The National Company Law Tribunal (NCLT) has held a meeting of shareholders and creditors of Jindal Stainless Limited (JSL) and Jindal Stainless (Hisar) Limited (JSHL) to approve the merger of the two companies.

With the expansion, the merged company JSL will reach an annual production capacity of 2.9 million tons by the fiscal year 2023 and rank among the top ten global stainless steel producers. The merge was expected to complete in the first half of the fiscal year 2023.

After combining the current capacity levels of JSHL and JSL, there will be a diverse product portfolio of more than 120 stainless steel grades, covering customers in all market segments.