Sandur Manganese & Iron Ores Limited — JV/Acquisition, 04-11-2024: Acquisition

The Sandur Manganese & Iron Ores Limited's Board has approved the acquisition of an additional 20% stake in Arjas Steel Private Limited (ASPL), increasing their total ownership to 100%. This strategic move aims to enhance forward integration into the steel industry, aligning with the company's growth objectives. The acquisition is expected to be completed by November 15, 2024, at an enterprise value of approximately ₹3,000 crore, financed through cash.