Umiya Tubes Postal Ballot: Name Change to Kronmet Industries and Capital Hike
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On the reaction day the stock moved 1.5 pts more than Nifty Microcap 250 and 1.3 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Umiya Tubes Limited has called a Postal Ballot with two items for shareholder approval. First, a special resolution to change the company name to KRONMET INDUSTRIES LIMITED or SOMET INDUSTRIES LIMITED, reflecting its complete shift from tubes to tungsten-based products (100 percent of revenue now comes from tungsten). Second, an ordinary resolution to raise authorized share capital from Rs. 30 crore to Rs. 80 crore (8 crore equity shares of Rs. 10 each) for future business expansion. E-voting runs from October 9 to November 7, 2026, with results expected by November 9, 2026.
Signals a full pivot from tubes to tungsten business. Higher authorized capital leaves room for future fundraising, dilution, or share issuance.