The Competition of Commission of India (CCI) has approved acquisition of stake in Mukand Sumi Special Steel (MSSSL) by Jamnalal Sons (JSPL) from Mukand. The Proposed Combination envisages acquisition of 5.51% of the equity share capital of Mukand Sumi Special Steel by Jamnalal Sons from Mukand. Both JSPL and Mukand are said to be part of the same group.
JSPL is said to be an unregistered core investment company holding shares in various Bajaj Group Companies. It is primarily an investment and lending company. MSSSL is engaged in the business of manufacturing, marketing, selling, distribution etc of special and alloy steel hot rolled bars and hot rolled wire rods.
Mukand is a multi-division, multi-product conglomerate involved in the manufacture of specialty steel long products and heavy machinery.
