Jindal Stainless Limited — JV/Acquisition, 10-11-2025: Acquisition

Jindal Stainless has transformed PT Glory Metal Indonesia (PTGMI) into a step-down subsidiary, strengthening its footprint in Southeast Asia. Previously holding a 49% stake (acquired for ₹362.23 Cr), JSL now controls PTGMI through an amended agreement. This strategic move is key to the Indonesia joint venture, aiming to establish a stainless steel melt shop and boost JSL's melting capacity from 3 MTPA to 4.2 MTPA. The transition also resulted in an exceptional gain of ₹17.41 Cr. This marks a significant step in JSL's global expansion and operational scale.