Sandur Manganese & Iron Ores has received approval from board of directors for strategic business acquisition through purchase of 80% equity share capital of Arjas Steel (ASPL), by entering into a Share Purchase Agreement. Accordingly, the company has entered into the Share Purchase Agreement. Additionally, around 19.12% stake in Arjas Steel will be acquired by BAG Holdings (an entity owned by Mr. Bahirji A. Ghorpade, one of the promoters of The Sandur Manganese & Iron Ores).
The business acquisition of Arjas Steel is a strategic investment which brings potential benefits that aligns with strategic vision and future road map of The Sandur Manganese & Iron Ores to become a national integrated player in the steel industry. The Board of Directors at its meeting held on April 25, 2024 considered and approved the same.
Sandur Manganese & Iron Ores is engaged in mining of finest low grade, low phosphorous, manganese and iron ores, facility for production of ferroalloys and management of hydro-electric power generation.
| Company Name | CMP |
|---|---|
| Coal India | 438.70 |
| NMDC | 89.78 |
| GMDC | 733.40 |
| Sandur Manganese | 218.35 |
| MOIL | 327.60 |
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