Tata Steel Acquires 50.01% Stake in Thriveni Pellets for ₹636 Crore
Filing Summary
Tata Steel Limited has approved the acquisition of a 50.01% equity stake in Thriveni Pellets Private Limited (TPPL) from Thriveni Earthmovers Private Limited for up to ₹636 crore. The transaction involves the purchase of 90,06,801 shares, subject to regulatory approvals, including from the Competition Commission of India. TPPL, which owns Brahmani River Pellets Limited, operates a 4 MTPA pellet plant in Odisha. The acquisition is expected to be completed within 3-4 months. Tata Steel aims to secure a pellet-making facility to supply iron ore pellets in India.
Tata Steel Limited has announced the acquisition of a 50.01% equity stake in Thriveni Pellets Private Limited (TPPL) from Thriveni Earthmovers Private Limited (TEMPL). The transaction was approved by Tata Steel’s Board on December 10, 2025, for a consideration of up to ₹636 crore. This acquisition involves the purchase of 90,06,801 shares of TPPL, each with a face value of ₹10.
The financial terms of the acquisition specify a cash consideration of up to ₹636 crore, subject to closing adjustments. The transaction is not classified as a related party transaction, as Tata Steel and TEMPL are not related parties. The acquisition is intended to secure a pellet-making facility to supply iron ore pellets to Tata Steel in India.
Operationally, TPPL holds a 100% stake in Brahmani River Pellets Limited (BRPL), which operates a 4 million tonnes per annum (MTPA) pellet plant located in Jajpur, Odisha. Additionally, BRPL manages a 212-kilometer slurry pipeline. The acquisition aligns with Tata Steel’s strategy to enhance its supply chain for iron ore pellets within India.
The timeline for the completion of this acquisition is projected to be within 3 to 4 months, contingent upon receiving necessary regulatory approvals, including from the Competition Commission of India. The Board meeting that approved this acquisition commenced at 10:00 a.m. and concluded at 4:30 p.m. on December 10, 2025.
The parties involved in this transaction include Tata Steel, which will hold a 50.01% stake in TPPL post-acquisition, and Llyods Metals & Energy Limited (LMEL), which will retain the remaining 49.99% stake. TEMPL, the current majority stakeholder, is selling its entire stake to Tata Steel.
In terms of market context, TPPL operates in the manufacturing and trading of iron ore pellets. The acquisition is part of Tata Steel’s broader strategy to secure raw material supplies and enhance its operational capabilities in India. TPPL’s past financial performance includes a turnover of ₹2,479 crore for FY 2024-25, with a net worth of ₹1,472 crore for the same period.
Tata Steel is a leading global steel company with a focus on sustainable growth and innovation. The company is committed to expanding its operations and securing strategic assets to support its long-term objectives in the steel industry. Tata Steel’s initiatives include investments in capacity expansion, value-added products, and sustainable technologies.