Epic Update : Jindal Steel and Power

Jindal Steel and Power (JSPL) is likely to increase its stake in Australia’s Apollo Minerals to 11.70% by acquiring an additional 10 million shares of the firm for about Rs 2.20 crore. At present JSPL holds a 9.25% stake in the Australian company, which is primarily into iron ore mining. This transaction is expected to be complete this week and is not subject to regulatory approvals from any Australian or State Government agency.

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