Fair trade regulator Competition Commission on Friday said it has given approval to the proposed acquisition of majority shareholding in BMM Ispat Ltd by JSW Projects Ltd.
JSW Projects, which is a part of the JSW group, is engaged in the business of manufacture of direct reduce iron and sponge iron, coke dry quenching and captive power generation which are used in the manufacture of steel and steel products on a job work basis for JSW Steel, the watchdog said in a release.
BMM is in the manufacture and sale of steel products including iron ore pellets, sponge iron, TMT bars and semis, it added.
The Competition Commission of India (CCI) in a tweet said it "approves acquisition of majority shareholding in B.M.M Ispat Limited by JSW Projects Limited".