Acquisitions30 Jun 2025, 06:11 pm
Rama Steel Tubes Ltd Holds Successful EGM, Announces Renewable Energy Business Acquisition Plan
AI Summary
Rama Steel Tubes Limited held an Extra-Ordinary General Meeting (EGM) on 18 June 2025, which was conducted successfully with all resolutions approved by the members. The company announced plans to acquire a target company involved in Renewable Energy and Engineering and Infra business, with a proposed investment of 177.30 Cr. The acquisition will be through a cash and share swap deal. The company also announced that pending unutilized issue proceeds will be temporarily invested in interest-bearing liquid instruments, deposits with scheduled commercial banks, and money market instruments.
Key Highlights
- Rama Steel Tubes Ltd held a successful EGM on 18 June 2025
- Company to acquire a target company in Renewable Energy and Engineering and Infra business
- Proposed investment of 177.30 Cr for the acquisition
- Acquisition to be through cash and share swap deal
- Pending unutilized issue proceeds to be temporarily invested