Mangalam Worldwide Limited (NSEI:MWL) agreed to acquire Steel Division from H.M. Industrial Private Limited on June 27, 2022. The transaction is subject to approval of National Company Law Tribunal. On September 23, 2022, National Company Law Tribunal, Ahmedabad Bench approved the deal.

Mangalam Worldwide Limited (NSEI:MWL) completed the acquisition of Steel Division from H.M. Industrial Private Limited for approximately INR 220 million on February 24, 2023.