The transaction has been agreed at an Enterprise Value of Rs 3,000 crore and will be subject to customary regulatory approvals and closing conditions. Through this transaction, ADV will fully divest its interest in Arjas marking another successful exit from its India portfolio.

Arjas is a special steel manufacturer primarily engaged in the business of manufacturing special bar quality (SBQ) steel focused towards the auto sector in India. The company has a total employee strength of nearly 2,500 and a combined production capacity of approximately 5,00,000 MT through its integrated steel plant in Tadipatri, Andhra Pradesh and an electric arc furnace-based steel plant in Mandi Gobindgarh, Punjab.

Arjas is currently undergoing a major expansion at both its facilities, which will en...

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