CCI approves Jamnalal Sons’ stake acquisition in Mukand Sumi Special Steel

Indian competition regulator – Competition Commission of India (CCI) has approved Jamnalal Sons’ (JSPL) acquisition of a 51% stake in Mukand Sumi Special Steel (MSSSL).

Jamnalal Sons is an unregistered core investment firm that has shares across multiple Bajaj Group companies. The company is mainly an investment and lending firm and is not involved in the manufacturing or trading of any goods, stated CCI.

On the other hand, Mukand Sumi Special Steel is into the business of manufacturing, marketing, selling, distribution of special and alloy steel hot rolled bars and hot rolled wire rods.