Jindal Steel Limited, a prominent player in the Indian steel industry, has announced a key appointment to its leadership team. The company's Board of Directors has approved the appointment of Mr. Rahul Arora as the Company Secretary & Compliance Officer in an interim capacity, effective immediately.

Board Approval and Appointment Details

The decision was made during a board meeting held on September 20, 2025, which commenced at 12:00 noon and concluded at 2:00 pm. The appointment was based on recommendations from the Nomination and Remuneration Committee, aligning with corporate governance best practices.

About Rahul Arora

Mr. Rahul Arora brings nearly a decade of experience in secretarial and compliance functions to his new role. An Associate Member of the Institute of Company Secretaries of India, Arora holds the membership number ACS 49706. His association with Jindal Steel Limited dates back to October 2015, when he joined the company's Corporate Secretariat department.

Throughout his tenure, Arora has been instrumental in handling matters related to governance and compliance, showcasing his expertise in these critical areas. This extensive experience within the company positions him well for his new responsibilities.

Terms of Appointment

The terms of Mr. Arora's appointment are in line with Jindal Steel Limited's HR policy. It's worth noting that he is not related to any Director or Key Managerial Personnel of the company, ensuring independence in his role.

Regulatory Compliance

This appointment has been made in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. The company has duly informed both the BSE Limited and the National Stock Exchange of India Limited about this development.

Company Background

Jindal Steel Limited, formerly known as Jindal Steel & Power Limited, is a major player in the Indian steel industry. The company's commitment to strong corporate governance is evident in its prompt disclosure of this appointment to the stock exchanges and shareholders.

This strategic appointment is expected to strengthen Jindal Steel Limited's compliance and governance framework, potentially contributing to the company's continued growth and success in the competitive steel industry.

In a significant move that could reshape the global steel industry landscape, Jindal Steel International has submitted a non-binding offer to acquire ThyssenKrupp Steel Europe, the European steel operations of the German industrial conglomerate ThyssenKrupp. This development has gained additional traction with the endorsement from German union IG Metall, describing it as positive news for employees.

Potential Acquisition Move and Union Support

The non-binding offer from Jindal Steel International marks a bold step towards potentially acquiring one of Europe's largest steel producers. This move, if successful, could significantly expand Jindal's presence in the European market and enhance its global footprint in the steel industry.

Notably, the German union IG Metall has praised Jindal Steel's offer, suggesting support for the potential acquisition from a labor perspective. This endorsement could play a crucial role in the negotiation process and potentially smooth the path for the acquisition.

Implications for ThyssenKrupp

For ThyssenKrupp, this offer comes at a time when many European steelmakers are facing challenges, including high energy costs and the need for substantial investments to meet stringent environmental regulations. The potential sale of its European steel operations could be part of ThyssenKrupp's ongoing restructuring efforts to streamline its business portfolio.

Market Reaction and Next Steps

While the details of the non-binding offer remain undisclosed, this development is likely to attract significant attention from industry analysts, investors, and regulators. The next steps would typically involve due diligence processes, negotiations, and potentially binding offers, subject to regulatory approvals.

Conclusion

This potential acquisition represents a significant development in the global steel industry. If successful, it could lead to a major shift in the competitive landscape, particularly in the European steel market. With the added support from IG Metall, the prospects for this deal seem to have improved. Stakeholders will be closely watching how this situation unfolds in the coming weeks and months.