Sandur Manganese acquires Arjas Steel
The flagship company of the Karnataka-based Sandur Group, Sandur Manganese the acquisition of Arjas Steel, a top-five producer in the country. Sandur Manganese acquired an 80% stake for an enterprise value of Rs 3,000 crore. The firm commits approximately Rs 2,400 crore, with a significant portion financed through debt.
The acquisition is poised to be completed within 4-5 months. Arjas Steel’s two plants in Andhra Pradesh and Punjab, boasting a combined capacity of 500,000 tonnes, would also be acquired by the firm.
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