TMT India Limited issued a corrigendum to its Annual General Meeting (AGM) notice on September 21, 2026, to rectify typographical errors in the proposed preferential equity share allotment. The Board of Directors approved the amendment during a meeting held on the same day.

The correction specifically addresses Item No. 4 and its corresponding Explanatory Statement in the original AGM notice dated September 8, 2026. The company stated that the changes are limited to correcting inadvertent errors regarding the number of shares and shareholding percentages for certain proposed allottees. All other terms and conditions of the AGM notice remain unchanged.

Corrected Allotment Details

The corrigendum provides the finalized list of 27 proposed allottees for the preferential issue of up to 7,21,65,000 equity shares at ₹10 per share. The total aggregate consideration is approximately ₹72.16 crore.

Promoter entities continue to hold significant stakes in the proposed issuance. Yoga Builders Private Limited is allotted 1,70,00,000 shares, while Scaffold Properties Private Limited receives 1,05,00,000 shares. Two other entities, DK Web Tech Private Limited and BKC Properties Private Limited, are categorized under the Promoter Group, each receiving 1,00,00,000 shares.

The remaining shares are allocated to non-promoter investors, including Genext Hardware & Parks Private Limited (89,00,000 shares) and Vivek Lakshminath Mehrotra (55,40,000 shares). Several individual investors are allotted smaller tranches, with amounts ranging from 1,00,000 to 40,00,000 shares.

Shareholding Impact

Post-issue shareholding calculations assume full subscription of securities and full conversion of warrants into equity shares. Following the allotment, Yoga Builders Private Limited’s holding will stand at 19.41%, down from its pre-issue holding of 39.34% due to dilution from the new issuance and warrant conversions. Scaffold Properties Private Limited’s stake will adjust to 11.49% from 14.43%.

DK Web Tech Private Limited and BKC Properties Private Limited will each hold 10.24% post-issuance. Genext Hardware & Parks Private Limited will hold 9.12%, while Vivek Lakshminath Mehrotra will hold 5.68%.

Strategic Context

This preferential issue proceeds alongside the company’s planned acquisition of Shakti Auto Industries Private Limited (SAIPL). The board had previously approved increasing authorized share capital from ₹10 crore to ₹100 crore to facilitate both the acquisition via share swap and this cash-based preferential issue.

The company also plans to change its name to Shakti Auto Industries Limited and shift its registered office from Telangana to Maharashtra. Shareholders will vote on these resolutions at the Extra Ordinary General Meeting scheduled for September 30, 2026.

TMT (India) Limited approved the acquisition of 100% of Shakti Auto Industries Private Limited and proposed changing its name to Shakti Auto Industries Limited.

The board meeting held on September 5, 2026, also sanctioned a preferential issue of up to ₹92.6 crore and increased the authorized share capital from ₹10 crore to ₹100 crore. An annual general meeting is scheduled for September 30, 2026, to seek shareholder approval for these proposals.

Acquisition Details

The company will acquire the entire equity share capital of Shakti Auto Industries Private Limited, a recycling firm specializing in aluminum alloys. The target entity reported a standalone turnover of ₹54,551.07 lakh in FY26.

Shakti Auto operates an 8-acre facility in Takve, Pune, with an annual production capacity of 60,000 metric tons of aluminum alloy ingots and molten metal. The transaction is expected to complete within three months, subject to regulatory approvals. No governmental or regulatory approvals are explicitly required for the acquisition itself.

Preferential Issue

The board approved two preferential issues at an issue price of ₹10 per equity share:

1. Share Swap: Issuance of up to 2,05,00,000 equity shares (₹20.5 crore) to shareholders of Shakti Auto Industries as consideration for the acquisition.
2. Cash Issue: Issuance of up to 7,21,65,000 equity shares (₹72.16 crore) to promoters and non-promoters.

Allotment Structure

Other non-promoter allottees include Vivek Lakshminath Mehrotra (5.68%) and Ruchi Raju Shah (4.10%).

Corporate Actions

The board also approved:

• Increasing borrowing limits up to ₹500 crore.
• Increasing limits for creation of charge/mortgage on assets up to ₹500 crore.
• Altering the main object clause of the Memorandum of Association.
• Shifting the registered office from Telangana to Maharashtra.
• Adoption of new Articles of Association and Memorandum of Association.

AGM and Register Closure

The annual general meeting will be held on September 30, 2026, at 3:00 pm via video conference. The register of members and share transfer books will remain closed from September 24, 2026, to September 30, 2026.