Provided herein is a shorter route of synthesis of 21-Hydroxypregna-1, 4, 9(11), 16-tetraene-3, 20-dione 21-acetate from Prednisolone that gives higher yield and better purity maintaining the regiospecificity of 21-Hydroxypregna-1,4,9(11),16-tetraene-3,20-dione 21-acetate.