Jindal Saw Limited

Theleme India decreased its stake in Jindal Saw Limited from 2.42% to 2.26% by selling 1,000,000 shares between the March and June 2026 quarters. The value of the shares sold is approximately ₹28.73 crore, based on a share price of ₹287.25.

A leading manufacturer of steel pipes and pellets, Jindal Saw produces LSAW pipes, HSAW pipes, DI pipes, and seamless pipes for infrastructure, oil and gas, and water distribution sectors. The company operates integrated production facilities across multiple locations and serves both domestic and international markets with consistent quality. Its vertically integrated operations, manufacturing expertise, and focus on product quality distinguish it in the competitive steel pipes industry.

India equity vehicle of Theleme Partners, a London-based concentrated hedge fund founded in 2009 by Patrick Degorce (founding partner of TCI under Chris Hohn, ex-Merrill Lynch and Lehman). Theleme runs around USD 2 bn in 13F securities across a high-conviction global long book that frequently includes large Indian positions.