Tata Steel Limited said it has agreed to acquire a 50.01 percent equity stake in Thriveni Pellets Private Limited (TPPL) for an aggregate cash consideration of up to INR 6.36 billion, with the transaction subject to customary closing adjustments and regulatory approvals. The shares acquired total 9,006,801 of face value INR 10 each, giving Tata Steel majority control of TPPL, which holds 100 percent of Brahmani River Pellets Limited that operates a 4 million tonnes per annum pellet plant and a 212 kilometre slurry pipeline at Jajpur, Odisha.
The company said in a stock exchange filing that the acquisition is intended to secure pellet-making capacity to supply iron ore pellets to Tata Steel’s India operations and that the transaction is expected to complete within three to four months, subject to approval by the Competition Commission of India.
In the same board meeting the company disclosed a set of capital and strategic initiatives for its India business. The board granted in-principle approval for a 4.8 million tonnes per annum capacity expansion at Neelachal Ispat Nigam Limited and approved funds to undertake design and engineering for a 2.5 million tonnes Thin Slab Caster and rolling facilities at Meramandali to expand thinner gauge finished steel capacity. The board also approved plans to establish a 0.7 million tonnes Hot Rolled Pickling and Galvanizing Line at the company’s Tarapur cold rolling complex.
Tata Steel said it has signed a memorandum of understanding with Lloyd Metals & Energy Ltd to explore mining, logistics including slurry pipeline, pellet and steel-making opportunities in Gadchiroli, Maharashtra, including assessment of a potential greenfield 6 million tonnes steel capacity in phases. The board also approved commencement of engineering work and regulatory processes for a proposed demonstration HIsarna low-carbon steelmaking plant of around 1 million tonnes per annum at Jamshedpur.
Tata Steel Limited is a vertically integrated steel producer with a reported consolidated turnover of about US$26 billion for the year ended 31 March 2025 and an annual crude steel capacity of 35 million tonnes per annum.
