Kolkata: Tega Industries Limited (NSE: TEGA) has announced the execution of 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. The acquisition will be undertaken in partnership with funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO).
This milestone follows the earlier term sheet signed on 10 September 2025, where Tega and Apollo had agreed to acquire Molycop at an enterprise value of approximately USD 1.48 billion. The definitive agreement now values the transaction at around USD 1.45 billion. Completion of the deal remains subject to customary closing conditions, including regulatory approvals.
Upon successful closing, Tega will emerge as a formidable global player in the mining consumables sector. The acquisition will expand its manufacturing footprint to 26 facilities worldwide, broaden its customer base, and enable the company to deliver a comprehensive suite of solutions to mining and mineral processing industries.
In parallel, Tega has successfully completed a preferential issue of equity shares, raising approximately INR 1,713 crores. The allotment was made at an issue price of INR 1,994 per equity share (face value INR 10, including a premium of INR 1,984). The fundraise witnessed strong participation from marquee domestic institutional investors and high-net-worth individuals, underscoring market confidence in Tega’s growth trajectory.
This acquisition marks a defining chapter in Tega’s corporate journey, transforming it from a robust Indian enterprise into one of India’s leading innovation-driven multinational corporations with significant global influence.
Founded in 1976 and headquartered in Kolkata, Tega Industries designs and manufactures critical-to-operate consumables for mining, mineral processing, and material handling industries. With a presence in over 92 countries, the company partners with leading mining and minerals enterprises to deliver tailored, innovative solutions that address complex operational challenges and foster long-term growth.
