Jindal Stainless Completes ₹132 Crore Investment in 282 MW Hybrid Renewable Energy Project

Jindal Stainless Limited has completed its committed investment in a major renewable energy project by acquiring an additional equity stake in Oyster Green Hybrid One Private Limited. The company invested ₹23.41 crore on April 3, 2026, completing its total committed investment of ₹132 crore in the special purpose vehicle.

Investment Details

The latest acquisition represents a 4.60% additional equity stake in Oyster Green Hybrid One Private Limited, which was formed in collaboration with Oyster Renewable Energy Private Limited. This investment completes the company's financial commitment to the renewable energy project that was initially announced in June 2025.

Investment Parameter: Details Latest Investment Amount: ₹23.41 crore Total Committed Investment: ₹132 crore Additional Equity Stake Acquired: 4.60% Investment Date: April 3, 2026 Consideration Type: Cash

Project Specifications

Oyster Green Hybrid One Private Limited is developing a 282 MW inter-state wind solar hybrid captive renewable energy project specifically designed to meet the power requirements of Jindal Stainless Limited's manufacturing plants. The project represents a significant step in the company's renewable energy strategy.

Project Details: Specifications Project Capacity: 282 MW Project Type: Inter-state wind solar hybrid Expected Annual Production: ~700 million units Purpose: Captive consumption SPV Incorporation Date: August 25, 2023 Registered Office: Mumbai, India

Environmental Impact and Strategic Alignment

The renewable energy project aligns with Jindal Stainless Limited's commitment to sustainable operations and environmental responsibility. Once fully operational, the project is expected to enable the company to abate around 6.5 lakh metric tonnes of carbon emissions per year, contributing significantly to its goal of achieving net zero carbon emissions by 2050.

The hybrid renewable energy solution is designed to deliver reliable clean power to energy-intensive industries, reinforcing the growing importance of sustainable energy sources in manufacturing operations. The project's annual production capacity of approximately 700 million units will support the company's captive power requirements while reducing its carbon footprint.

Related Party Transaction

The acquisition involves a related party transaction, as Oyster Green Hybrid One Private Limited is a subsidiary of Oyster Renewable Energy Private Limited, which shares a common promoter group with Jindal Stainless Limited. The company has confirmed that the transaction is being conducted on an arm's length basis, ensuring fair valuation and compliance with regulatory requirements.

Regulatory Compliance

The investment completion was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. No additional governmental or regulatory approvals were required for this acquisition, as confirmed in the company's regulatory filing. The project is currently under commissioning phase, with turnover details not applicable given its recent incorporation in FY 2023-24.

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:

Date Shares Acquired 25 March 2026 1,55,000 27 March 2026 2,79,303 Total 4,34,303

Shareholding Position

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

Position Number of Shares Percentage Holding Before Acquisition 14,07,47,269 17.07% Shares Acquired 4,34,303 0.05% After Acquisition 14,11,81,572 17.12%

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.

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