Savitri Devi Jindal to acquire Jindal Stainless shares

Savitri Devi Jindal, a member of the promoter group of Jindal Stainless (BSE: JSL), intends to acquire 2,51,90,330 equity shares, or approximately 3.058% of the company's share capital, through a gift from Deepika Jindal and Abhyuday Jindal. The acquisition, which falls under Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, is an inter-se transfer within the promoter group and is thus exempt from an open offer. As of the latest disclosures, the promoter and promoter group collectively hold a substantial portion of Jindal Stainless, with significant shareholdings by JSL Overseas Holding Limited and Virtuous Tradecorp Private Limited. The transaction is expected to take place on or after March 28, 2025.