Tata Steel
Tata Steel makes mega move! Acquires 50% stake in Thriveni Pellets for ₹636 crore
Mumbai/IBNS: Tata Steel shares surged by 1.57% on Thursday after the company’s board approved the acquisition of a 50.01% equity stake in Thriveni Pellets Pvt Ltd (TPPL) from Thriveni Pellets Private Limited for up to ₹636 crore, media reports said.
TPPL holds 100% stake in Brahmani River Pellets (BRPL), which operates a 4 MTPA pellet plant in Jajpur, Odisha. Under the deal, Tata Steel has acquired 90,06,801 shares of face value ₹10 each, representing 50.01% of TPPL and TEMPL.
Following the acquisition, the remaining 49.99% stake in TPPL will continue to be held by Lloyds Metals & Energy (LMEL).
The transaction is expected to be completed within three to four months, subject to regulatory approvals, according to Business Today.
The acquisition is part of Tata Steel’s strategy to secure a reliable iron ore pellet supply, a crucial raw material for steel production.
By strengthening its upstream assets, the company aims to reduce dependency on external suppliers and enhance long-term operational efficiency.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
