Jindal Steel has successfully secured the Thakurani A1 iron ore block in Odisha, marking a significant milestone in the company's raw material acquisition strategy. This development strengthens the steel manufacturer's position in securing critical inputs for its operations.

Strategic Acquisition Details

The acquisition of the Thakurani A1 iron ore block represents an important step for Jindal Steel in enhancing its raw material supply chain. Located in Odisha, this block adds to the company's portfolio of mineral assets in one of India's key iron ore-producing states.

Operational Impact

The securing of this iron ore block is expected to provide Jindal Steel with better control over its raw material costs and supply security. Odisha remains a crucial state for iron ore mining in India, and this acquisition positions the company strategically within this important mining region.

Market Position

This development reinforces Jindal Steel's commitment to vertical integration and securing upstream resources for its steel manufacturing operations. The acquisition aligns with the company's strategy to strengthen its raw material base and enhance operational efficiency.

Skyhigh Sustainable Limited has filed mandatory regulatory disclosures following its acquisition of 4,97,09,952 equity shares representing 4.87% voting rights in Jindal Steel Limited through an off-market inter-se transfer from parent company Gagan Infraenergy Limited on February 20, 2026.

Transaction and Regulatory Framework

The wholly owned subsidiary of Gagan Infraenergy Limited completed the share acquisition under the exemption available under Regulation 10(1)(a)(iii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Skyhigh Sustainable Limited, incorporated with CIN U46901CT2024PLC016633 and registered office at Taraimal, Gharghoda Road, NSPL Nalwa Raigarh, Chattisgarh, filed the mandatory disclosure under Regulation 29(1) with both BSE Limited and National Stock Exchange of India Limited.

Shareholding Position Analysis

The acquisition represents Skyhigh Sustainable Limited's entry into Jindal Steel Limited's shareholding structure, moving from zero holdings to 4.87% voting rights. The transaction maintains the overall promoter group shareholding percentage as both entities remain part of the same promoter group structure.

Corporate Structure and Compliance

The disclosure reveals Jindal Steel Limited's extensive promoter group network comprising 50 entities acting in concert, including prominent Jindal family members, various trusts, and corporate entities such as JSW Holdings Limited, OPJ Trading Private Limited, and Opelina Sustainable Services Private Limited. The company's total equity share capital remains unchanged at Rs. 1,02,00,88,097 comprising 1,02,00,88,097 equity shares of Re. 1 each.

Skyhigh Sustainable Limited's director Nand Kishore Sharma digitally signed the regulatory filings, ensuring compliance with SEBI takeover regulations. The transaction qualified for exemption as it involved transfer between entities within the same promoter group, eliminating the requirement for making an open offer to minority shareholders. Jindal Steel Limited shares continue trading on both BSE Limited and National Stock Exchange of India Limited under their respective scrip codes.