Tata Steel to Acquire 50.01% Stake in Thriveni Pellets for ₹636 Crore

11 Dec 2025 , 03:19 PM

Tata Steel said its board has approved a plan to buy a 50.01 percent stake in Thriveni Pellets Private Ltd for up to ₹636 crore. The stake will be purchased from Thriveni Earthmovers Private Ltd.

Thriveni Pellets Private Ltd fully owns Brahmani River Pellets Ltd, which operates a four million tonne pellet plant in Jajpur, Odisha, supported by a 212 kilometre slurry pipeline.

Before this transaction, Thriveni Earthmovers Private Ltd held the majority stake in the company, while Lloyds Metals and Energy Ltd owned the remaining 49.99 percent. After the acquisition, Tata Steel will take over the 50.01 percent stake and Lloyds Metals and Energy Ltd will retain its 49.99 percent share.

Tata Steel will acquire a little over ninety lakh equity shares of face value ₹10 each from Thriveni Earthmovers Private Ltd. The amount will be paid fully in cash, subject to closing adjustments.

The company stated that the deal requires approval from the Competition Commission of India and is expected to close within three to four months.

Thriveni Pellets Private Ltd is engaged in producing and selling iron ore pellets. With this acquisition, Tata Steel aims to secure consistent pellet supplies for its steel operations in India.

Tata Steel clarified that it does not have any related party connections with Thriveni Earthmovers Private Ltd, and its promoter group has no interest in Thriveni Pellets Private Ltd.

The board also reviewed long term growth plans for the India business and gave in principle approval for the first phase of a 4.8 million tonne capacity expansion at Neelachal Ispat Nigam Ltd.

Funds have been allocated to start design and engineering work for a 2.5 million tonne thin slab caster and rolling mill at Tata Steel Meramandali, and the company is progressing with the required regulatory approvals.

Tata Steel will also set up a 0.7 million tonne hot rolled pickling and galvanising line at its Tarapur cold rolling unit to strengthen its downstream offerings.

The company signed an MoU with Lloyds Metals and Energy Ltd to explore collaboration in mining, logistics including slurry pipeline infrastructure, pellet making and steel production.

Both companies will evaluate opportunities in Gadchiroli, including operating mining concessions and infrastructure assets. They will also examine plans for Tata Steel to develop a six million tonne greenfield steel plant in two phases and assess possibilities for strategic cooperation in integrated steel projects being developed by Lloyds Metals and Energy Ltd.

The board reviewed the progress of HIsarna technology trials and approved starting engineering work for a one million tonne demonstration plant in Jamshedpur. Tata Steel will now move ahead with the regulatory approval process. Tata Steel holds the global intellectual property rights for the HIsarna technology, which is positioned as a key step toward low emission steelmaking.

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