Tega Industries to acquire Molycop for $1.45 bn

Tega Industries Limited announced on November 29, 2025, the execution of a definitive agreement to acquire Molycop from an affiliate of funds managed by American Industrial Partners (AIP), in consortium with funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO). The acquisition, valued at approximately $1.45 billion, follows a term sheet signed on September 10, 2025, with an initial enterprise value of $1.48 billion. This strategic move aims to position Tega as a leading player in the mining sector with an expanded global manufacturing platform of 26 facilities.

To finance the acquisition, Tega Industries successfully raised approximately INR 1,713 crores through a preferential issue of 8,592,206 equity shares. These shares, with a face value of INR 10 each, were allotted at an issue price of INR 1,994 per equity share (including a premium of INR 1,984) to various investors. The successful fundraise saw strong participation from marquee domestic institutional investors and HNIs.

The Board of Directors approved the allotment on November 28, 2025, following shareholder approval at an Extraordinary General Meeting on October 10, 2025, and in-principle approvals from both National Stock Exchange of India Limited and BSE Limited on November 14, 2025. This acquisition marks a significant milestone in Tega's corporate journey, transforming it into a leading innovation-driven MNC and a major global player.