Tata Steel acquires majority stake in Thriveni Pellets for ₹636 crore

Tata Steel Limited announced its acquisition of a 50.01% equity stake in Thriveni Pellets Private Limited (TPPL) from Thriveni Earthmovers Private Limited (TEMPL) for a cash consideration of up to ₹636 crore. This transaction, subject to regulatory approvals from the Competition Commission of India, is expected to conclude within three to four months. The acquisition aims to secure a pellet-making facility for the supply of iron ore pellets to Tata Steel in India.

TPPL holds a 100% stake in Brahmani River Pellets Limited (BRPL), which operates a 4 MTPA pellet plant in Jajpur, Odisha, and a 212-kilometer slurry pipeline. Post-transaction, Tata Steel will hold 50.01% of TPPL, with the remaining 49.99% continuing to be held by Lloyds Metals & Energy Limited (LMEL). The share purchase is an arm's length transaction, with no related party involvement from Tata Steel or its promoter/promoter group.

TPPL reported turnovers of ₹2,479.34 crore for FY 24-25, ₹2,487.55 crore for FY 23-24, and ₹2,614.04 crore for FY 22-23. Its net worth was ₹1,472.80 crore for FY 24-25, ₹1,268.70 crore for FY 23-24, and ₹1,224.96 crore for FY 22-23.