Ratnamani Metals Subscribes to Shares in KSA Subsidiary, Investing SAR 15,00,000
Ratnamani Metals & Tubes Limited has completed the subscription of shares in RATNAMANI MIDDLE EAST COMPANY, LLC, a subsidiary incorporated in Dammam, Kingdom of Saudi Arabia (KSA). The company subscribed to 75 Equity Shares for SAR 20,000 each, representing 75% of the paid up capital.The payment totaling SAR 15,00,000 was made by Ratnamani Metals & Tubes Limited to RATNAMANI MIDDLE EAST COMPANY, LLC in relation to this share subscription on June 23, 2026.
This transaction is part of a Joint Venture cum Shareholders Agreement (JVA/SA) established between Ratnamani Metals & Tubes Limited and Saudi Electric Supply Company Limited (SESCO). The partnership was formalized to supply critical tubing solutions to consumers across the Kingdom of Saudi Arabia (KSA) and Gulf Co-operation Council (GCC) countries, as well as globally.
The establishment of the joint venture aims to meet local manufacturing needs, addressing seamless products that are currently being imported by KSA and GCC consumers. The subsidiary company, RATNAMANI MIDDLE EAST COMPANY, LLC, was incorporated on August 25, 2025. Under the agreed terms, Ratnamani Metals & Tubes Limited holds a 75% equity shareholding in the venture, while SESCO group holds the remaining 25%.
RATNAMANI Stock Price Movement
Today, Ratnamani Metals & Tubes Limited shares edged higher to settle at ₹2740.4 after gaining 1.01%. The stock traded between a day low of ₹2702.7 and a high of ₹2797.9, with 15,961 shares transacting during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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