Indian Metals & Ferro Alloys Limited has informed the Exchange about Acquisition
IMFA · price
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Awaiting price reaction for this filing.
IMFA has completed the acquisition of Tata Steel Limited's Ferro Chrome plant (FAP) located at Kalinganagar, Jajpur, Odisha, under the Asset Transfer Agreement signed on 4th November 2025. The deal was completed within the 3-6 month timeline specified in the agreement. The total consideration is Rs 610 crores as base purchase price, plus Rs 68.06 crores in GST and Rs 29.21 crores for net working capital, taking the overall value to roughly Rs 707 crores. The acquisition is part of IMFA's strategy to expand its ferro chrome capacity, with cost synergies expected from proximity to its captive mines and an upcoming greenfield project in the same area. Key approvals from IDCO, GST authorities, and Tata Steel are in place, while environmental clearance, factory license, and other operational approvals are being pursued.
Positive for shareholders as it strengthens IMFA's core ferro chrome business through added capacity and expected cost synergies, supporting growth in the domestic market. Investors should note that operational approvals are still pending, which may delay full ramp-up of the acquired plant.