IMFA Completes Rs. 707 Cr. Acquisition of Tata Steel’s Ferro Chrome Plant
Indian Metals and Ferro Alloys Ltd. (IMFA) has completed the acquisition of Tata Steel Ltd.’s (TSL) Ferro Chrome plant located at Kalinganagar in Jajpur, Odisha. The acquisition cost for this Ferro Chrome plant amounted to Rs. 707.27 crore.
The companies signed the Asset Transfer Agreement (ATA) for this acquisition on 4th November 2025.
Coming to the approvals, IMFA has acquired green light from Odisha Industrial Infrastructure Development Corporation (IDCO) for transfer of lease of 115.300 acres of land to IMFA from Tata Steel. In addition, the company also acquired its GST Registration Certificate for operating the unit and has formalized ownership and possession of assets for the ferrochrome plant.
As for the objective of this acquisition, the company’s stock filing read, “The acquisition was in line with the Company’s strategy to drive the next phase of growth in its Ferro Chrome Business by expanding capacity”. Explaining further, IMFA also mentioned that this facility’s proximity to its captive mines and upcoming greenfield project in Kaliganagar will result in operational synergy.
