VMS TMT Ltd to merge with Aditya Ultra Steel Limited

VMS TMT Limited announced its Board of Directors has approved a Scheme of Amalgamation for the merger of Aditya Ultra Steel Limited (AUSL) into VMS TMT. This strategic move aims to create a larger, more integrated steel manufacturing entity with enhanced capabilities, broader market reach, and improved operational efficiencies. The combined entity will benefit from a unified brand presence under the 'Kamdhenu' umbrella, an expanded distribution network of over 300 dealers, and a significantly increased manufacturing capacity of over 300,000 tonnes per annum. The merger is expected to unlock substantial operational and financial synergies, leading to a stronger financial profile and enhanced market leadership in Gujarat's steel industry. Shareholders of AUSL will receive 75 equity shares of VMS TMT for every 100 shares held, subject to regulatory approvals.