The Sandur Manganese & Iron Ores Limited

Sandur Manganese & Iron Ores Ltd announced the acquisition of an additional 20% stake in Arjas Steel Private Ltd, giving it 100% ownership. The enterprise value is approximately ₹3,000 crore, with completion expected by November 15, 2024.

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.