# OfBusiness seeks CCI approval to acquire SMW Ispat

OfBusiness has applied to the Competition Commission of India for approval to acquire a majority stake in SMW Ispat, a TMT steel manufacturer. The deal is for 100% of SMW Ispat, primarily to acquire its brand Sangam TMT.

- Type: Acquisition
- Announced: 2022-03-25
- Where: Maharashtra, India
- Status: announced
- Products: TMT bars, steel billets, sponge iron, iron ore
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [OfBusiness](https://endata.com/companies/61875.md) (acquirer)
- [SMW Ispat](https://endata.com/companies/61876.md) (target)

## Sources

- [economictimes.indiatimes.com](https://economictimes.indiatimes.com/tech/startups/ofbusiness-seeks-cci-nod-to-acquire-steel-maker-smw-ispat/articleshow/90442629.cms), 2022-03-25: "The present notification is being made by the acquirer (OfBusiness) to seek the approval of the honourable commission to purchase a majority equity stake of the target (SMW Ispat) from the promoters and existing shareholders of SMW Ispat."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.