Yoga Builders Private Limited, Scaffold Properties Private Limited, and MDK Properties and Estates Private Limited (formerly known as MK Profinlease Private Limited) have acquired a combined 68.21% stake in tmt india , becoming the company’s new promoters. The consortium completed the acquisition through a combination of a Share Purchase Agreement (SPA) and an open offer for up to 12,87,988 equity shares representing 26.00% of the voting share capital. The open offer was priced at ₹10 per fully paid-up equity share, with consideration paid on July 27, 2026. This transaction results in the existing promoter group ceasing to be promoters and being reclassified as public category shareholders under Regulation 31A(10) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations.

The post-offer advertisement was issued by Navigant Corporate Advisors Limited, the manager to the offer, in compliance with Regulation 18(12) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The detailed public statement was published on April 27, 2026, in Financial Express, Jansatta, Pratahkal, and Mana Telangana. The open offer opened on July 8, 2026, and closed on July 21, 2026. Venture Capital & Corporate Investments Private Limited served as the registrar to the offer.

Offer Performance and Shareholding Changes

The acquirers proposed to acquire up to 12,87,988 shares via the open offer but accepted only 7,62,990 shares after receiving tenders for 7,63,090 shares. The total size of the actual acquisition through the open offer amounted to ₹76,29,900, compared to the proposed ₹1,28,79,880. The acquirers had no shareholding prior to the Share Purchase Agreement.

What the Numbers Show

The final stake acquired by the consortium stands at 68.21%, significantly lower than the proposed 78.81%. This divergence stems from lower tender participation in the open offer; only 59.3% of the target shares were tendered against the 100% uptake initially planned. Consequently, the public shareholding remains robust at 31.79%, well above the mandatory 25% public float requirement under SEBI listing norms. The existing promoters, now reclassified as public shareholders, hold a substantial portion of this float, ensuring continued liquidity and market depth for the stock despite the change in control.

Navigant Corporate Advisors Limited, the manager to the offer, announced the opening of the open offer to acquire up to 12,87,988 equity shares, representing 26.00% of the fully paid-up and voting share capital of TMT (India) Limited . The offer price is fixed at Rs. 10 per fully paid-up equity share. The offer, made by Yoga Builders Private Limited, Scaffold Properties Private Limited, and MDK Properties and Estates Private Limited, opened on July 8, 2026, and will close on July 21, 2026.

The Committee of Independent Directors of the target company has recommended that shareholders accept the offer. The committee deemed the price of Rs. 10 per share fair and reasonable, noting it exceeds the certified fair value of Rs. 6.75 per share as per a valuation report dated April 20, 2026. The recommendation was published in newspapers on July 6, 2026.

Schedule of Offer Activities

The revised schedule of activities for the open offer is detailed below:

The Letter of Offer was dispatched to shareholders on July 1, 2026. Shareholders can tender shares through their respective brokers or apply on plain paper. The Draft Letter of Offer was submitted to SEBI on May 5, 2026, and final observations were received on June 19, 2026. There are no material changes from the date of the Public Announcement.