Jindal Stainless acquires stake in Mynd Solutions

Jindal Stainless Limited (JSL) announced today that its board has approved the acquisition of a 5.03% stake in Mynd Solutions Private Limited, operator of the 'M1xchange' TReDS platform. The acquisition will cost ₹102.7 crore, with a total blended cost of ₹154 crore for a 9.62% stake when including the stake held by JSL's subsidiary, Jindal Stainless Steelway Limited (JSSL). JSL aims to empower its MSME and non-MSME vendors with better access to supply chain financing through this investment. Mynd Solutions, established in 2002, facilitates invoice discounting for over 48,000 MSMEs and boasts a turnover of ₹56.5 crore for FY24. The acquisition is expected to be completed in the first quarter of FY26.