Remi Edelstahl to Raise ₹18.55 Cr via Preferential Allotment
Remi Edelstahl Tubulars Ltd's Board of Directors, in a meeting on July 31, 2026, approved a significant fundraising initiative. The company will raise approximately ₹18.55 crore through preferential allotment of 1,97,377 convertible warrants to WSG Co., Ltd, and 8,33,331 equity shares to promoter and non-promoter entities, all at ₹180 per share/warrant. Additionally, the board reappointed Kejriwal & Associates as Cost Auditors and SIGMAC & Co. as Internal Auditors for FY 2026-27. Management changes include the designation of Shri Rajendra C. Saraf as Non-Executive Chairman and the appointment of Shri Ritvik Saraf as a Promoter Non-Executive Director. The unaudited financial results for the quarter ended June 30, 2026, were also enclosed.
Key Highlights
- Board approved preferential allotment of warrants and equity shares.
- Company to raise approximately ₹18.55 crore from various entities.
- Kejriwal & Associates and SIGMAC & Co. reappointed as auditors.
- Rajendra C. Saraf designated Non-Executive Chairman from August 1, 2026.
- Ritvik Saraf appointed as Promoter Non-Executive Director.
Price Impact
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