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INDUSTRIAL MACHINERY273.5▲ +4.87%AUTOMATION AND ROBOTICS348.5▲ +10.05%PUMPS AND VALVES401.5▲ +2.64%MATERIAL HANDLING340.7▲ +3.73%FOOD PROCESSING EQUIPMENT394.8▲ +4.07%STEEL AND METAL PRODUCTS344.9▲ +29.04%SPECIALTY CHEMICALS256.3▲ +5.14%PLASTICS AND POLYMERS327.5▲ +5.94%PACKAGING506.1▲ +8.86%INDUSTRIAL TEXTILES185.9▲ +3.45%ELECTRICAL EQUIPMENT256.3▲ +8.77%SEMICONDUCTORS AND INDUSTRIAL ELECTRONICS75.3▲ +26.02%AUTOMOTIVE COMPONENTS134.7▲ +3.13%AEROSPACE COMPONENTS291.0▲ +2.38%MEDICAL DEVICES146.2▲ +4.99%CONSTRUCTION MATERIALS262.9▲ +4.08%HVAC AND INDUSTRIAL REFRIGERATION243.3▲ +5.55%POWER GENERATION EQUIPMENT289.6▲ +3.63%WATER TREATMENT EQUIPMENT152.1▲ +2.68%MINING EQUIPMENT462.3▲ +3.56%INDUSTRIAL MACHINERY273.5▲ +4.87%AUTOMATION AND ROBOTICS348.5▲ +10.05%PUMPS AND VALVES401.5▲ +2.64%MATERIAL HANDLING340.7▲ +3.73%FOOD PROCESSING EQUIPMENT394.8▲ +4.07%STEEL AND METAL PRODUCTS344.9▲ +29.04%SPECIALTY CHEMICALS256.3▲ +5.14%PLASTICS AND POLYMERS327.5▲ +5.94%PACKAGING506.1▲ +8.86%INDUSTRIAL TEXTILES185.9▲ +3.45%ELECTRICAL EQUIPMENT256.3▲ +8.77%SEMICONDUCTORS AND INDUSTRIAL ELECTRONICS75.3▲ +26.02%AUTOMOTIVE COMPONENTS134.7▲ +3.13%AEROSPACE COMPONENTS291.0▲ +2.38%MEDICAL DEVICES146.2▲ +4.99%CONSTRUCTION MATERIALS262.9▲ +4.08%HVAC AND INDUSTRIAL REFRIGERATION243.3▲ +5.55%POWER GENERATION EQUIPMENT289.6▲ +3.63%WATER TREATMENT EQUIPMENT152.1▲ +2.68%MINING EQUIPMENT462.3▲ +3.56%

Shyam Sel and Power gets NCLT approval to acquire Mittal Corp for ₹351 crore · Endata

◂ Announcements

Oct 18, 2023ACQUISITIONIndia

Shyam Sel and Power gets NCLT approval to acquire Mittal Corp for ₹351 crore

The National Company Law Tribunal (NCLT) approved the acquisition of steel maker Mittal Corp Ltd by Shyam Sel and Power Ltd, an affiliate of Shyam Metalics and Energy Ltd, for ₹351 crore. The resolution plan offers a 20% recovery for creditors.

Value

$42.2M (3.51B INR)

Status

Completed

Productssteel

CompaniesShyam Metalics and Energy Ltd investor Mittal Corp target Shyam Sel and Power Ltd acquirer

Sectors#Steel and Metal Products

“An Indian bankruptcy court has allowed the acquisition of steel maker Mittal Corp Ltd by an affiliate of the listed firm Shyam Metalics and Energy Ltd.”economictimes.indiatimes.com

3 sources
economictimes.indiatimes.comShyam Metalics arm gets NCLT nod to acquire Mittal Corp - The Economic TimesMaulik VyasOct 21, 2023
livelaw.inMittal Corp Ltd. To Merge With Subsidiary Of Shyam Metalics & Energy, NCLT Mumbai Approves Resolution PlanPallavi MishraOct 30, 2023
legaleraonline.comNCLT Mumbai Approves Mittal Corp Ltd.'s Merger with Shyam Metalics & Energy SubsidiarySuraj Sinha, Legal Era News NetworkOct 30, 2023

Summarized from public sources; check the original articles before acting on it.

More from Shyam Metalics and Energy Ltd

Apr 10, 2024EXPANSIONSambalpur, Odisha, India$84.0Mops 10 Apr 2024
Shyam Metalics opens stainless steel HRC facility in Sambalpur
Shyam Metalics and Energy Ltd constructionweekonline.in
Mar 21, 2024NEW FACILITYOdisha, India$54.0M1,000 jobs
Shyam Metalics plans INR 450 Cr greenfield aluminium project in Odisha
Shyam Metalics and Energy Ltd biltraxmedia.com
Dec 20, 2022ACQUISITIONMadhya Pradesh, India$54.0M10,000 jobs
Shyam Metalics and Energy completes acquisition of Mittal Corp Limited
Shyam Metalics and Energy Ltd acquirer Mittal Corp target indiablooms.com cnbctv18.com
Dec 20, 2022INVESTMENTJamuria, West Bengal, India$900.0Mops 2025
Shyam Metalics plans Rs 7,500 crore investment for expansion
Shyam Metalics and Energy Ltd business-standard.com
Dec 20, 2022ACQUISITIONMadhya Pradesh, India$5.40M10,000 jobs
Shyam Metalics acquires Mittal Corp, enters stainless steel business
Shyam Metalics and Energy Ltd acquirer Mittal Corp target business-standard.com financialsamachar.com
Sep 27, 2021EXPANSIONSambalpur, Odisha; Jamuria and Mangalpur, West Bengal, India$398.0Mops 2025
Shyam Metalics allocates ₹2,960 crore to scale up steel and ferro alloy production
Shyam Metalics and Energy Ltd thehindubusinessline.com

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