New Delhi, Nov. 4 -- Indian Metals & Ferro Alloys on Tuesday announced acquisition of a ferro alloys plant of Tata Steel situated in Odisha. The company also declared its Q2 results today and announced an interim dividend for FY26.

The board of directors of Indian Metals & Ferro Alloys on November 4 approved entering into an Asset Transfer Agreement (ATA) with Tata Steel Limited (TSL) for the acquisition of the assets and other acquired interests of the Ferro Alloys Plant.

The cost of acquisition is Rs.610 crore, plus applicable GST, and the value of Net Working Capital (NWC) taken over on the closing date.

"The acquisition is in line with the company's strategy to drive the next phase of growth in its Ferro Alloys Business by expandin...