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Shyam Metalics and Energy’s arm purchases entire stake in SMEL Steel Structural

24 Aug 2024 Evaluate

Shyam Metalics and Energy’s material wholly-owned subsidiary--Shyam Sel and Power (SSPL) has purchased entire stake of 10,000 Equity Shares in one of the promoter group company namely SMEL Steel Structural which were held by the Mr Sheetij Agarwal (5000 shares) and Mr Shubham Agarwal (5000 shares) at a net consideration of Rs 1 lakh in aggregate pursuant to Sale and Purchase Agreement executed in this respect on August 23, 2024 between SSPL and Mr Sheetij Agarwal and Mr Shubham Agarwal, Promoter Group Individuals of the company.

Consequent upon the above purchase of the entire stake of shareholdings in SMEL Steel Structural, it has become the Wholly-owned subsidiary of SSPL and step-down subsidiary of Shyam Metalics and Energy.  

Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys.


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