Jindal Stainless Shares Surge After Company Fixes Record Date for Merger With JSL; Details
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Jindal Stainless had received regulatory approval for its merger with Jindal Stainless (Hisar) from NCLT In December 2022, Jindal Stainless had received regulatory approval for its merger with Jindal Stainless (Hisar) from NCLT Jindal Stainless (Hisar) (JSHL) shares hit a record high of Rs 504.55 as they gained 3 per cent on the BSE in Friday’s intra-day trade after the company fixed Thursday, March 9, 2023 as record date for merger of Jindal Stainless (Hisar) with Jindal Stainless. “..in terms of Regulation 42 and 60 of SEBI Listing Regulations, the requirements of the stock exchanges and pursuant to Clauses 15 and 34 and other applicable provisions of the composite scheme, to fix Thursday, March 9, 2023 as the Record Date, for the purpose of determining the entitlement for issue of Equity shares of the company to the shareholders of JSHL and JSLLL based on the share exchange ratio," said Jindal Stainless announced in the exchange filing. JSHL Board approved merger of