M&A Critique

Jindal Power: Streamlining Promoter’s Holding

In 2021, Naveen Jindal Group’s flagship company, Jindal Power & Steel Limited announced the divestment of its subsidiary entity engaged in power generation business: Jindal Power Limited to a private entity owned by promoters. The transaction was objected by several investors & proxy advisory firms. Despite objection, the group was able to conclude the transaction. Soon after taking it private, the group annou...

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Aniruddha Jain