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DMD Advocates advised Indian Metals & Ferro Alloys Limited (IMFA), India’s leading fully integrated producer of value-added ferro chrome, on its acquisition of Tata Steel Limited’s ferro chrome plant set up on 115 acres of land, located at Kalinganagar, Odisha, by way of an asset purchase transaction.
Under the definitive agreements, IMFA will acquire 99 MVA furnace capacity (66 MVA existing and 33 MVA under construction) for a base purchase consideration of ₹610 crore. DMD was involved in legal due diligence, as well as drafting, negotiating, and finalizing the transaction documents.
The transaction was led by Rashi Dhir (Senior Partner & Head of Corporate), along with Tarinee Sudan (Partner), Shubhangi Bhatnagar (Principal Associate), Aditi Kumari (Associate), Srishti Pandey (Associate), Jasmine Brar (Associate), Sarvagya Shankar (Associate), and Shriya Sehgal (Associate).