Gallantt Ispat Limited makes a corporate announcement

The available evidence confirms the NCLT approval order, but it does not report the exact share-swap ratios or the post-approval record date for issuing new equity shares.

• Share-swap ratios: Not reported in the cited Scheme extracts or news material. The exact number of Gallantt Ispat shares to be issued for each share of the amalgamating entity cannot be stated reliably without the Scheme or NCLT order.
• NCLT timeline: The NCLT New Delhi Bench was reported to have pronounced its order approving the Scheme of Amalgamation involving Gallantt Ispat and AAR Commercial Company on 6 December 2025. ^[4]
• Record date for new shares: No confirmed record date for determining shareholders eligible to receive the new equity shares is reported in the cited material.
• Important distinction: Gallantt Ispat’s 23 September 2026 record date relates to eligibility for the FY2025-26 dividend, not to the Scheme-related issuance of new shares. ^[5]

Accordingly, the confirmed position is: NCLT approval order reported on 6 December 2025; share-swap ratios and the subsequent Scheme record date remain unreported in the cited evidence.

The post-merger entity’s finished-steel capacity is approximately 1.0 MMTPA versus about 0.6 MMTPA for Gallantt Ispat’s standalone Gorakhpur platform—an addition of 0.4 MMTPA, or 66.67%. The combined footprint comprises 0.6 MMTPA at Gorakhpur and 0.4 MMTPA at Kutch. ^{[6] [6]} The amalgamation was sanctioned on May 22, 2026, with Gallant Metal surviving and subsequently being renamed Gallantt Ispat Limited. ^[7]

Notes: † Standalone comparison uses the Gorakhpur capacity attributable to the pre-merger GIL platform. ‡ Derived from 1.0 MMTPA versus 0.6 MMTPA.

Captive-power efficiency

The annual report does not provide a quantified post-integration target for captive-power consumption efficiency, such as a new kWh-per-tonne figure or a percentage improvement. The disclosed direction is nevertheless positive:

• Existing captive-power capacity is 129 MW: 78 MW at Gorakhpur and 51 MW at Kutch. ^{[6] [6]}
• The company is developing 78 MW of captive solar capacity—60 MW for Uttar Pradesh and 18 MW for Gujarat—which is expected to reduce conventional-power dependence and generate estimated annual savings of Rs 30-40 Crores once operational. ^[8]
• Separately, FY26 equipment upgrades generated reported annual electricity savings of 6,616,421 kWh. ^[9]

Implication: integration should improve energy economics through greater captive coverage, solar substitution and better utilisation of the combined power system, but the disclosure supports only a directional efficiency improvement, not a defensible percentage change in captive-power consumption efficiency.