# 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.

- Type: Acquisition
- Announced: 2022-12-20
- Where: Madhya Pradesh, India
- Value: $54.0M (4.50B INR)
- Jobs: 10,000
- Status: completed
- Capacity: 150,000 tpa stainless steel / wire rod & bar
- Products: stainless steel, wire rod, bar
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Shyam Metalics and Energy Ltd](https://endata.com/companies/57960.md) (acquirer)
- [Mittal Corp](https://endata.com/companies/67443.md) (target)

## Sources

- [indiablooms.com](https://www.indiablooms.com/phoenix/public/finance/shyam-metalics-and-energy-completes-acquisition-of-mittal-corp-limited/details), 2022-12-20: "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."
- [cnbctv18.com](https://www.cnbctv18.com/business/companies/shyam-metalics-and-energy-shares-shine-as-street-cheers-mittal-corp-acquisition-15471721.htm), 2022-12-21: "Shyam Metalics and Energy has acquired Mittal Corp and forayed into the stainless steel/ wire rod and bar mill business"

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