The Abu Dhabi Investment Authority (ADIA) has acquired a 0.89pct stake in Indian building materials and steel distributor SG Mart Ltd., purchasing 1.123 mln shares for approximately USD 7.6 mln.
The transaction was executed at USD 6.75 per share.
SG Mart, backed by the APL Apollo Group, operates a business-to-business (B2B) distribution platform for steel and construction materials.
The company supplies long and flat steel products sourced from domestic producers and also operates steel service centers and warehouses across key industrial regions in India. Following a recent promoter restructuring, Sanjay Gupta, Chairman and Managing Director of APL Apollo Tubes, became the company’s largest shareholder.
The company serves infrastructure, industrial and MSME customers, offering a broad portfolio of construction materials through an integrated supply chain platform. It has expanded its warehousing and distribution network across key industrial regions in India.