Newmalayalam Steel Limited — JV/Acquisition, 08-04-2026: Acquisition

NEWMALAYALAM STEEL (NMSTEEL) has approved a capital infusion of up to Rs. 1.9 Cr into its subsidiary, Prime NMS Private Limited. The funds will come from subscribing to Prime NMS's Rights Issue, covering both its full entitlement and any unsubscribed shares. Prime NMS, established in 2025, is active in steel manufacturing, processing, and engineering – aligning perfectly with NMSTEEL's core business. This strategic investment aims to bolster the subsidiary's operations and market position in metals and construction-related products. The final equity stake will be known post-allotment.