JSL Overseas Holding Limited Increases Stake in Jindal Stainless to 17.07%

JSL Overseas Holding Limited, a Mauritius-based promoter group entity, has disclosed the acquisition of additional equity shares in Jindal Stainless Limited through open market purchases. The transaction was disclosed under Regulation 29(2) of the Securities and Exchange Board of India's Substantial Acquisition of Shares and Takeovers Regulations, 2011.

Latest Share Acquisition Details

The most recent acquisition involved a total of 1,80,000 equity shares purchased through market transactions over two days:

Date Shares Acquired March 23, 2026 1,10,000 March 24, 2026 70,000 Total 1,80,000

Updated Shareholding Position

The acquisition has increased JSL Overseas Holding Limited's stake in Jindal Stainless Limited:

Position Number of Shares Percentage Holding Before Latest Acquisition 14,05,67,269 17.05% Shares Acquired 1,80,000 0.02% After Acquisition 14,07,47,269 17.07%

Company Structure and Listing

Jindal Stainless Limited's equity shares are listed on both the National Stock Exchange of India Limited and BSE Limited. The company's share capital structure remains unchanged following this transaction:

Parameter Details Total Equity Share Capital Rs. 1,648,839,176 Number of Equity Shares 824,419,588 Face Value per Share Rs. 2

Regulatory Compliance

JSL Overseas Holding Limited, based in Mauritius, belongs to the promoter group of Jindal Stainless Limited. The company has fulfilled its disclosure obligations by notifying both stock exchanges and the target company about this acquisition. The disclosure confirms that JSL Overseas holds no encumbered shares, voting rights other than through equity shares, or convertible securities in Jindal Stainless Limited.

This open market acquisition represents a continued increase in the promoter group's shareholding, maintaining their significant stake in the stainless steel manufacturer while ensuring full regulatory compliance.

Jindal Stainless Limited, India's leading stainless steel manufacturer, has achieved a significant milestone in its sustainability journey with the part commissioning of a major hybrid renewable energy project. The company, in partnership with Oyster Renewable Energy Pvt Ltd, announced the commissioning of a 315.6 MW solar-wind hybrid renewable energy project spanning across Madhya Pradesh and Gujarat.

Project Investment and Scale

The renewable energy initiative represents a substantial financial commitment from both partners, demonstrating the scale of investment required for large-scale industrial decarbonisation projects.

Parameter: Details Total Project Investment: Over ₹2,000 crore Jindal Stainless Investment: ₹132 crore Total Capacity: 315.6 MW Madhya Pradesh Capacity: ~216 MW Gujarat Capacity: 99 MW

The project spans across two states, with the Madhya Pradesh facility being commissioned first, followed by the Gujarat facility in subsequent phases. This phased approach allows for systematic deployment and operational optimization of the hybrid renewable infrastructure.

Technical Configuration and Innovation

The hybrid project incorporates advanced renewable energy technologies designed to maximize power generation efficiency and reliability. The facility integrates bifacial solar modules with tracker systems alongside advanced Suzlon 3.15 MW wind turbines in a co-located hybrid configuration. This design enables a more balanced renewable generation profile by harnessing both solar and wind resources, helping improve power availability and supporting the delivery of more stable renewable energy for industrial consumption.

The hybrid approach addresses one of the key challenges in renewable energy adoption - intermittency - by combining complementary generation sources that can provide more consistent power output throughout different weather conditions and times of day.

Environmental Impact and Sustainability Goals

The project is expected to deliver significant environmental benefits, supporting both Jindal Stainless' sustainability objectives and India's broader climate commitments.

Environmental Metric: Annual Impact Carbon Emissions Reduction: 6.5 lakh metric tonnes per year Energy Source: Solar and wind hybrid Configuration: Co-located renewable systems

According to Abhyuday Jindal, Managing Director of Jindal Stainless Limited, "As we cater to the growing needs of the nation, sustainability continues to anchor our long-term growth strategy. Our partnership with Oyster Renewable for this hybrid renewable energy project represents an important step in strengthening our clean energy portfolio and reducing the carbon intensity of our operations."

Strategic Partnership and Industry Impact

Siddharth Bhatia, Managing Director & CEO of Oyster Renewable Energy Pvt Ltd, emphasized the project's significance for industrial decarbonisation: "This project represents Oyster's capability to develop and execute large-scale hybrid infrastructure with capital discipline and technological depth. Our self-developed asset for Jindal Stainless Limited reflects this approach - combining solar and wind to deliver stable, cost-efficient, renewable energy."

The collaboration highlights the growing importance of partnerships between renewable developers and industrial consumers in accelerating India's clean energy transition. With industrial demand for firm renewable energy increasing, such projects demonstrate how large-scale renewable infrastructure can support energy-intensive industries in reducing their carbon footprint.

Community Development and Local Engagement

Beyond infrastructure development, the project incorporated local workforce participation and regional supply-chain engagement during construction and deployment. This approach ensures that the transition to renewable energy contributes to broader economic activity and community development in the region, creating long-term value for local communities while advancing clean energy adoption.

The project represents a significant step forward in industrial decarbonisation, demonstrating how hybrid renewable energy solutions can provide reliable clean power to energy-intensive industries while supporting India's net-zero ambitions and sustainable development goals.

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