Jindal Saw Limited’s Board of Directors has approved the disposal of its 100% subsidiary, Raleal Holdings Limited, based in Cyprus. This decision was made during a board meeting held on 27th April 2026, where the board agreed in principle to either sell or liquidate the subsidiary.
Raleal Holdings Limited, as of 31st March 2026, contributed no turnover, revenue, or income to Jindal Saw, and its net worth was reported as a negative Euro 9,762,501. The board has yet to finalise the agreement for the sale, the expected date of completion, and the consideration to be received from the transaction.
Details regarding potential buyers, including whether any belong to the promoter or promoter group, have not been determined. Additionally, the transaction will not fall within related party transactions, and it is not part of a Scheme of Arrangement, making compliance with regulation 37A of LODR Regulations unnecessary.
The board meeting discussing this matter commenced at 2:00 p.m. and concluded at 5:40 p.m. Jindal Saw has not yet disclosed any further details regarding the buyers or the terms of the sale.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).