Jindal Steel sells 49% in Oman venture to group firm, to exit in due course

Jindal Steel and Power (JSPL) on Wednesday said it has sold a 48.99% stake in Oman-based wholly owned venture Jindal Shadeed Iron and Steel to Vulcan steel, a Mauritius-based subsidiary of Templar Investment, another promoter group firm.

The transaction is in line with its JSPL’s plan to continuously bring down its debt and deleverage its balance sheet.