Bhubaneswar: Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of value-added ferro chrome, on Friday announced the completion of its strategic acquisition of a ferro chrome plant from Tata Steel Limited in Odisha’s Kalinganagar industrial hub.
The transaction, valued at Rs 707.26 crore, comprises a base consideration of Rs 610 crore along with GST and net working capital adjustments. The acquisition has been funded entirely through internal accruals, reflecting IMFA’s strong balance sheet and financial discipline.
Spread over 115 acres, the newly acquired facility houses four furnaces with a combined production capacity of 100,000 tonnes per annum (tpa). Capacity is expected to increase to 150,000 tpa once the partially completed fifth furnace is commissioned, likely within a year.
The acquisition significantly strengthens IMFA’s production footprint and reinforces its position in the domestic ferro chrome market, a critical input for stainless steel manufacturing.
Commenting on the development, Subhrakant Panda, Managing Director, IMFA, described the acquisition as a transformative step in the company’s growth trajectory.
“This marks a key milestone in IMFA’s growth journey. We are committed to delivering value to all stakeholders through smooth and seamless integration, unlocking operational synergies. Alongside our ongoing greenfield expansion, this positions us as India’s largest producer of ferro chrome and among the foremost globally. We will continue to shape the future of ferro chrome — responsibly, sustainably and ambitiously,” Panda said.
The deal comes amid growing domestic and global demand for ferro alloys, with Indian producers scaling up capacities to strengthen their export competitiveness and consolidate market leadership
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