Jindal Steel and Power, which holds 19.48% stake in Gujarat NRE Coking Coal, made the offer on January 31. JSPL also has a coking coal supply agreement with Gujarat NRE Coking Coal. The offer launched on February 15 through the Australian Securities Exchange has valued Gujarat NRE Coking Coal’s shares at A$0.20 apiece. Gujarat NRE Coking Coal is the Australian subsidiary of the Kolkata-based Gujarat NRE Coke. Gujarat NRE Coking Coal has two producing coking coal mines in Australia estimated to have reserves of 125 million metric tons and resources of 651 million metric tons.