Rimjhim Ispat Acquires BRG Iron & Steel for ₹ 530 Crore

December 16, 2021January 20, 2022Investment, Steel, Takeover

Rimjhim Ispat Ltd., a Delhi based Stainless Steel manufacturer has acquired BRG Iron & Steel for ₹ 530 crore at an auction held on orders of National Company Law Tribunal (NCLT).

The initial offer by Rimjhim Ispat was of INR 500 Crore in pre-covid period which it revised seeing the positive outlook in Steel industry.

BRG Iron and Steel is a Kolkata-based company having manufacturing facilities for products like sponge iron, ferroalloys, mild steel and stainless-steel billets.

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