The Competition Commission of India (CCI) has approved the indirect acquisition of Arjas Steel Private Limited (ASPL) and its wholly owned subsidiary, Arjas Modern Steel Private Limited (AMSPL), by The Sandur Manganese & Iron Ores Limited (SMIORE) and BAG Holdings Private Limited (BHPL).
SMIORE views this strategic acquisition as a significant step in its efforts to integrate further into the steel and value-added products sectors. This move is expected to unlock potential synergies and accelerate the company’s plans for forward integration.
Arjas Steel is a special steel manufacturer that primarily serves the automotive sector in India, with a combined production capacity of 500,000 tons per annum at its facilities in Tadipatri, Andhra Pradesh, and Mandi Gobindgarh, Punjab.
Sandur Manganese & Iron Ores Limited, known for its mining operations in manganese and iron ore, as well as power generation and the manufacturing of ferroalloys and coke, aims to enhance its integration into steel and value-added products. BHPL, an affiliate of SMIORE, is a recently established company with no revenue-generating activities to date in India or internationally.
