The Competition Commission of India has approved the proposed combination involving acquisition of 100% shareholding in SMC Power Generation Limited by Rungta Sons Private Limited.

Rungta Sons Private Limited (RSPL) is a private limited company engaged in the business of mining of iron ore and manganese ore, and manufacturing of ferro alloys.

SMC Power Generation Limited (SMCPGL) is a public limited company primarily engaged in the business of manufacture and sale of sponge iron, steel billets, Thermo Mechanical Treatment (TMT) bars, pig iron and ferro alloys (specifically, silico manganese).

The proposed transaction involves RSPL acquiring 100% shareholding in SMCPGL (Proposed Combination).

Detailed order of the Commission will follow.

Merger control: clearance for acquisition of SMC Power Generation by Rungta Sons permits full-share transfer and consolidation. Approval of a proposed combination permitting Rungta Sons Private Limited to acquire full shareholding in SMC Power Generation Limited, involving parties active in mining, ferroalloy manufacture and steel product manufacture and sale; a detailed order will follow.