IMFA Completes Acquisition of Tata Steel's Ferro Chrome Plant for ₹610 Crore
IMFA has completed the acquisition of Tata Steel's Ferro Chrome plant in Kalinganagar, Odisha. The deal includes a base consideration of ₹610 crore plus ₹68.06 crore GST, and Net Working Capital of ₹29.21 crore. This strategic move aims to expand IMFA's Ferro Chrome Business capacity.
The acquisition of a Ferro Chrome plant is a significant corporate action that is expected to substantially impact the company's business operations and market position.
The acquisition is a strategic move for IMFA to expand its capacity and leverage cost synergies, indicating positive future growth prospects.
Indian Metals & Ferro Alloys Limited (IMFA) has successfully completed the acquisition of the Ferro Chrome plant from Tata Steel Limited (TSL), located in Kalinganagar, Jajpur, Odisha. This acquisition, pursuant to the Asset Transfer Agreement (ATA) executed on November 4, 2025, marks a significant step in IMFA's strategy to expand its Ferro Chrome Business capacity.
The total consideration for the acquisition amounts to ₹610 crore, plus applicable GST of ₹68.06 crore. Additionally, the company has taken over Net Working Capital (NWC) valued at ₹29.21 crore (inclusive of applicable GST). This move is expected to leverage locational advantages and cost synergies due to the plant's proximity to IMFA's captive mines and its upcoming greenfield project in Kalinganagar.
The acquisition process involved obtaining necessary approvals, including in-principle approval from IDCO for land transfer, a GST Registration Certificate, and closing memorandum sign-off from TSL. Further approvals from the Ministry of Environment, Forest and Climate Change, Government of India, and factory licensing are being initiated. The transaction was completed within the stipulated timeframe of three to six months as per the ATA.
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Indian Metals & Ferro Alloys Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Indian Metals & Ferro Alloys Limited. Read the original for the full detail.