Jindal Stainless completes divestment of Jindal Coke stake

Jindal Stainless announced the completion of its divestment of a 26% equity stake in Jindal Coke Limited (JCL), according to a regulatory filing. The decision was made after JCL offered to buy back its equity shares. Jindal Stainless tendered its remaining 21.13% stake in the buyback, which was accepted on March 6, 2025. Previously, the company divested 4.87% equity stake to JSL Overseas Limited. The total consideration received from the combined transactions is approximately INR 194.89 crore, comprising INR 36.49 crore from the sale to JSL Overseas and INR 158.40 crore from the buyback. As a result of this transaction, JCL is no longer an associate company of Jindal Stainless.