Jindal Stainless Steel has completely acquired Evergreat International Investment Pte Ltd (EIPL), establishing it as a wholly owned subsidiary.
Jindal Stainless Steel, India’s largest stainless steel manufacturing company, has acquired 100 per cent stakes in Evergreat International Investment Pte ltd (EIPL), Singapore, making it a wholly owned subsidiary. This means that EIPL is now fully owned by Jindal Stainless, giving the parent company complete control over its operations, management and strategic decisions. The subsidiary remains a separate legal entity with its own structure, board of directors, and operations. The acquisition however typically does not make the parent company liable for the subsidiary’s actions.
With this acquisition, Chromeni Steels Pte Ltd (CSPL) has also become a step-down subsidiary as confirmed by Jindal Stainless in an exchange filing. A Step Down Subsidiary (SDS) means a subsidiary of a direct subsidiary having Overseas Direct Investment (ODI).
Jindal Stainless Steel is India’s largest and one of the world’s leading producers of stainless steel, known for its innovative and high-quality products. Established as a significant player in the global market, the company boasts a diverse product portfolio that includes a wide range of stainless steel grades and finishes used in various industries such as automotive, construction, consumer goods, and more. With state-of-the-art manufacturing facilities, a commitment to sustainability, and a focus on research and development, Jindal Stainless Steel continuously strives to meet the evolving demands of its customers while maintaining a strong emphasis on corporate social responsibility. The company’s recent strategic acquisitions and expansions further solidify its position as a dominant force in the stainless steel industry.
Evergreat International Investment Pte Ltd is a Singapore-based company that provides investment and financial services. The company’s primary focus is on offering investment solutions to individuals and institutions, with a range of products and services including wealth management, asset allocation, and portfolio management. Evergreat International Investment Pte Ltd is regulated by the Monetary Authority of Singapore (MAS)
