Jindal Steel & Power (JSPL) is in talks to pick up a strategic stake in Steel Exchange India (SEIL), which is looking for strategic investors in an additional equity deal, according to sources privy to the development. However, the size of the deal is not yet known as discussions are in early stages, they said.
The company confirmed to Moneycontrol that it has been scouting for investors and received an expression of interest (EoI) from JSPL, among others. Once the deal is finalized, the steelmaker will intimate the stock exchanges “in the interest of all stakeholders of the company.”
“JSPL continues to evaluate strategic opportunities on an ongoing basis as and when they arise,” said a company spokesman.