Jindal Steel & Power announced that its wholly owned subsidiary, Jindal Steel & Power (Mauritius) (JSPML) has accepted a binding offer from Templar Investments, Mauritius (Acquirer), a promoter group entity, to divest its entire stake by way of sale of shares, in Jindal Shadeed Iron and Steel LLC, Oman (JSIS Oman), step-down material subsidiary of the Company.

The equity value of the transaction is US $ 251 million, which would be paid by the Acquirer through a mix of cash and taking over liabilities of JSPML.

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