Sandur Manganese & Iron Ores Ltd (SMIORE) announced its board’s approval for acquiring an 80% stake in Arjas Steel Pvt Ltd (ASPL) through a share purchase agreement. Although the financial details were undisclosed, ASPL’s enterprise value is estimated at Rs 3,000 crore. Additionally, BAG Holdings Pvt Ltd, owned by one of SMIORE’s promoters, will acquire a 19.12% stake in ASPL. The deal, subject to regulatory conditions, is expected to be completed within seven months. This strategic acquisition marks SMIORE’s entry into steel and value-added products manufacturing, aligning with its transition from a merchant miner to an integrated commodity producer.