Jindal Steel & Power Limited has informed the Exchange that the Board of Directors has, in its meeting held on October 09, 2014, approved the acquisition of remaining 10,20,000 equity shares of Rs.10/- each for an aggregate amount of Rs.1.02 crore only representing 51% equity stake in 'JB Fabinfra Private Limited' (JBFAB) from its existing shareholders .JBFAB is a Joint Venture Company in which the Company holds 49% of equity share capital and after the proposed acquisition it will become a wholly owned subsidiary of the Company.JB Fabinfra Private Limited is engaged in the business of manufacturing of pre-fabricated structures out of light guage steel (LGS) for residential constructions . JSPL also has Construction Materials business vertical bringing all construction materials under one umbrella and acquiring JBFAB manufacturing business will strengthen the existing portfolio.
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