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Corporate News
29-Nov-2025     09:50
Tega Industries inks deal to acquire American Industrial Partners

Tega Industries has entered into a definitive agreement with an affiliate of funds managed by American Industrial Partners (AIP) to acquire Molycop, a leading global supplier of grinding media for the mining industry, alongside funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO). The company has also announced the successful completion of its fundraise by way of a preferential issue of equity shares.

On 10 September 2025, Tega Industries Limited, in consortium with funds managed by affiliates of Apollo (NYSE: APO), entered into a term sheet to acquire Molycop at an enterprise value of approx. USD 1.48 billion. The parties have executed a definitive agreement to acquire Molycop with an enterprise value of approx. USD 1.45 billion.

Tega will become a leading player in the sector at a time when mineral demand is poised to grow exponentially, upon completion of the acquisition. The completion of the transaction is subject to customary closing conditions, including receipt of required regulatory approvals.

Upon closing of the transaction, Tega will operate an extensive manufacturing platform comprising 26 manufacturing facilities across the globe, gain access to an expanded customer base, and be able to offer a comprehensive bouquet of solutions to its customers.

The Company has raised approx. Rs 1,713 crore. After having obtained all requisite approvals, the allotment of equity shares of face value Rs 10 each is at an issue price of Rs 1,994 per equity share (including a premium of Rs 1,984). This fundraise was notable as it witnessed a very strong response from marquee domestic institutional investors and HNIs.

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