Shyam Metalics acquires Mittal Corp, enters stainless steel business

Shyam Metalics and Energy Ltd has acquired Mittal Corp Ltd through an NCLT-led resolution process for about Rs 450 crore, marking its foray into the stainless steel business. The company plans to invest Rs 7,500 crore over 4-5 years to scale up its metal business.

“Shyam Metalics and Energy Ltd on Tuesday said it has forayed into the stainless steel business by acquiring Mittal Corp Ltd in an NCLT-led resolution process.”business-standard.com

• 2 sources
• business-standard.comShyam Metalics acquires Mittal Corp, forays into stainless steel business | Company News - Business StandardPress Trust of IndiaDec 20, 2022
• financialsamachar.comShyam Metalics and Energy Limited (SMEL) to complete third acquisition expanding both inorganically and organically | Financial SamachardeskDec 20, 2022

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