Board Meeting24 Jul 2026, 10:01 pm
Rajasthan Tube Board approves ₹93.15 Cr fundraise via 6.21 Cr warrants
AI Summary
Rajasthan Tube Manufacturing Company Ltd's Board of Directors, in a meeting on July 24, 2026, approved raising funds up to ₹93.15 crore through the preferential issue of 6.21 crore Convertible Equity Share Warrants at ₹15 each. This is subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM) on August 20, 2026. The Board also recommended regularising Mr. Mahendra Soni and Mr. Ranjeet Kumar Pandey as Independent Directors and approved the adoption of amended Memorandum and new Articles of Association, all pending shareholder consent. A scrutinizer has been appointed for the EGM.
Key Highlights
- Board approved fundraise via 6.21 Cr preferential warrants.
- Warrants priced at ₹15 each, totaling ₹93.15 crore.
- Two additional directors to be regularised as Independent Directors.
- Amended MOA and new AOA also approved, pending shareholder vote.
- Extraordinary General Meeting (EGM) set for August 20, 2026.
Price Impact
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