Tega Industries to Acquire Molycop: Borrowing Facility of INR 15,000 Cr Approved

Tega Industries Ltd, a leading provider of grinding media for mining industry, has announced its intention to acquire Molycop. The company's board has approved a borrowing facility of INR 15,00,00,00,000 and an investment of up to INR 36,17,00,00,000 in Tega HoldCo, a wholly owned subsidiary of the company. The company also plans to incorporate a new wholly owned subsidiary in India, India WoS, and invest up to INR 99,00,00,000 in it. These measures are aimed at financing the proposed acquisition.