CCI approves acquisition of stake in Mukand Sumi Special Steel Limited by Jamnalal Sons Private Limited from Mukand Limited

The Competition of Commission of India (CCI) approves acquisition of stake in Mukand Sumi Special Steel Limited by Jamnalal Sons Private Limited from Mukand Limited.

The Proposed Combination envisages acquisition of 5.51% of the equity share capital of Mukand Sumi Special Steel Limited (MSSSL) by Jamnalal Sons Private Limited (JSPL) from Mukand Limited (Mukand). Both JSPL and Mukand are said to be part of the same group.

JSPL is said to be an unregistered core investment company holding shares in various Bajaj Group Companies. It is primarily an investment and lending company.

MSSSL is engaged in the business of manufacturing, marketing, selling, distribution etc of special and alloy steel hot rolled bars and hot rolled wire rods.

Detailed order of the CCI will follow.