Tata Steel Limited has signed an agreement to acquire a majority stake in Lloyds Metal and Energy Limited’s (LMEL) pellet-making subsidiary, Thriveni Pellets Private Limited (TPPL), marking a major strategic investment in India’s expanding pellet and mining ecosystem. The deal, valued at $71 million, was disclosed in Tata Steel’s regulatory filing on Thursday, December 11.
Tata Steel to hold 50.1 percent stake in TPPL
Under the agreement, Tata Steel will acquire 50.1 percent equity in TPPL from LMEL.
TPPL owns Brahamni River Pellets Limited (BRPL), which operates a 4 million mt/year iron ore pellet plant in Odisha—one of India’s most resource-rich mining regions.
Completion of the transaction is subject to approval by the Competition Commission of India (CCI), and the company expects to finalize the acquisition within three to four months.
Strategic focus on value-added steel, mining assets and low-carbon growth
Tata Steel stated that the acquisition aligns with its broader strategy of investing in volume growth, value-added downstream products, mining and logistics infrastructure and low-carbon, capital-intensive steelmaking technologies.
The company emphasized that strengthening its pellet and raw material capabilities will support long-term, sustainable steel production.
Tata Steel and LMEL to explore wider collaboration
Beyond the pellet acquisition, Tata Steel and LMEL have also signed a second agreement aimed at jointly exploring collaboration opportunities across several strategic areas. These include mining, logistics, pellet production and steel manufacturing. The two companies plan to assess potential synergies in these fields to support long-term growth and operational integration.
As part of this framework, Tata Steel will also evaluate potential participation in LMEL’s proposed greenfield steel mill in Maharashtra.
Tata Steel added that any potential project under the partnership will undergo detailed analysis, due diligence, internal review, and require regulatory approvals before any final commitment.
