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Shakambhari Ispat and Power Ltd Acquired SPS Steels Rolling Mills Limited

News Desk, News Nation 360 : Shakambhari Ispat and Power Ltd. (SIPL), one of the fastest growing integrated steel manufacturing companies in Eastern India, announced the acquisition of SPS Steels Rolling Mills Limited – the sole owners of Elegant Steel, India’s No. 1 QST Bars, at a press conference. The press conference

was addressed by Deepak Kumar Agarwal, Chairman Cum Managing Director, Shakambhari Group, Naresh Agarwal, CEO, Shakambhari Ispat and Power Ltd (SIPL) and Ranjan Barma, Corporate Planning, BB&C Advisors. SIPL has taken over the management of SPS steels rolling vide order passed by the Hon’ble National Company Law Tribunal Kolkata on 08.04.2019 in respect of the case no CA(B) No. 871/KB/2018 in CP(B) No. 595/KB/2017. Speaking on the occasion, Deepak Kumar Agarwal, Chairman cum Managing Director, Shakambhari Group mentioned that their main interest in SPS Steels Rolling Mills Limited was mainly on account of the strategic location of its plant and the brand equity associated with ELEGANT STEEL, exclusively owned by SPS. It currently enjoys a strong network of 1000 dealers in the states of West Bengal and Assam. They aimed to explore and expand the market share of ELEGANT STEEL immediately in several states including North East, Jharkhand, Bihar, Odisha, Uttar Pradesh and further taking it to the Pan India Market.

Pic : Krishnendu Kundu

Report : Anustup Kundu