Tata Steel Acquires Majority Stake in Thriveni Pellets for $636 Crore to Boost Raw Material Supply Chain

Tata Steel Ltd. has announced the acquisition of a 50.01% equity stake in Thriveni Pellets Private Limited for a consideration of up to $636 crore. The acquisition aims to secure a pellet making facility for the supply of iron ore pellets to Tata Steel in India. The transaction is subject to approval from the Competition Commission of India and is expected to be completed within 3-4 months, subject to necessary regulatory approvals. Tata Steel acquired 90,06,801 shares of face value =10/- each, comprising 50.01% equity stake in TPPL from Thriveni Earthmovers Private Limited. The acquisition is part of Tata Steel's long-term growth strategy for its India business, focusing on volume growth, value-added downstream portfolio, identified mining assets and infrastructure, and new low carbon low capital intensity process technologies for sustainable steel making.