Tega Industries Limited (NSE: TEGA) – Completion of Acquisition of Molycop Group

Date of Announcement: 2 June 2026

Introduction

Tega Industries Limited (NSE symbol TEGA) disclosed that it has completed the acquisition of the equity interests of the Molycop group, a global supplier of grinding media and related products for the mining industry.

Transaction Overview

Financial Highlights (as disclosed)

• Turnover of Tega Industries (FY 2022‑2023): INR 148,570,000,000
• Turnover of Molycop (target): INR 1,351,572,300,000
• Net Worth of Target: INR ‑3,689,700,000 (negative)
• Profit After Tax of Target: INR ‑43,749,300,000 (negative)

All monetary figures are presented exactly as disclosed; no conversion or additional analysis has been applied.

Strategic Rationale

• Portfolio Expansion: Integration of Molycop’s grinding media and patented products will broaden Tega’s offering of “critical‑to‑operate” consumables across the mining value chain (crushing, grinding, concentrating, refining).
• End‑to‑End Solutions: The combined entity will be able to supply a complete basket of products—including mill liners, transfer chutes, trommels, screen decks, conveyor accessories, and processing equipment—covering primary beneficiation to extractive metallurgy.
• Supply‑Chain Integration: Access to Molycop’s global distribution network (presence in >40 countries, including the USA, Canada, Australia, Indonesia, etc.) and a backward‑integrated manufacturing base will strengthen Tega’s worldwide reach.
• R&D Synergies: Collaboration with Molycop’s patented product portfolio is expected to enhance in‑house research and development capabilities.
• Market Positioning: Post‑acquisition, Tega aims to become one of the world’s leading designers and manufacturers of consumables for mining, mineral processing, and material handling industries.

Regulatory & Compliance

• The acquisition required and received customary regulatory and antitrust approvals.
• No related‑party concerns were identified; the promoters and related entities have no interest in the target.
• The transaction complies with Regulation 30 (Restructuring – New Acquisition) as disclosed.

Ownership Impact

• Control: Tega now holds 84.2 % of the equity of the Molycop group.
• Shareholding: No additional shares were issued; the existing shareholding remains unchanged (0 % prior).

Bottom Line for Investors

Tega Industries has finalized a cash acquisition of the Molycop group, significantly expanding its product suite and global footprint in the mining consumables sector. The deal, valued at USD 393 million (plus contingent considerations) and funded with INR 35.62 billion in cash, gives Tega a controlling stake (84.2 %) and positions the company to offer a comprehensive, integrated solution set across the mining value chain. All required regulatory clearances have been obtained, and the transaction is now complete.