TMT India Completes Committee Review, Declares Open Offer as Fair and Reasonable
The Company's Committee of Independent Directors has concluded that the open offer for TMT India Limited is fair and reasonable, following a comprehensive review of all related documents. This determination confirms the terms set forth in the open offer initiated by three acquiring entities.The Committee meeting confirmed the analysis and review of the open offer proposed by Yoga Builders Private Limited (Acquirer-1), Scaffold Properties Private Limited (Acquirer-2), and Mk Profinlease Private Limited (Acquirer-3). The committee examined 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.
The open offer provides an opportunity to acquire up to 12,87,988 equity shares of TMT India Limited at a fixed price. This transaction involves 26.00% of the fully paid-up and voting share capital.
Key details concerning the open offer are summarized below:
| Parameter | Details |
|---|---|
| Target Company | TMT India Limited |
| Acquirers | Yoga Builders Private Limited, Scaffold Properties Private Limited, Mk Profinlease Private Limited |
| Offer Price | Rs. 10 per fully paid-up Equity Share |
| Maximum Shares Available | 12,87,988 equity shares of Rs. 10 each |
| Stake Represented | 26.00% of the fully paid up and voting share capital |
The Committee of Independent Directors confirmed that the open offer terms presented are fair to TMT India Limited.
Stock Price Movement
TMT India Ltd closed on Monday at ₹7.67, registering zero percent change against the previous close. The stock remained completely locked during trading, as its intraday high and low were both recorded at ₹7.67.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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