Sandur Manganese & Iron Ores has received approval for acquisition of additional 20%, aggregating to 100% of the equity share capital of Arjas Steel (ASPL) (in one or more tranches). Upon exploring avenues for strategic growth to accelerate its journey of forward integration into steel, value-added products and unlock potential for numerous synergies, the company which currently is into the business of mining manganese & iron ores, generation of power and manufacturing ferroalloys & coke, has decided to pursue an inorganic growth strategy by acquiring a pre-existing business.
Business acquisition of ASPL 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 said acquisition is expected to be completed on or before November 15, 2024. The Board of Directors of the company, at its meeting held on November 4, 2024 has, 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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