Tata Steel to sell Jajpur ferro alloy plant to IMFA for ₹610 crore

Tata Steel Limited announced it has entered into an asset transfer agreement with Indian Metals & Ferro Alloys Ltd. (IMFA) for the sale of its ferro alloy plant located in Jajpur, Odisha. The transaction is valued at a base consideration of ₹610 crore.

The company expects the transaction to conclude within three months, subject to the receipt of all necessary approvals. This strategic divestment aligns with Tata Steel's ongoing business objectives.

The disclosure was made in compliance with Regulation 30 and Regulation 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.