Acquisitions4 Nov 2025, 02:16 pm
IMFA Acquires Tata Steel’s Ferro Chrome Plant at Kalinganagar, Becoming India’s Largest Producer
AI Summary
Indian Metals & Ferro Alloys Ltd (IMFA) has signed definitive agreements to acquire Tata Steel Limited’s (TSL) ferro chrome plant in Kalinganagar, Odisha. The acquisition will add 99 MVA furnace capacity for a base purchase consideration of Rs 610 crores, making IMFA the country’s largest producer and 6th largest globally with total capacity in excess of 0.5 million tonnes. The acquisition is expected to close in 3 months and will be funded from internal accruals. IMFA also announced 50% interim dividend at its meeting.
Key Highlights
- IMFA acquires Tata Steel’s ferro chrome plant at Kalinganagar for a base purchase consideration of Rs 610 crores
- Deal will be financed entirely from internal accruals
- 99 MVA furnace capacity being acquired: 66 MVA existing and 33 MVA under construction
- Proximity to captive chrome ore mines and upcoming greenfield expansion project will lead to significant cost savings and operational synergies
- IMFA becomes India’s largest producer of ferro chrome and the 6th largest globally