Jindal Stainless (NSE:JSL, BOM:532508) said it has completed the divestment of its entire 26% stake in Jindal Coke, according to an Indian bourse filing on Thursday.
The exit was finalized through a combination of a partial stake sale to JSL Overseas and a buyback offer from Jindal Coke.
The company received 1.95 billion Indian rupees from stake divestment, including 364.9 million rupees from the initial stake sale to JSL Overseas and 1.58 billion rupees from the buyback, the filing said.
Accordingly, Jindal Coke has ceased to be an associate of Jindal Stainless.
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