JSL Overseas Holding Limited, a promoter group entity of Jindal Stainless Limited, has disclosed the acquisition of additional equity shares in the stainless steel manufacturer through open market purchases. The transaction was disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Share Acquisition Details

JSL Overseas Holding Limited acquired a total of 4,34,303 equity shares of Jindal Stainless Limited through market purchases executed across two trading sessions:

Shareholding Position

The acquisition resulted in an increase in JSL Overseas' shareholding in Jindal Stainless Limited:

The percentage calculations are based on Jindal Stainless Limited's total equity share capital of Rs. 164,88,39,176 divided into 82,44,19,588 equity shares of Rs. 2 each.

Regulatory Compliance

The disclosure was made in accordance with SEBI regulations governing substantial acquisition of shares and takeovers. JSL Overseas Holding Limited, based in Mauritius, belongs to the promoter group of Jindal Stainless Limited and acts in concert with numerous other promoter group entities.

Company Information

Jindal Stainless Limited's equity shares are listed on both the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE). The company maintains its registered office at Jindal Centre, 12 Bhikaji Cama Place, New Delhi. The acquisition represents a marginal increase in the promoter group's stake in the stainless steel manufacturer through open market transactions.

Jindal stainless Limited has announced the results of its postal ballot conducted through electronic voting, with all three proposed resolutions for independent director re-appointments receiving overwhelming shareholder approval. The results were declared on March 27, 2026, following the voting period that concluded on March 25, 2026.

Postal Ballot Overview

The postal ballot process was conducted in accordance with Section 110 of the Companies Act, 2013, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company utilized electronic voting facilities provided by MUFG Intime India Pvt. Ltd for the voting process.

Resolution Results

All three agenda items involved the re-appointment of independent directors for second terms of three consecutive years each. The resolutions were classified as special resolutions requiring higher approval thresholds.

Resolution 1: Ms. Shruti Shrivastava Re-appointment

Ms. Shruti Shrivastava (DIN: 08697973) secured re-appointment as an independent director with 97.75% votes in favor out of 712,351,720 total votes polled, representing 86.41% of outstanding shares.

Resolution 2: Dr. Aarti Gupta Re-appointment

Dr. Aarti Gupta (DIN: 01668171) received the highest approval rate at 99.10% for her re-appointment as an independent director for a second term.

Resolution 3: Mr. Ajay Mankotia Re-appointment

Mr. Ajay Mankotia (DIN: 03123827) secured 99.34% approval for his re-appointment as an independent director, receiving strong support across all shareholder categories.

Voting Process Details

The electronic voting process was conducted exclusively through MUFG Intime India Pvt. Ltd's platform, with no physical postal ballot forms received during the voting period. A total of 882 shareholders participated in the electronic voting process across all three resolutions. The scrutinizer's report confirmed that 32,847 votes were classified as invalid or abstained across all resolutions.

Regulatory Compliance

The postal ballot results have been submitted to BSE Limited and National Stock Exchange of India Ltd in compliance with regulatory requirements. The company's Head-Legal, Company Secretary & Compliance Officer, Navneet Raghuvanshi, signed the official communication to the stock exchanges confirming the successful completion of the postal ballot process.