Remi Edelstahl Board approves Q1 results, ₹18.55 Cr preferential issue
Remi Edelstahl Tubulars Ltd's Board of Directors met on July 31, 2026, approving the Unaudited Financial Results for the quarter ended June 30, 2026. The Board also reappointed Kejriwal & Associates as Cost Auditors and SIGMAC & Co. as Internal Auditors for FY 2026-27. Key approvals included a preferential allotment of 1,97,377 convertible warrants to WSG Co., Ltd (Non-Promoter) at ₹180 each. Additionally, 6,66,666 equity shares were approved for allotment to Promoter Group entities and 1,66,665 equity shares to non-promoter individuals/LLPs, all at ₹180 per share, totaling approximately ₹18.55 crore. Furthermore, Shri Rajendra C. Saraf was designated as Non-Executive Chairman, effective August 1, 2026, and Shri Ritvik Saraf was appointed as Promoter Non-Executive, Non-Independent Director from August 1, 2026, replacing Shri Vishwambhar C. Saraf.
Key Highlights
- Board approved Unaudited Financial Results for Q1 FY27.
- Approved preferential allotment of warrants and equity shares worth ₹18.55 Cr.
- Warrants and equity shares issued at ₹180 each to various groups.
- Reappointed Cost and Internal Auditors for FY27.
- Rajendra C. Saraf designated Chairman; Ritvik Saraf appointed Director.
Price Impact
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