Jindal Stainless Completes 26% Stake Divestment in Jindal Coke, Netting ₹1.95 Billion
Jindal Stainless Limited (JSL) has completed the divestment of its 26% stake in Jindal Coke Limited (JCL) in two phases. The first phase involved selling 4.87% to JSL Overseas Limited for ₹36.49 crore. The remaining 21.13% was tendered in a buyback offer by JCL, yielding ₹158.40 crore. The total consideration from this divestment amounts to ₹194.89 crore. Prior to the divestment, JCL contributed 4.10% to JSL's consolidated turnover and 4.76% to its net worth for the fiscal year ending March 31, 2024. This strategic move may allow JSL to focus on its core stainless steel business and potentially improve its financial position.

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Jindal Stainless Limited (JSL) has successfully concluded the divestment of its entire 26% stake in Jindal Coke Limited (JCL), marking a significant corporate move that could potentially streamline its operations and bolster its financial position.
Divestment Details
The stake sale was executed in two phases:
Initial Partial Divestment: On April 3, 2024, JSL sold a 4.87% equity stake to JSL Overseas Limited for approximately ₹36.49 crore.
Buyback Participation: The remaining 21.13% stake was tendered in a buyback offer initiated by Jindal Coke Limited. On March 6, 2025, JSL confirmed that all shares tendered were accepted in this buyback, fetching about ₹158.40 crore.
Financial Implications
The total consideration received from this divestment amounts to approximately ₹194.89 crore (₹1.95 billion). This transaction represents a strategic move for Jindal Stainless, potentially providing additional capital for core business activities or debt reduction.
Impact on Jindal Stainless
Prior to the divestment, Jindal Coke Limited played a notable role in Jindal Stainless' consolidated financials:
Metric | JCL's Contribution | Percentage of JSL's Consolidated Figures |
---|---|---|
Turnover (FY ending March 31, 2024) | ₹1,573 crore | 4.10% |
Net Worth (as of March 31, 2024) | ₹684 crore | 4.76% |
Corporate Governance and Compliance
The divestment process adhered to regulatory requirements, with Jindal Stainless making timely disclosures to the stock exchanges as per SEBI Listing Regulations. The company provided updates at various stages of the divestment, ensuring transparency for its shareholders and the market.
Conclusion
With this divestment, Jindal Coke Limited ceases to be an associate of Jindal Stainless Limited. This move aligns with JSL's strategic objectives, potentially allowing the company to focus on its core stainless steel business and optimize its corporate structure. Investors and market analysts will likely keep a close watch on how Jindal Stainless utilizes the proceeds from this significant transaction in the coming months.
Historical Stock Returns for Jindal Stainless
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
+0.49% | +3.58% | -12.49% | -26.17% | -16.81% | +1,816.21% |