Mumbai: VR Wood Art Limited is making a strategic move by raising ₹40.63 crore through a preferential issue and acquiring two high-revenue steel trading companies. Proceeds from the issue will primarily fund working capital, growth initiatives, and the planned acquisitions, the company said in a press release.

VR Wood Art is set to acquire 100% stakes in Nidimo Mont and Parent Mont International, making them wholly owned subsidiaries. Both entities operate in the steel trading sector, supplying: Stainless steel tubes, Bars, Plates, Coils and Corrugated steel boards

According to an official statement, the two companies collectively recorded a combined turnover of ₹2,496 crore, underscoring their strong market presence and revenue-generating capacity.

The acquisition is expected to diversify VR Wood Art’s revenue streams, unlock operational synergies, and significantly enhance its consolidated financial performance.