Tata Steel has approved the acquisition of a 50.01% stake in Thriveni Pellets Pvt Ltd (TPPL) from Thriveni Earthmovers Pvt Ltd for up to ₹636 crore. The deal covers 90,06,801 equity shares of ₹10 each, with the final payment subject to closing adjustments. The transaction is expected to be completed within three to four months, pending regulatory approvals, including from the Competition Commission of India.
TPPL’s Assets and Ownership Structure
TPPL owns 100% of Brahmani River Pellets Ltd, which operates a 4 MTPA pellet plant in Jajpur, Odisha, supported by a 212-km slurry pipeline. Prior to the acquisition, TPPL was held 50.01% by Thriveni Earthmovers and 49.99% by Lloyds Metals & Energy Ltd. Following the deal, Tata Steel will hold the majority stake, with Lloyds Metals retaining its 49.99% share.
Strategic Rationale
TPPL is engaged in manufacturing and trading iron ore pellets. The acquisition will provide Tata Steel direct access to additional pellet capacity, strengthening supply for its Indian operations. The company clarified that TPPL has no related-party links to Tata Steel or Thriveni Earthmovers’ promoter groups.
Other Key Board Decisions
Tata Steel’s board reviewed several ongoing and proposed capital projects, approving in-principle a 4.8 MTPA expansion at Neelachal Ispat Nigam Ltd. It also sanctioned funding for design and engineering of a 2.5 MTPA thin slab caster and rolling unit at Meramandali, and approved installation of a 0.7 MTPA hot rolled pickling and galvanising line at Tarapur.
MoU With Lloyds Metals
The company has signed an MoU with Lloyds Metals to explore collaboration across mining, slurry pipelines, pellet plants and steel projects in resource-rich regions such as Gadchiroli, subject to due diligence and approvals.
Summary
Tata Steel will acquire a 50.01% stake in Thriveni Pellets for up to ₹636 crore, giving it majority control of a 4 MTPA pellet plant and a 212-km slurry pipeline. The deal enhances Tata Steel’s pellet supply for domestic operations. The board also approved major expansion projects at Neelachal, Meramandali and Tarapur. Additionally, Tata Steel and Lloyds Metals signed an MoU to explore collaboration in mining and steel-related infrastructure.
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