SMIORE recently informed exchanges that the company completed the strategic acquisition of Arjas Steel Private Limited (ASPL), acquiring a 98.94% equity stake on 11 November 2024. This marks a significant milestone for the company.
In the exchange filing, the company shared, “We wish to inform Stock Exchanges that the Company on 11 November 2024, undertook the strategic business acquisition of Arjas Steel Private Limited (ASPL) by completing the purchase of 98.94% equity stake in ASPL.”
This move follows the earlier announcements made on 25 April 2024 and 4 November 2024, detailing the terms of the Share Purchase Agreement (SPA) and its subsequent amendment. The completion of this acquisition strengthens SMIORE’s operational capabilities and market reach in the steel industry.
