JSL Overseas Holding Limited Increases Stake in Jindal Stainless Limited to 16.99%

JSL Overseas Holding Limited, a promoter group entity of Jindal Stainless Limited, has increased its shareholding in the stainless steel manufacturer through open market purchases. The Mauritius-based holding company disclosed the acquisition under SEBI regulations for substantial share acquisitions. Share Acquisition Details JSL Overseas acquired a total of 6,92,015 equity shares through market purchases conducted over two days. The acquisition was executed in two tranches, with 328928 shares purchased on March 11, 2026, and 363087 shares acquired on March 12, 2026. Transaction Details: Information Total Shares Acquired: 6,92,015 Acquisition Method: Market purchase Purchase Date 1: March 11, 2026 (328928 shares) Purchase Date 2: March 12, 2026 (363087 shares) Percentage Acquired: 0.08% Shareholding Pattern Changes The acquisition resulted in an increase in JSL Overseas' shareholding percentage in Jindal Stainless Limited. Prior to this transaction, the company held 13,94,29,952 shares representing 16.91% of the total equity capital. Shareholding Summary: Before Acquisition After Acquisition Change Number of Shares: 13,94,29,952 14,01,21,967 +6,92,015 Percentage Holding: 16.91% 16.99% +0.08% Voting Rights: 16.91% 16.99% +0.08% Company Structure and Listing Details Jindal Stainless Limited maintains its equity share capital structure unchanged following this acquisition. The company's shares are traded on both major Indian stock exchanges. Company Information: Details Equity Share Capital: Rs. 1648839176 Total Equity Shares: 824419588 Face Value per Share: Rs. 2 NSE Scrip Code: JSL BSE Scrip Code: 532508 Regulatory Compliance The disclosure was made in accordance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. 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 and family members. The transaction represents a routine increase in promoter group shareholding through open market operations, with no changes to the overall equity structure of Jindal Stainless Limited. Jindal Stainless has issued an official disclosure under SEBI Regulation 30 regarding the impact of the Middle East war crisis on its operations. The stainless steel manufacturer filed the disclosure with BSE and NSE exchanges, detailing significant operational challenges affecting its manufacturing and supply chain activities. Official Statement on Operational Impact In its official statement, Jindal Stainless explained that the heavy dependence of stainless steel manufacturing on industrial gases such as propane, LPG, and natural gas has resulted in several processes across its plants being adversely impacted. The company emphasized that unlike the conventional steel industry, which largely utilizes blast furnace and coke oven gases as energy sources, the stainless steel industry follows a scrap-based production route where such gases are not generated internally. Operational Challenge: Impact Details Fuel Constraints: Plants operating at rationalized capacity Industrial Gas Shortage: Propane/LPG and natural gas supply issues Shipping Disruptions: Vessel diversions and longer transit times Supply Chain Impact: Additional pressure on margins Production Capacity and Supply Chain Disruptions Given the constraints in fuel availability, Jindal Stainless plants are operating at rationalized capacity levels. The company has also highlighted that disruptions in global shipping routes are resulting in vessel diversions, longer transit times, and cargo delays, which are placing additional pressure on supply chains and margins. Government Support and Industry Outlook Jindal Stainless acknowledged that the Government is fully seized of the matter and is actively prioritizing fuel allocation for critical sectors. The company stated that clarity on the allocation percentage for industrial propane, LPG, and natural gas, along with assurance of regular supplies, will be important for the stainless steel industry to plan and optimize operations. In the absence of such clarity, the company foresees a cascading effect across the industry, with severity depending on how quickly these issues are resolved. Regulatory Compliance The disclosure was signed by Navneet Raghuvanshi, Head-Legal, Company Secretary & Compliance Officer, and submitted to both BSE and NSE exchanges as required under SEBI regulations. This formal communication provides stakeholders with transparency regarding the operational challenges facing the stainless steel manufacturer due to the ongoing Middle East crisis. 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