Skyhigh Sustainable Acquires 4.97 Cr Shares in Jindal Steel

New Delhi, February 20, 2026: Skyhigh Sustainable Limited, a wholly-owned subsidiary of M/s Gagan Infraenergy Limited, has completed the acquisition of 4,97,09,952 equity shares of Jindal Steel Limited (formerly Jindal Steel & Power Limited). The acquisition was carried out under the exemption provided under Regulation 10(1)(a)(iii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and is being disclosed under Regulation 29(1) of the same regulations.

Summary of the Acquisition

Date of Acquisition: February 20, 2026
Number of Shares Acquired: 4,97,09,952
Percentage of Total Share Capital: 4.87%
Mode of Acquisition: Off-market transaction
Type of Security: Equity shares (Re. 1/- per share)

Acquirer Details

Acquirer: Skyhigh Sustainable Limited
Persons Acting in Concert (PAC): Listed in Annexure A
Promoter/Promoter Group: Yes, the acquirer is part of the promoter group of the Target Company

Stock Exchanges Where Shares Are Listed

BSE Limited
National Stock Exchange of India Limited

Also Read: Jindal Steel Grants 80,695 Stock Options Under Employee Benefit Scheme

Purpose of Acquisition

The acquisition strengthens the promoter group’s holding in Jindal Steel Limited and aligns with long-term strategic objectives, including growth, shareholder value creation, and promoter consolidation.

Key Promoter and Promoter Group Shareholding (as of February 13, 2026)

Indian Promoters (Individuals): Naveen Jindal, Abhyuday Jindal, Urvi Jindal, Sangita Jindal, Tarini Jindal Handa, and others

Trusts & HUFs: Global Vision Trust, PRJ Family HUF, and other family/management trusts

Corporate Bodies: Siddheshwari Tradex Pvt Ltd, OPJ Trading Pvt Ltd, Jindal Cement Industries Pvt Ltd, Gagan Infraenergy Limited, among others

Foreign Promoters (Individuals & Corporate Bodies): Sarika Jhunjhnuwala, Estrela Investment Company Ltd, Jargo Investments Ltd, Beaufield Holdings Ltd, etc.

Post-Acquisition Holding

Shares Held by Skyhigh Sustainable Limited and PACs: 4,97,09,952
Percentage of Total Share Capital: 4.87%

This acquisition reinforces the strategic positioning of Skyhigh Sustainable Limited and its parent, Gagan Infraenergy Limited, within the Jindal Steel promoter group while contributing to the company’s long-term growth plans.