Rama Steel Tubes: Board approves ₹346.4 Cr fundraise, Automech SPA amend

Rama Steel Tubes Limited's Board of Directors, in a meeting held on September 22, 2026, approved several key matters. The company increased its Authorised Share Capital from ₹200 Crores to ₹250 Crores, necessitating an alteration to the Capital Clause of its Memorandum of Association. Additionally, the Board approved amendments to the Share Purchase Agreement dated December 11, 2025, concerning the joint acquisition of 100% stake in Automech Group Holding Limited. The Board also approved a preferential issue of up to 28 Crore equity shares for ₹140 Crores and another preferential issue of up to 33.28 Crore equity shares for ₹166.4 Crores via share swap to acquire 21.62% of Automech Holding Group. Furthermore, it approved the issuance of up to 8 Crore convertible warrants for ₹40 Crores to promoters on a preferential basis. An Extraordinary General Meeting will be convened to approve these matters.