Tata Steel on Wednesday announced a major strategic move, approving 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 approval came during the company’s board meeting held on December 10, 2025.
The acquisition involves 90,06,801 shares, and will give Tata Steel majority control in TPPL, while Lloyds Metals & Energy Limited will retain the remaining 49.99% stake. TPPL owns 100% of Brahmani River Pellets Limited, which operates a 4 MTPA pellet plant in Jajpur, Odisha, along with a 212-km slurry pipeline.
According to the filing, the transaction is aimed at securing long-term pellet-making capacity to support Tata Steel’s India operations. Completion of the deal is expected within 3–4 months, subject to regulatory approvals, including clearance from the Competition Commission of India.
The board also reviewed additional long-term expansion plans for the India business, including capacity expansion at Neelachal Ispat Nigam Limited, a thin-slab caster and rolling mill at Meramandali, and downstream investments in Tarapur.
Tata Steel further announced that it will conduct a virtual investor meet on December 11, 2025, from 5:30 pm to 7:00 pm IST, to discuss matters arising from the board meeting.
