Tega Industries to Acquire Global Mining Consumables Leader Molycop in $1.5 Billion Deal

Tega Industries Ltd on Wednesday (September 10) said its board has approved a term sheet to acquire Molycop, a global leader in mining consumables, in partnership with Apollo Funds. The deal is valued at around $1.5 billion and represents one of the largest overseas acquisitions by an Indian company in the mining solutions space.

Deal Structure and Execution

According to the company’s exchange filing, the acquisition will be executed through a special purpose vehicle (SPV) jointly formed by Tega and Apollo Funds. The consortium will purchase 100% of AIP MC Holdings LLC and its subsidiaries, which operate under the Molycop brand.

The consideration for the proposed acquisition will be entirely in cash. The deal is subject to regulatory approvals and customary closing conditions, with completion targeted by December 31, 2025.

Upon closure, Tega Industries will become the controlling shareholder of Molycop, while Apollo Funds will hold a significant minority equity stake.

Management Commentary

Mehul Mohanka, Managing Director and Group CEO of Tega Industries, told CNBC TV18:
“With this strategic acquisition, and in partnership with Apollo Funds, we will accelerate innovation, greatly expand market reach, and create significant value for our customers.”

Jim Anderson, CEO of Molycop, added:
“Joining forces with Tega and Apollo Funds will open up an exciting new chapter for Molycop. The synergy is clear to see. Our shared values and complementing strengths will help us accelerate our strategy, innovate better, and serve customers across the globe more effectively.”

Tega Industries Limited Share Price Performance

On September 10, 2025, Tega Industries Limited share price opened at ₹2,107.90, compared to the previous close of ₹2,094.10. During the session, the stock touched a high of ₹2,112.90 and a low of ₹2,055.00 before closing at ₹2,081.70, down by 0.86% at the end of the trading day.

The stock recorded a traded volume of 4.01 lakh shares and a traded value of ₹83.54 crore on the NSE. The total market capitalisation stood at ₹13,812.77 crore, with a free float market cap of ₹3,474.62 crore. Over the past 52 weeks, the stock has hit a high of ₹2,328.90 and a low of ₹1,200.05. Tega Industries Limited is currently trading at a P/E ratio of 71.79.

Conclusion

The acquisition of Molycop positions Tega Industries as a major global player in the mining consumables sector. Backed by Apollo Funds, the move strengthens its international footprint and enhances its innovation-driven growth strategy.

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