Jindal Photo Limited (JPL) has announced the receipt of 9,89,03,972 equity shares of face value ₹10 each in Jindal India Power Limited, the Resulting Company, following a Scheme of Arrangement by way of demerger.

These newly issued shares rank pari passu with existing equity shares, carrying identical dividend and voting rights. The demerger involves the transfer of a specified business from Jindal India Powertech Limited, the Demerged Company, to Jindal India Power Limited. Jindal Photo Limited holds shares in the Demerged Company, and its shareholding in the Demerged Company remains unchanged.

The Scheme of Arrangement was sanctioned by the Hon'ble NCLT and became effective on December 11, 2025. The intimation regarding the allotment of shares was received from the Resulting Company on January 14, 2026, with the announcement made on January 15, 2026.