1. Shivam Pipes order book - Shivam Pipes (51% subsidiary, acquired July 2025) won ₹49.64 cr in galvanized steel tubular pole orders between January and May 2026 from North Eastern state electricity boards and BSNL, with delivery timelines of 1-4 months. That order inflow already exceeds the subsidiary's entire FY24 turnover of ₹60.20 cr and runs against an existing 36,000 MT annual capacity.
2. KD Infrastructures fabrication facility with UNNATI registration - KD Infrastructures (99.84% subsidiary, acquired March 2026) is setting up a 25,000 MT steel fabrication plant and received registration under the UNNATI-2024 scheme on 11 May 2026, making it eligible for capital investment incentive, manufacturing-linked incentive, and capital interest subvention. The incentives lower the effective project cost while the plant adds fabrication capacity for transmission towers, solar structures, and galvanized structural products.
3. Warrant conversion and capital infusion - On 30 May 2026, the board allotted 4.35 cr equity shares upon conversion of 43.50 lakh warrants, bringing in the balance ₹21.21 cr (75% of the warrant issue price). Post-allotment paid-up equity capital rose to ₹10.15 cr, and the company also has shareholder approval to raise up to ₹100 cr via QIP, giving it a funded balance sheet to pursue the merger and capacity build-out.
4. KD Iron & Steel government incentives - KD Iron & Steel has received approval for incentives from the Government of Assam aggregating approximately ₹600 cr over 15 years. At a ₹325 cr project outlay for the ongoing TMT and solar expansion, incentives of that scale materially reduce the net capital cost and support post-merger returns.
5. Shivam Pipes capacity and brand build-out - Shivam Pipes appointed Bollywood actor Sanjay Dutt and Assamese actress Nishita Goswami as brand ambassadors for its 'XTECH PIPES' brand and is an approved vendor to multiple north eastern state electricity boards, BSNL, and PWD. The brand investment and government-vendor status support utilisation of the 36,000 MT capacity as RDSS-driven rural electrification orders flow.
6. Vehicle scrappage associate - The company committed ₹7.50 cr for a 26% stake in K D Ecosystem, which operates the first registered vehicle scrappage facility in the eastern region at Rangiya, Assam, with capacity to dismantle 42,500 end-of-life vehicles annually and FY24 turnover of ₹20.98 cr. The associate provides a regulated, capacity-constrained niche that feeds scrap into the group's steel-making chain post-merger.