Acquisitions14 Feb 2026, 11:22 am
Jindal Steel Ltd. to Acquire 4.87% Stake from Gagan Infraenergy Limited by Skyhigh Sustainable Limited for Rs. 9,09,55,411/-
AI Summary
Skyhigh Sustainable Limited, a wholly-owned subsidiary of Gagan Infraenergy Limited, proposes to acquire 4,97,09,952 equity shares carrying 4.87% voting rights of Jindal Steel Limited from Gagan Infraenergy Limited. This acquisition is through an off-market inter-se transfer between wholly-owned subsidiary and its holding company. The acquisition price is Rs. 9,09,55,411/- for the transfer of 4,97,09,952 shares. The rationale behind this proposed transfer is the consolidation of the target company shareholding in one entity. The acquisition price would not be higher by more than 25% of the price computed in Point 6.
Key Highlights
- Skyhigh Sustainable Limited to acquire 4,97,09,952 equity shares of Jindal Steel Limited.
- The acquisition is through an off-market inter-se transfer between wholly-owned subsidiary and its holding company.
- The acquisition price is Rs. 9,09,55,411/- for the transfer of 4,97,09,952 shares.
- The rationale behind this proposed transfer is the consolidation of the target company shareholding in one entity.
- The acquisition price would not be higher by more than 25% of the price computed in Point 6.