# SMIOL acquires remaining 20% stake in Arjas Steel

Sandur Manganese & Iron Ore Limited (SMIOL) acquired the residual 20% equity stake in Arjas Steel Private Limited (ASPL), making it a wholly-owned subsidiary. The acquisition includes ASPL's subsidiary Arjas Modern Steel Private Limited, which operates an electric arc-based integrated steel plant in Mandi Gobindgarh, Punjab.

- Type: Acquisition
- Announced: 2024-11-06
- Where: Mandi Gobindgarh, Punjab, India, India
- Status: completed
- Products: specialty steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Arjas Steel Private Limited](https://endata.com/companies/67315.md) (target)
- [Arjas Modern Steel Private Limited](https://endata.com/companies/81178.md) (target)
- [Sandur Manganese & Iron Ore Limited](https://endata.com/companies/81349.md) (acquirer)

## Sources

- [steelorbis.com](https://www.steelorbis.com/steel-news/latest-news/indias-smiol-acquires-remaining-equity-in-specialty-steelmaker-aspl-1364762.htm), 2024-11-06: "This strategic move aligns with SMIOL’s vision to expand its presence in the steel industry, building upon its existing business in manganese and iron ore mining, power generation, and ferroalloy manufacturing."

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