Jindal Stainless Promoters Do Inter-Se Gift Transfers Of 3.058% Worth Of Equity Shares
By Ankur Chandra | Published at: Jun 3, 2025 02:53 PM IST
Promoter group members of Jindal Stainless Limited have announced an inter-se transfer of 2,51,90,330 equity shares, representing 3.058% of the company’s total share capital, through gift transactions as per Regulation 10(1)(a)(ii) of SEBI’s SAST Regulations, 2011.
Key Details of the Transaction
| Transferor | Transferees |
|---|---|
| Smt. Savitri Devi Jindal | Arti Jindal, Sajjan Jindal (as Trustee of Sajjan Jindal Family Trust), Naveen Jindal |
- Mode of transfer: Gift (no consideration involved)
- Transaction Date: On or after June 9, 2025
- Exemption: Regulation 10(1)(a)(ii) – Inter-se transfer within the promoter group
- Price Benchmark (VWAP, 60-day average): ₹605.15 per share, not applicable since it is a gift
This move does not trigger an open offer under SEBI norms.
Shareholding Before & After Transfer
As per Annexure-2 (Page 5):
| Promoter | Pre-Transaction Holding | Post-Transaction Holding | % Change |
|---|---|---|---|
| Arti Jindal | 90 shares | 90,37,068 shares | ↑ ~1.10% |
| Sajjan Jindal (Trustee) | 295 shares | 1,01,47,058 shares | ↑ ~1.23% |
| Naveen Jindal | 57,666 shares | 2,53,26,147 shares | ↑ ~3.06% |
| Savitri Devi Jindal | 2,61,90,330 shares | 0 | ↓ ~3.06% |
Purpose and Compliance
The stated intent behind the transaction is a reorganization within the promoter group by way of gift. All parties have confirmed compliance with Chapter V of SEBI SAST Regulations for the last three years and post-transaction as well.
This transfer strengthens the direct holdings of Arti Jindal, Sajjan Jindal (as trustee), and Naveen Jindal, indicating possible internal restructuring of promoter stakes. Notably, Savitri Devi Jindal previously holding 3.06% will no longer hold direct shares post-gift.
Broader Promoter Structure
The Jindal Stainless promoter group includes over 60 entities and individuals, as detailed in the annexures, including Virtuous Tradecorp, Sun Investments, Jindal Strips Ltd, and others. These disclosures affirm that no encumbrance or pledge has been created in the past three financial years on JSL shares, barring those already declared.
REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/4F216C0E_ECE2_4495_9A2D_B38C9E104ADB_110138.pdf
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