Sandur Manganese & Iron Ores Ltd. (SANDUR) an integrated and diversified commodity producer, which has been listed on the BSE for years, got listed on the NSE on Thursday. The stock, which got listed at ₹1,615.15, slid 1.25% to close at ₹1,595 on the NSE.
“This [listing] occasion is a testament to our collective efforts, unwavering commitment, and the remarkable journey we have embarked upon,” said MD Bahirji Ajai Ghorpade. “From our humble beginnings in 1954, we have grown over the last seven decades to become a significant player in the metals and mining industry,” he added.
“This listing is a reflection of the value we have created over the years and the potential that lies ahead,” he said.
The company said it plans to enhance manganese ore production from 0.28 to 0.58 mtpa and iron ore production from 1.60 to 4.50 mtpa.
The company has set up a hybrid renewable power plant (42.9 MW) in a SPV with Renew Power, which will cater to the increasing energy requirement to expand Ferroalloys operations in FY24.