News Orders & Deals Tata Steel Gains Majority Stake of 50.01% in Thriveni Pellets for ₹635.13 CroreTata Steel Gains Majority Stake of 50.01% in Thriveni Pellets for ₹635.13 Crore
Tata Steel has successfully acquired a controlling 50.01% stake in Thriveni Pellets Private Limited for ₹635.13 crore, purchasing 90,06,801 equity shares from Thriveni Earthmovers Private Limited. The transaction, completed after Competition Commission of India approval, also grants Tata Steel indirect control over Brahmani River Pellets Private Limited through TPPL's 100% ownership, with both companies now becoming subsidiaries of Tata Steel.
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Tata Steel Limited has successfully completed a significant acquisition in the pellets business, purchasing a controlling stake in Thriveni Pellets Private Limited for ₹635.13 crore. The transaction was finalized following regulatory approval from the Competition Commission of India.
Acquisition Details
The steel major acquired 90,06,801 equity shares of face value ₹10 each, representing a 50.01% equity stake in Thriveni Pellets Private Limited (TPPL). The shares were purchased from Thriveni Earthmovers Private Limited for a total consideration of ₹635.13 crore.
| Parameter: | Details |
|---|---|
| Equity Shares Acquired: | 90,06,801 shares |
| Face Value per Share: | ₹10 |
| Stake Percentage: | 50.01% |
| Total Consideration: | ₹635.13 crore |
| Seller: | Thriveni Earthmovers Private Limited |
Regulatory Approval and Timeline
The acquisition received crucial approval from the Competition Commission of India, clearing the path for completion. This regulatory clearance was essential for the transaction, which demonstrates Tata Steel's strategic expansion in the pellets segment.
Ownership Structure and Subsidiaries
Following the completion of this acquisition, Tata Steel now holds direct control of 50.01% in TPPL, while Llyods Metals & Energy Limited continues to hold the remaining 49.99% stake. The transaction also provides Tata Steel with indirect control over Brahmani River Pellets Private Limited (BRPL), as TPPL maintains 100% equity ownership in BRPL.
| Entity: | Tata Steel's Stake | Ownership Type |
|---|---|---|
| Thriveni Pellets Private Limited: | 50.01% | Direct |
| Brahmani River Pellets Private Limited: | 50.01% | Indirect (via TPPL) |
| Remaining TPPL Stake: | 49.99% (Llyods Metals & Energy) | Third Party |
Corporate Compliance
Both TPPL and BRPL have now become subsidiaries of Tata Steel Limited following the completion of this acquisition. The company has made this disclosure in compliance with Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
The announcement was signed by Parvatheesam Kanchinadham, Company Secretary and Chief Legal Officer of Tata Steel Limited, and communicated to both BSE Limited and National Stock Exchange of India Limited.
Historical Stock Returns for Tata Steel
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.44% | +0.12% | +10.67% | +30.85% | +53.48% | +210.66% |
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