# AM Mining India acquires Indian Steel Corporation via NCLT-approved plan

The Mumbai bench of NCLT approved the Rs 897-crore resolution plan of AM Mining India Private Limited, a joint venture between Arcelor Mittal and Nippon Steel Corporation, to acquire Indian Steel Corporation, a Surat-based steel manufacturer.

- Type: Acquisition
- Announced: 2023-04-14
- Where: Surat, India, India
- Value: $109.0M (8.97B INR)
- Status: completed
- Capacity: 600,000 tonnes per annum
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [ArcelorMittal](https://endata.com/companies/292.md) (investor)
- [Nippon Steel](https://endata.com/companies/7455.md) (investor)
- [AM Mining India](https://endata.com/companies/65805.md) (acquirer)
- [Indian Steel Corporation](https://endata.com/companies/69737.md) (target)

## Sources

- [insolvencytracker.in](https://insolvencytracker.in/2023/04/14/arcelor-mittal-group-resolution-plan-for-indian-steel-corporation-approved-by-nclt/), 2023-04-14: "NCLT approves Arcelor Mittal group’s Rs 890-cr resolution plan for Indian Steel Corporation"
- [thehindubusinessline.com](https://www.thehindubusinessline.com/companies/am-mining-to-acquire-indian-steel-corpn-for-897-crore/article66747260.ece), 2023-04-17: "The acquisition of Indian Steel Corporation will enhance downstream capabilities and broaden product portfolio as the company looks to capitalise on market opportunities presented by the steel industry."

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