CCI approved OFB Tech to acquire a 100% stake in steel manufacturer SMW Ispat


The Competition Commission of India (CCI) approved OFB Tech, the parent company of B2B marketplace OfBusiness, proposal to acquire a 100% stake in steel manufacturer SMW Ispat.


Steel and nonferrous metals are among the raw materials offered by OfBusiness through its online marketplace and offline channels. SMW Ispat has a manufacturing plant in Wardha, Maharashtra, where it produces steel products such as TMT bars under the Sangam TMT brand. OFB Tech's subsidiary Oxyzo also provides credit facilities to SMEs looking to invest in infrastructure projects or raw materials in general.

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