JSW Vallabh Tinplate Private Limited is now 100% subsidiary of JSW Steel Limited

JSW Steel Limited ("Company") had entered into a legally binding share purchase agreement to acquire, in one or more tranches, 1,32,37,227 equity shares of INR 10/- each, representing 26.45% of the issued and paid-up share capital of JSW Vallabh Tinplate Private Limited from the existing third-party shareholders of JSW Vallabh Tinplate Private Limited.

The Company has now completed the acquisition by acquiring the aforesaid balance 26.45% of the issued and paid-up share capital of JSW Vallabh Tinplate Private Limited. Pursuant to the above, JSW Vallabh Tinplate Private Limited is now a wholly owned subsidiary of the Company with the Company's direct and indirect (through its wholly owned subsidiary Vardhman Industries Limited) shareholding in JSW Vallabh Tinplate Private Limited being 100%.

Shares of JSW STEEL LTD. was last trading in BSE at Rs.444.95 as compared to the previous close of Rs. 438.05. The total number of shares traded during the day was 432420 in over 5706 trades.

The stock hit an intraday high of Rs. 452.3 and intraday low of 436.4. The net turnover during the day was Rs. 192366068.

Source : Equity Bulls

Keywords