TMT India stake: Yoga Builders holds 15.38% in 2026

Disclosure highlights and why it matters

Yoga Builders Private Limited has disclosed that it holds 7,61,990 equity shares in TMT India Ltd, representing 15.38% of the company’s total share capital as on August 20, 2026. The disclosure was filed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing also stated that Yoga Builders is not part of the promoter group of TMT India Ltd at the time of the disclosure. It reported no encumbrances against the holding. It also reported no convertible securities linked to the position.

What the filing says about ownership and control

The 15.38% holding disclosure is part of a broader sequence of transactions that resulted in a change in control at TMT (India) Limited (BSE: 522171). Separate updates in the provided information indicate that Yoga Builders Private Limited, along with Scaffold Properties Private Limited and MDK Properties and Estates Private Limited (earlier known as MK Profinlease Private Limited), became the new promoters after the open offer process concluded. Following the open offer, the acquirers collectively held 33,79,200 shares, representing 68.21% of the fully diluted equity share capital. Public shareholders were reported to own 15,74,600 shares, or 31.79%, after the transaction.

Open offer outcome: shares accepted and price disclosed

The open offer for TMT (India) Limited was priced at ₹10.00 per share, according to the information provided. The offer closed with 7,62,990 shares accepted in the tendering process. The total consideration for the accepted shares was reported as ₹0.08 crore (₹76.30 lakh) in the supplied text. The completion of the open offer was described as marking a significant change in the company’s ownership and governance, with the acquirers designated as the new promoters.

Timeline of key events mentioned

The information provided references multiple dates across the transaction.

• Share Purchase Agreements (SPA) were executed on 20 April 2026, under which the acquirer group was buying a 52.81% stake from existing promoters, as cited.
• The open offer window was stated to open on 8 July 2026 and close on 21 July 2026.
• The acquisition through the tendering process was stated to be completed on 27 July 2026 in one of the updates.
• The payment of consideration was scheduled for 4 August 2026 under a revised timetable.
• The holding disclosure by Yoga Builders was stated as on August 20, 2026.

Scaffold Properties’ off-market purchase referenced

One of the inputs states that Scaffold Properties Private Limited acquired 14.43% of TMT India Limited’s voting capital through an off-market purchase of 7,14,600 shares from a promoter named “Ms.” (the remaining details were not provided in the text). This transaction is presented as separate from the tendering outcome of the open offer, but it is part of the broader acquisition cluster involving the same acquirer group entities. The provided information also indicates the acquirers acted as a consortium in parts of the transaction.

Independent directors’ committee view on the open offer

The Committee of Independent Directors of TMT (India) Limited was reported to have deemed the open offer by Yoga Builders Private Limited, Scaffold Properties Private Limited, and MK Profinlease Private Limited as “fair and reasonable.” The text does not provide the committee’s detailed rationale or valuation assumptions. Still, the mention is relevant because such committee views are typically part of the governance process during a change-of-control transaction under Indian takeover rules.

Offer size and maximum consideration stated

The open offer was described as a mandatory open offer under the SEBI SAST Regulations, 2011. The stated objective was to acquire up to 12,87,988 equity shares, representing 26.00% of the fully paid-up and voting share capital of TMT (India) Limited. The total offer consideration, if fully accepted, was cited at about ₹1.29 crore (₹1,28,79,880). The manager to the offer was identified as Navigant Corporate Advisors Limited in the supplied information.

Key numbers at a glance

Market impact: what changes for investors and governance

The most direct market-relevant development in the supplied information is the change in promoter and control status at TMT (India) Limited. With the acquirer group reported as holding 68.21% post open offer, control and board-level direction may now sit with the new promoter group, subject to formal governance steps and disclosures. For public shareholders, the open offer provided an exit route at a fixed price of ₹10 per share during the stated window. The separate disclosure of Yoga Builders’ 15.38% holding as on August 20, 2026 adds detail to how ownership is distributed within the wider acquirer group and how subsequent filings are being made under takeover regulations.

Conclusion and what to track next

Yoga Builders Private Limited’s 15.38% holding disclosure in TMT India Ltd, along with the completed open offer and the post-offer 68.21% promoter holding for the acquirer group, points to a completed change-of-control process under SEBI SAST rules. The key next items for investors to track, based on the provided timeline references, are any further post-offer filings, promoter reclassification updates, and governance changes arising from the new promoter group’s control position.