Tata Steel board approves Rs 636 cr Thriveni Pellets majority stake buy

• Tata Steel's board approved acquiring a 50.01% stake in Thriveni Pellets Pvt Ltd (TPPL) for up to Rs 636 crore.
• The acquisition aims to bolster Tata Steel's raw material supply chain; TPPL owns a 4 MTPA pellet plant in Odisha.
• Tata Steel and Lloyds Metals signed an MoU to explore strategic partnerships in raw material mining, logistics, pellet, and steel making.
• The board approved a long-term growth strategy for its India business, prioritizing investments in volume growth and downstream portfolio.
• In-principle approval was given for a 4.8 MTPA capacity expansion at Neelachal Ispat Nigam Ltd (NINL) and a 2.5 MTPA finished steel capacity expansion at Tata Steel Meramandali.

Why It Matters: This acquisition secures Tata Steel's raw materials and expands its steel production.