Jindal Steel and Power has increased its holding in Gujarat NRE Coking Coal (GNCC) by 2.67% to 12.74% with an investment of Rs 430mn, according to reports.
Reports stated that as part of the agreement, GNCC will issue and allot a further 30,000,000 fully paid ordinary shares to Jindal Steel and Power (Mauritius) at $0.25 a share raising A$7,500,000.