MDK Properties and Estates Private Limited has acquired a 14.43% stake in TMT India Limited through an open offer. The disclosure, filed on August 20, 2026, confirms the entity's participation in the substantial acquisition of shares under SEBI regulations.

The acquirer, formerly known as MK Profinlease Private Limited, acted as part of a consortium that includes Scaffold Properties Private Limited and Yoga Builders Private Limited. This group initiated a mandatory open offer under the SEBI Substantial Acquisition of Shares and Takeovers (SAST) Regulations. The transaction was executed off-market on August 17, 2026.

Acquisition Details

MDK Properties acquired 7,14,600 equity shares from Ms. T G Aruna, a member of TMT India’s promoter group. Prior to this transaction, MDK Properties held no shares in the listed entity. Post-acquisition, its holding stands at 7,14,600 shares, representing 14.43% of the total voting share capital. The shares are free of encumbrances, pledges, or liens.

Promoter Group Changes

Ms. Aruna’s holding in TMT India was reduced from 14,29,200 shares (28.85%) to 7,14,600 shares (14.43%). She remains part of the promoter group, along with persons acting in concert (PAC) Mr. Tumbalamgooty Veera Prasad and Mr. Naag Rohit. The total equity share capital of TMT India Limited remains unchanged at ₹4,95,38,000.

The disclosure was submitted to the Bombay Stock Exchange (BSE) under Regulation 29(1) of the SEBI SAST Regulations, 2011. TMT India Limited is listed on BSE under Scrip Code 522171.

The Committee of Independent Directors of TMT (India) Limited has determined that the open offer by a group of acquirers to purchase a 26.00% stake in the company is fair and reasonable. The committee's assessment, communicated to BSE Limited on July 03, 2026, provides shareholders with a recommendation regarding the proposed acquisition of up to 12,87,988 equity shares at a price of ₹10 per fully paid-up equity share.

The open offer is being made by Yoga Builders Private Limited (Acquirer-1), Scaffold Properties Private Limited (Acquirer-2), and Mk Profinlease Private Limited (Acquirer-3). The offer targets 12,87,988 equity shares of ₹10 each, representing 26.00% of the fully paid-up and voting share capital of TMT (India) Limited. The committee reviewed the regulatory filings, including the Public Announcement dated April 20, 2026, the Detailed Public Statement published on April 27, 2026, and the Letter of Offer dated June 24, 2026, before arriving at its conclusion.

Key Details of the Open Offer

The following table outlines the specific parameters of the open offer evaluated by the committee:

The committee, chaired by Sunitha Markonda, met on July 03, 2026, to discuss, analyse, and review the offer documents. The conclusion that the offer is fair and reasonable is based on the examination of the terms outlined in the Letter of Offer and preceding public announcements. This recommendation is intended to assist the shareholders of TMT (India) Limited in making an informed decision regarding the open offer.