Jindal Stainless Limited Entered into a Collaboration Agreement for setting up a joint venture in Indonesia for investing, developing, constructing and operating a stainless steel melt shop (``SMS'') in Indonesia. With setting up of this SMS, the Company's melting capacity will increase from 3 million tonnes per annum (MTPA) to 4.2 MTPA; Investment of an amount upto INR 33,500 million towards downstream capacity expansion and upgrading infrastructural facilities, sustainability initiatives and renewable energy generation; The Company will purchase 100% stake of Sulawesi Nickel Processing Industries Holdings Pte. Ltd. (SNPIHPL), Singapore.

Post-acquisition, SNPIHPL will become the wholly-owned subsidiary of the Company. SNPIHPL will form a joint venture by acquiring a 49% equity stake in Indonesia based operating company. Once operational, the annual production capacity of the stainless steel melt shop (``SMS'') would be 1.2 MTPA.

Setting up a joint venture in Indonesia for investing, developing, constructing and operating a SMS in Indonesia with an annual production capacity of 1.2 MTPA. With the setting up of this SMS, the Company's melting capacity will increase from 3 MTPA to 4.2 MTPA. No approval is required for this acquisition.

The acquisition will be done in compliance with FEMA regulations. The SMS is expected to commence operations within 24 months. Cash consideration.

~INR 7,150 million to be disbursed in multiple tranches.