# SMIORE to acquire controlling interest in Arjas Steel for ₹3,000 crore

The Sandur Manganese & Iron Ores Limited (SMIORE) has signed a share purchase agreement to acquire a controlling interest in Arjas Steel Private Limited from ADV Partners at an enterprise value of ₹3,000 crore. The acquisition accelerates SMIORE's forward integration into steel and value-added products.

- Type: Acquisition
- Announced: 2024-04-29
- Where: India
- Value: $360.0M (30.0B INR)
- Status: announced
- Products: special steel, alloy steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [The Sandur Manganese & Iron Ores Limited](https://endata.com/companies/77103.md)
- [Arjas Steel Private Limited](https://endata.com/companies/67315.md) (target)
- [ADV Partners](https://endata.com/companies/77104.md) (partner)

## Sources

- [asianprimenews.com](https://www.asianprimenews.com/news/the-sandur-manganese-iron-ores-limited-smiore-and-private-equity-firm-adv-partners-announced-execution-of-a-binding-agreement-relating-to-the-strategic-business-acquisition-of-arjas-steel-private/), 2024-04-29: "This acquisition marks a significant milestone for SMIORE as we venture into steel and value-added products manufacturing."

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