Investment23 Jun 2026, 06:30 pm
Ratnamani Metals Subscribes SAR 15 Lakh Equity in Saudi JV
AI Summary
Ratnamani Metals & Tubes Ltd has subscribed to 75 equity shares of its subsidiary, Ratnamani Middle East Company LLC, in Saudi Arabia. The subscription amounts to SAR 15,00,000 (Saudi Riyal 1.5 million), representing 75% of the paid-up capital, as per the Joint Venture cum Shareholders Agreement. This move follows the incorporation of the JV company in August 2025, aimed at providing critical tubing solutions and local manufacturing of seamless products in the KSA/GCC region. The JV is a collaboration with Saudi Electric Supply Company Limited.
Key Highlights
- Ratnamani Metals invested SAR 15 Lakh in its Saudi subsidiary.
- The investment secures 75% equity in Ratnamani Middle East Company LLC.
- The JV aims to serve KSA/GCC markets with tubing solutions.
- Local manufacturing of seamless products is a key objective.
- This is a follow-up to the JV and subsidiary incorporation announcements.
Price Impact
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