India-born British businessman Sanjeev Gupta, who made headlines in 2016 for buying Tata Steel’s UK units, has acquired the bankrupt Adhunik Metaliks and Zion Steel for Rs 425 crore ($60 million), making an entry in this part of the world. He is the second global steel tycoon to debut in India, one of the world’s vibrant metal markets, after L N Mittal. It was through the acquisition of Essar Steel that Mittal entered India in December 2019.
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