Adani Group to foray into steel sector, eyes RINL bidding in January 2023

After an entry into the cement sector by acquiring Ambuja Cement and ACC, Adani Group is now eyeing the steel sector with a focus on green energy

Adani Group is reportedly planning to bid for the state-owned Rashtriya Ispat Nigam which is expected to go under the hammer in January 2023. With this, the group would foray into a new business after making entering the cement sector with the Adani-Holcim deal, according to BusinessLine (BL). 

The report quoted sources as saying that the group is expected to take a more aggressive stance than legacy players in the steel sector like JSW Steel, and Tata Steel.

This is also expected given the premium pricing the biggest conglomerate in India offered, to buy Ambuja Cement and ACC.