Revised Outcome of Board Meeting - September 21, 2026

Board Meeting Details

The Board of Directors meeting was held on Saturday, September 05, 2026, from 7:30 PM to 9:30 PM IST.

Key Board Approvals

The Board considered and approved the following matters:

1. Authorized Share Capital Increase
  • Proposal to increase authorized share capital from ₹10,00,00,000 (1 crore equity shares of ₹10 each) to ₹100,00,00,000 (10 crore equity shares of ₹10 each)
  • Subject to shareholder approval
2. Acquisition of Shakti Auto Industries Private Limited
  • Approval to acquire 100% equity share capital of Shakti Auto Industries Private Limited
  • Execution of Share Purchase and Share Subscription Agreement (SPSSA) approved
  • Target Company Details:
  • Incorporated: December 9, 2016
  • Business: Leading recycling company specializing in manufacturing high-quality aluminium alloys using aluminium scrap
  • Annual production capacity: 60,000 metric tons (aluminium alloy ingots and molten metal)
  • Facility: 8-acre facility at Takve, Pune with integrated scrap storage and advanced sorting facilities
  • Financial Performance:
  • FY 2025-26 Turnover: ₹545.51 crore (standalone)
  • FY 2024-25 Turnover: ₹444.40 crore
  • FY 2023-24 Turnover: ₹397.30 crore
  • Country of Presence: India
  • Acquisition Details:
  • Consideration: ₹20,50,00,000 (Twenty Crore Fifty Lakhs)
  • Payment Method: Swapping of shares (non-cash)
  • Shares to be issued: 2,05,00,000 equity shares of ₹10 each at ₹10 per share
  • Expected completion: Within 3 months, subject to conditions precedent
  • Not a related party transaction
3. Preferential Issue - Non-Cash Consideration (Annexure II)
  • Issuance of up to 2,05,00,000 equity shares of ₹10 each at ₹10 per share
  • Aggregate consideration: ₹20,50,00,000
  • Allottees: Persons forming part of non-promoter category (shareholders of Selling Company)
  • Post-allotment shareholding impact:
  • Shakti Tiwari: 1,47,29,250 shares (15.09%)
  • Rupam Tiwari: 47,45,750 shares (4.86%)
  • Amrendra Kumar Tiwari: 10,25,000 shares (1.05%)
4. Preferential Issue - Cash Consideration (Annexure III - Revised)
  • Issuance of up to 7,21,65,000 equity shares of ₹10 each at ₹10 per share
  • Aggregate consideration: ₹72,16,50,000
  • Allottees: Persons forming part of promoter, promoter group, and non-promoter public category
  • Major allottees and post-allotment impact:
  • Yoga Builders Private Limited: 1,70,00,000 shares (19.41% holding)
  • Scaffold Properties Private Limited: 1,05,00,000 shares (11.49% holding)
  • D k Web Technologies Private Limited: 1,00,00,000 shares (10.24% holding)
  • Bkc Properties Private Limited: 1,00,00,000 shares (10.24% holding)
  • Genext Hardware & Parks Private Limited: 89,00,000 shares (9.12% holding)
  • 15 other individual allottees with allocations ranging from 50,000 to 55,40,000 shares
5. Constitutional Changes
  • Alteration of Memorandum and Articles of Association to reflect increased authorized capital
  • Adoption of new Memorandum and Articles of Association in conformity with Companies Act, 2013
  • Alteration of Main Object Clause of Memorandum of Association
6. Borrowing and Charging Limits
  • Enhancement of borrowing limits up to ₹500 crores pursuant to Section 180(1)(c)
  • Increasing limits for creation of charge/mortgage/hypothecation on assets up to ₹500 crores pursuant to Section 180(1)(a)
7. Corporate Identity Changes
  • Change of company name from "TMT INDIA LIMITED" to "SHAKTI AUTO INDUSTRIES LIMITED"
  • Shifting of Registered Office from Telangana to Maharashtra
8. Corporate Calendar
  • Extra Ordinary General Meeting scheduled for Wednesday, September 30, 2026, at 3:00 PM IST
  • Venue: 1st Floor, Punnaiah Plaza, Road No. 2, Banjara Hills, Hyderabad, Telangana, 500034
  • Closure of Register of Members & Share Transfer Books: September 24, 2026, to September 30, 2026 (both days inclusive)
  • Annual Report for FY 2025-26 approved

Financial Impact

All proposals are subject to shareholder and stock exchange approvals. The acquisition and preferential issues will significantly alter the capital structure and business profile of the company.

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