Evonith Steel has completed the acquisition of Indrajit Power for Rs 2,320 million, consolidating a power generation entity into its operations. The seller and transaction structure were not detailed in the announcement, which set the consideration at Rs 2,320 mn. The acquisition brings a dedicated energy asset under Evonith Steel's control and aligns with its broader operational objectives.

The company said the purchase will strengthen its power asset base and provide a captive source of energy for its steel manufacturing facilities, supporting production stability. Management indicated the move is intended to reduce reliance on external power procurement and to enhance control over energy costs. The two firms will begin integration planning immediately. Integration planning will cover operational, safety and compliance aspects and set timelines for phased handover of responsibilities.

The transaction consideration is Rs 2,320 mn, and the company defined the amount in the announcement. The deal is subject to customary regulatory and third party approvals before completion. Evonith Steel confirmed that no immediate change in day-to-day operations at Indrajit Power is planned.

Company representatives outlined that integration will focus on operational alignment and efficiency gains while maintaining existing customer commitments. Financial details beyond the headline consideration were not disclosed and capital structure implications were described as part of internal planning. The firm affirmed its commitment to a smooth transfer of ownership and continuity of services.

Analysts will watch for updates on regulatory clearances and the timeline for full integration, which the company said will be communicated in due course. The acquisition represents a step in Evonith Steel's efforts to verticalise inputs and manage input cost volatility. Further information will be provided as approvals are secured and integration milestones are met. Shareholders and stakeholders will be notified of milestones in line with applicable disclosure norms.