Kolkata, 29 November 2025: Tega Industries Limited (NSE: TEGA) has signed a definitive agreement to acquire Molycop, the global leader in grinding media solutions for the mining sector, from an affiliate of funds managed by American Industrial Partners (AIP). The acquisition is being executed in partnership with funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO).
The agreement values Molycop at an enterprise value of approximately USD 1.45 billion, slightly lower than the USD 1.48 billion proposed under the initial term sheet signed on 10 September 2025. The transaction remains subject to customary closing conditions and regulatory approvals.
Strategic Leap for Tega
Following the completion of the acquisition, Tega Industries will emerge as one of the world’s largest players in mining consumables. The combined entity will operate 26 manufacturing facilities worldwide, giving Tega access to an expanded global customer base and a significantly broader solutions portfolio. The company said the acquisition positions it strongly for the expected surge in mineral demand, particularly in copper and gold, where Molycop has an extensive presence.
Successful Equity Fundraise
Tega also announced the completion of a ₹1,713-crore preferential issue of equity shares. The shares, with a face value of ₹10 each, were allotted at ₹1,994 per share (including a premium of ₹1,984). The fundraise saw robust participation from marquee domestic institutional investors and high-net-worth individuals.
About Tega Industries
Founded in 1976 and headquartered in Kolkata, Tega Industries designs and manufactures critical consumables for mining, mineral processing and material handling industries. The company has a presence in over 92 countries and partners with leading global mining companies, offering customised solutions for complex operational challenges.
About Molycop
With a legacy of more than a century, Molycop is a leading supplier of grinding media and related chemicals used in semi-autogenous grinding (SAG) mills and ball mills. Its products are vital for the mineral extraction processes of key commodities, particularly copper and gold. The company serves 400+ mines across 40 countries and is recognised for its scale, reliability and technical expertise.