Jindal Stainless Limited (NSEI:JSL) agreed to acquire Rabirun Vinimay Pvt. Ltd for INR 960 million on December 19, 2023. Jindal Stainless Limited board approved the deal. The transaction is expected to complete in FY 2023-24.
Jindal Stainless Limited (NSEI:JSL) acquired Rabirun Vinimay Pvt. Ltd. on December 19, 2023. On December 22, 2023 Jindal Stainless Limited received the Sale Certificate from the Official Liquidator confirming the sale of RVPL to Jindal Stainless Limited and accordingly, RVPL has become the wholly owned subsidiary of the Jindal Stainless Limited the Company and accordingly, RVPL has become the wholly owned subsidiary of Jindal Stainless with effect from the date of sale certificate on December 19, 2023. Anoop Rawat, Saurav Panda, Amrit Mahal and Deepanjan Dutta Roy of Shardul Amarchand Mangaldas & Co acted as the legal advisor to Jindal Stainless Limited.