Shyam Metalics and Energy completes acquisition of Mittal Corp Limited

Shyam Metalics and Energy Limited (SMEL) completed the acquisition of Mittal Corp Limited for approximately Rs 450 crores via the NCLT route. The acquisition adds 150,000 tpa stainless steel / wire rod & bar capacity in Madhya Pradesh and is part of a planned Rs 7,500 crore investment over five years.

“With this development, Shyam Metalics officials said it has embarked on a ‘diversification approach’ in the metal space to chart the company’s growth journey and has proposed to further invest Rs 7500 crore over the next five years.”indiablooms.com

• 2 sources
• indiablooms.comShyam Metalics and Energy completes acquisition of Mittal Corp Limited | Indiablooms - First Portal on Digital News ManagementIndia Blooms News ServiceDec 20, 2022
• cnbctv18.comShyam Metalics and Energy shares shine as Street cheers Mittal Corp acquisition - CNBC TV18Nigel D'SouzaDec 21, 2022

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