Key Transaction Details

On 28th October 2026, Jindal Stainless Limited acquired an additional equity stake in Ampin C&I Three Private Limited ("Ampin"). Ampin is a special purpose vehicle (SPV) formed in collaboration with Ampin C&I Private Limited. The primary purpose of this SPV is to develop a 40 MW intra-state solar group captive renewable energy project.

Financial Details of the Acquisition

  • The cost of acquisition for this additional stake is approximately ₹5.08 crores, paid as a cash consideration.
  • This investment represents the final tranche, completing the company's total committed investment of approximately ₹13.83 crores in the SPV.
  • With this acquisition, Jindal Stainless Limited has acquired an additional ~7% equity stake.
  • The company's aggregate equity stake in Ampin now stands at 24.21% as of 28th October 2026.

Background on the Acquired Entity (Ampin)

Ampin C&I Three Private Limited was incorporated on 22nd November 2021 and has its registered office in Delhi, India. It is engaged in the business of developing and operating renewable energy projects. Since the 40 MW solar project was in the commissioning stage at the time of this disclosure, turnover details for the entity were stated as not applicable.

Purpose and Strategic Impact

The stated object of the acquisition is to secure a long-term renewable power supply for the company's operations. The solar project is expected to produce approximately 61.73 million units of electricity annually for captive consumption at Jindal Stainless Limited's plant(s). This initiative is in direct alignment with the company's commitment to power its future growth through renewable energy sources and its broader goal of achieving net-zero carbon emissions by the year 2050.

Regulatory and Governance Aspects

  • The acquisition is confirmed not to be a related party transaction.
  • No promoter, promoter group, or group companies have any interest in Ampin.
  • The transaction was conducted at arm's length.
  • No governmental or regulatory approvals were required for this acquisition.

The disclosure was signed digitally by Navneet Raghuvanshi, Head Legal, Company Secretary & Compliance Officer of Jindal Stainless Limited.