Indian Metals & Ferro Alloys Limited has successfully recommenced operations at its newly acquired Ferro Chrome Plant in Kalinganagar, Odisha, marking a significant operational milestone for the company. The restart represents a key development in the company's manufacturing capabilities and expansion strategy.

Operational Restart Details

The company announced that it switched on two furnaces at the Kalinganagar facility on March 11, 2026. This operational restart follows the company's earlier disclosure made to stock exchanges on February 27, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Future Operations Plan

The company has indicated that the remaining two furnaces at the facility are planned to be switched on shortly. Indian Metals & Ferro Alloys Limited has committed to communicating updates regarding the activation of these additional furnaces as they become operational.

Regulatory Compliance

This disclosure was made in continuation of the company's earlier communication to stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was signed by Smruti Ranjan Ray, Company Secretary & Compliance Officer, ensuring proper regulatory compliance and transparency with stakeholders.

The recommencement of operations at this newly acquired facility represents an important step in the company's operational expansion and manufacturing capacity enhancement in the ferro chrome segment.

Tata Steel Limited has successfully completed the sale of its Ferro Alloy Plant at Jajpur, Odisha to Indian Metals & Ferro Alloys Limited for a base consideration of ₹610 crore. The transaction was officially completed on February 27, 2026, following the Asset Transfer Agreement executed on November 4, 2025.

Transaction Details

The divestment involves the complete transfer of Tata Steel's Ferro Alloy Plant assets located at Jajpur, Odisha to IMFA. The company disclosed the completion through an official communication to stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The transaction represents Tata Steel's continued focus on optimizing its asset portfolio while enabling IMFA to expand its ferro alloy operations in Odisha.

Regulatory Compliance and Approvals

Tata Steel confirmed that all necessary regulatory approvals were obtained prior to the transaction completion. The company made the disclosure in compliance with securities regulations, ensuring transparency for stakeholders and market participants. The official communication was signed by Parvatheesam Kanchinadham, Company Secretary and Chief Legal Officer.

Strategic Implications

For IMFA, the acquisition aligns with its strategic initiative to drive growth in its ferro alloy business through capacity expansion. The plant's location in Jajpur, Odisha provides operational synergies and proximity to the company's existing operations in the region.

The completion of this divestment within the anticipated timeframe demonstrates efficient execution by both parties. This transaction represents a pure asset sale structure, with Tata Steel focusing on portfolio optimization while IMFA strengthens its position in the domestic ferro alloy market.