Indian Metals & Ferro Alloys (IMFA) has approved the acquisition of Tata Steel's Ferro Alloys plant in Kalinganagar, Odisha, for a base consideration of Rs 610 Cr.

This strategic move aims to significantly expand IMFA's Ferro Alloys capacity and drive future growth.

The acquisition offers strong locational advantages and cost synergies, leveraging proximity to IMFA's captive mines and upcoming projects.

This deal will enhance IMFA's ability to tap into new market opportunities, especially within the domestic sector, solidifying its operational footprint and market position.

The transaction is subject to necessary statutory approvals.