Jindal Stainless announced the acquisition of the remaining 46 percent stake in Chromeni Steels Private Ltd (CSPL) for Rs 278 crore.
As a result, CSPL has become a wholly-owned subsidiary of Jindal Stainless Ltd (JSL) as of June 15, 2024, according to a company release.
The acquisition involves a total expenditure of Rs 278 crore, covering both the equity transfer and the payment of shareholders' debt.