VMS TMT

VMS TMT Limited's board approved the amalgamation of Aditya Ultra Steel Limited into the company at a meeting held on June 27, 2026. Aditya Ultra Steel manufactures TMT bars under the 'KAY2' brand for the Kutch and Saurashtra regions of Gujarat, complementing VMS's 'Kamdhenu NXT' presence in the rest of the state. For the twelve months ended March 2026, Aditya Ultra Steel reported turnover of ₹409.90 crore and net worth of ₹92.39 crore, holding a 1.08 lakh tonne annual rolling capacity. The merger will be effected through a share swap of 75 fully paid-up VMS shares for every 100 Aditya Ultra Steel shares, after which Aditya Ultra Steel will dissolve without winding up. Post-scheme, VMS's paid-up equity capital will rise to 6.82 crore shares, with promoter holding moving to 67.61% and public shareholding to 32.39%. The combined entity will operate an installed capacity of 3.08 lakh tonnes across two manufacturing sites and a consolidated distribution network of four distributors and 300 dealers, unifying the 'Kamdhenu' brand license coverage across the entire state of Gujarat.

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The board of VMS TMT Limited on 27 June 2026 approved a scheme of amalgamation to merge Aditya Ultra Steel Limited into the company. Aditya Ultra Steel manufactures TMT bars under the 'Kamdhenu' brand in the Saurashtra and Kutch regions of Gujarat while VMS TMT operates in the rest of the state. The combined entity will have a turnover of around ₹1,250 crore and a consolidated manufacturing capacity of over 300,000 tonnes per annum. Under the scheme, Aditya Ultra Steel shareholders will receive 75 equity shares of VMS TMT for every 100 shares held. The issuance will increase VMS TMT's total outstanding shares from approximately 4.96 crore to 6.83 crore, leading to a dilution of about 37.5% for existing public shareholders. The merger is expected to deliver economies of scale in procurement, production and distribution, unify the Kamdhenu brand presence, and optimise working capital and energy assets, including solar power facilities. The transaction remains subject to approvals from SEBI, NCLT and stock exchanges.

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VMS TMT Limited has reported a completed inter-se transfer of equity shares between promoters. Under the transaction, Sunny Sunil Singhi, a member of the promoter group, acquired 13,22,154 shares representing 2.66% of the company's paid-up capital from Varun Manojkumar Jain on 22 June 2026. The acquisition was an off-market inter-se transfer and does not alter the aggregate promoter and promoter group holding. This follows the withdrawal of an earlier proposed transfer to a different promoter (Rishabh Sunil Singhi), indicating a fresh reallocation among promoters. The disclosure was filed with stock exchanges on 24 June 2026 under SEBI's substantial acquisition and takeover regulations.

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VMS TMT Ltd has informed stock exchanges of a proposed inter-se transfer of equity shares between two promoters. Acquirer Rishabh Sunil Singhi will purchase 13,22,154 shares, representing 2.66% of the company's paid-up capital, from fellow promoter Varun Manojkumar Jain. The transaction is priced at ₹45 per share, close to the 60-day volume weighted average market price of ₹44.19, for a total consideration of approximately ₹5.95 crore. The transfer is scheduled to take place on or after June 17, 2026, under an exemption from the mandatory open offer requirement under SEBI's Takeover Code. The aggregate shareholding of the promoter and promoter group in the company will remain unchanged after the transfer. The transaction is classified as an inter-se reallocation among existing promoters.

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** Shares of VMS TMT VMST.NS rise 0.7% to 99.65 rupees on trading debut

** Stock opened at 104.90 rupees, 6% higher than the issue price of 99 rupees

** Thermo mechanically treated bars maker's 1.49 bln rupees ($16.8 mln) IPO, which comprised entirely of issue of fresh shares, was subscribed 102.3x

** VMST valued at 4.95 bln rupees, as of 14:42 IST

** Trading vols at 5.3 mln shares so far

** Funds raised from the offering to be used for repayment of borrowings and general corporate purposes

($1 = 88.7575 Indian rupees)

(Reporting by Vijay Malkar)

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