The Sandur Manganese & Iron Ores Limited (SMIORE), known as the fifth-largest iron ore miner in Karnataka and the third-largest manganese ore miner in India, has announced a strategic business acquisition deal with Private Equity firm ADV Partners. The agreement involves the acquisition of Arjas Steel Private Limited (Arjas) at an enterprise value of ₹3,000 crore.
According to a company statement, Arjas specializes in manufacturing special bar quality (SBQ) steel, with a primary focus on serving the auto sector in India. It is ranked among the top 5 special steel manufacturers in the country and operates two plants spread across nearly 950 acres. These include its flagship manufacturing facility in Andhra Pradesh and another in Punjab through its wholly-owned subsidiary, Arjas Modern Steel Private Limited.
Bahirji A. Ghorpade, Managing Director of SMIORE, expressed that the acquisition represents a significant milestone for the company as it expands into steel and value-added products manufacturing. He highlighted that this move aligns with SMIORE’s strategic transition from a merchant miner to an integrated commodity producer.