31-Oct-2026 13:05:29
SHYAMMETLAcquisition and merger
SHYAMMETL : APPROVES RS 360 CR CAPEX FOR PHUTAMURA COAL BLOCK
• Board approved 51% controlling equity stake acquisition in Alom Solar Private Limited, subject to definitive agreements and approvals • Alom Solar holds mining rights for Phutamura Coal Block across ~7.324 sq km with estimated reserves of ~170 million tonnes • Acquisition cost ₹0.51 L in cash for 5,100 equity shares; Alom Solar will become a subsidiary • Initial capex budget approximately ₹360 Cr; company's 51% contribution ~₹183.60 Cr, balance by JV partner • Completion expected on or before 30 November 2026; strategic backward integration to secure long-term coal supply for captive power and steel operations
Shyam Metalics and Energy Limited
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