Board Meeting25 Jul 2026, 05:20 pm
Rajasthan Tube Manufacturing Board Approves MOA/AOA Changes, Fund Raise
AI Summary
Rajasthan Tube Manufacturing Company Ltd's board has approved a new set of Memorandum and Articles of Association (MOA/AOA), subject to shareholder approval. The board also greenlit a fund-raising plan through the issuance of up to 6,21,00,000 Convertible Equity Share Warrants to public investors on a preferential basis at ₹15 per warrant. Additionally, the board recommended the regularization of Mr. Mahendra Soni and Mr. Ranjeet Kumar Pandey as Independent Directors. An Extraordinary General Meeting (EGM) is scheduled for August 20, 2026, to seek shareholder consent for these proposals.
Key Highlights
- Board approves new MOA and AOA, pending shareholder nod.
- Plans to raise funds via preferential issue of 6.21 Cr warrants.
- Warrants to be issued at ₹15 each, convertible to equity shares.
- Two additional directors recommended for regularization as Independent Directors.
- EGM scheduled for August 20, 2026, to approve key resolutions.
Price Impact
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