Arjas Modern Steel Private Limited signed a definitive agreement to acquire All steel, heat treatment and auto component businesses of Modern Steels Limited for approximately INR 860 million on November 13, 2020. Arjas Modern Steel Private Limited will invest about INR 1.25 billion in the acquisition and bringing about some up gradation. The The transaction is approved by Modern steel board and will be fully consummated when all closing formalities are completed. The key approvals awaited are from MSL's financial creditors and the National Company Law Tribunal. The transaction is expected to complete on march 15, 2020.

Arjas Modern Steel Private Limited completed the acquisition of All steel, heat treatment and auto component businesses of Modern Steels Limited from Modern Steels Limited (BSE:513303) on February 5, 2022.