On July 24, 2023, India's Jindalai Stainless Steel announced that it had completed the acquisition of the remaining 74% stake in JUSL. Previously, India's Jindalai Stainless Steel held a 26% stake in JUSL2. Through this transaction, JUSL has now become a wholly-owned subsidiary of India's Jindalei. The acquisition involves a cash consideration of 9.58 billion rupees and integrates all key facilities for stainless steel manufacturing. JUSL currently operates a hot rolled strip mill (HSM) with a production capacity of 1.6 million tons per year (MTPA), as well as a cold rolling mill with a production capacity of 200000 MTPA. In addition, the company is expanding its production capacity in Jajpur, Orissa to reach 3.2 MTPA.

Abhyuday Jindal, Managing Director of India's Jindal Stainless Steel, stated that due to a positive outlook on stainless steel and the cooperation between JUSL and JSL, the board of directors has made a decision to integrate stainless steel production facilities.

This acquisition is expected to promote synergies between the two companies and establish a preferred governance structure, ultimately increasing the value for all stakeholders. The board of directors and Indian shareholders of Jindalei Stainless Steel have previously approved this transaction.

India's Jindalai Stainless Steel is the largest stainless steel manufacturing company in India, with an annual melting capacity of 2.9 million tons. It operates two stainless steel manufacturing plants in the states of Haryana and Orissa.