh Sustainable Limited, a wholly-owned subsidiary of Gagan Infraenergy Limited (both part of the promoter group), proposes to acquire 4,97,09,952 equity shares (4.87% of paid-up capital) of Jindal Steel Limited from its holding company Gagan Infraenergy Limited. The transfer is an off-market inter-se transaction among promoter group entities, intended purely to consolidate the Jindal Steel shareholding under one promoter-group entity. The total consideration is Rs. 9,09,55,411, and the acquisition is scheduled on or after February 20, 2026. The filing cites Regulation 10(1)(a)(iii) of SEBI (SAST) Regulations, exempting the acquirer from the open offer requirement since both transferor and transferee belong to the same promoter group. The 60-day VWAP is Rs. 1,059.67, and the acquirer has confirmed the price does not exceed 125% of this benchmark.
No change in ultimate promoter control or public shareholding — this is a reshuffle within the promoter family, so it is neutral for stock price and minority shareholders. No open offer obligation is triggered.