Jindal Stainless acquires Chromeni Steels' remaining stake

19 Jun 2024 CW Team

Jindal Stainless Limited has successfully acquired the remaining 46% stake in Chromeni Steels for Rs 278 crore, consolidating its position in the stainless steel market. This strategic move enhances Jindal Stainless' capabilities and market share, signaling robust growth prospects in the steel industry.

The acquisition, valued at Rs 278 crore, marks a significant milestone for Jindal Stainless, allowing it to capitalize on synergies and expand its footprint in the stainless steel segment. The deal strengthens Jindal Stainless' position as a key player in the industry, leveraging Chromeni Steels' expertise and resources.

Jindal Stainless' acquisition of Chromeni Steels' remaining stake aligns with its strategic objectives of growth and market leadership. This move is expected to drive operational efficiencies, enhance product offerings, and create value for stakeholders.

The acquisition further solidifies Jindal Stainless' commitment to innovation, quality, and sustainability in the steel sector. By integrating Chromeni Steels' assets and capabilities, Jindal Stainless aims to deliver superior products and services to its customers while maintaining a competitive edge in the market.

Key stakeholders, including shareholders and industry experts, view this acquisition as a positive development that strengthens Jindal Stainless' market position and augments its growth trajectory. The deal underscores Jindal Stainless' strategic vision and proactive approach in pursuing growth opportunities.

Overall, Jindal Stainless' acquisition of Chromeni Steels' remaining stake for Rs 278 crore is a strategic investment aimed at bolstering its market presence, driving growth, and delivering long-term value to its stakeholders.

Resources

08 Sep 2025

IGBC Launches 32nd Chapter in Ranchi to Drive Green Building Growth

The CII Indian Green Building Council (IGBC) has launched its 32nd Chapter in Ranchi to accelerate Jharkhand’s transition towards sustainable and resilient urban infrastructure. The launch event, held on September 6 at Radisson Blu Hotel, brought together government officials, industry leaders, and sustainability experts. Sunil Kumar, IAS, Principal Secretary, Urban Development & Housing Department, Government of Jharkhand, said, “The launch of the IGBC Ranchi Chapter marks a significant step in Jharkhand’s urban development journey. The state is committed to creating a policy e..

Mindspace REIT Marks Five Years With 14.8 Per Cent Annualised Returns

Mindspace Business Parks REIT, owner and developer of a Grade-A office portfolio, has completed five years since its listing on the Indian bourses in August 2020. Despite debuting during the global pandemic, the REIT has delivered 14.8 per cent annualised total returns, expanded its portfolio, and reinforced occupier trust. Key achievements over five years include: Portfolio expansion of 30 per cent to 31.0 msf through acquisitions and new developments. Gross leasing of 25.2 msf, with occupancy sustained at 93.7 per cent. Cumulative distribution of Rs 55.9 billion to unitho..

Great Value Realty Secures RERA Nod for Ultra-Luxury Ekanam Project

Great Value Realty, one of North India’s most trusted developers, has received RERA approval for its flagship ultra-luxury residential project, Ekanam (RERA No. UPRERAPRJ15109/2019). The announcement was made during the Great Partners Meet at Noida. Built on the only available land parcel in Sector 107, Noida, Ekanam embodies the company’s philosophy, “Great is the New Norm,” promising excellence in design, quality, and sustainable community living. With seamless connectivity to Noida Expressway, DND Flyway, metro stations, and proximity to the upcoming Jewar Airport, the project ..