RHI Magnesita India Completes Allotment to Khemka in Joint Venture Agreement

RHI Magnesita India Completes Allotment to Khemka in Joint Venture Agreement​

RHI Magnesita India Limited (RHIM) has finalized key aspects of its joint venture agreement with Khemka Refractories Private Limited, resulting in a restructuring of RHIM Khemka MINPRO Private Limited. The board of directors of the joint venture approved the allotment of shares to Khemka and the appointment of Khemka's nominee directors on the JV Board at a meeting held on August 3, 2026.

Under the completed transaction, the company allotted 9,607 equity shares of face value Re.1/- each to Khemka. These shares were issued at an issue price of Rs. 1,990/ per Equity Share, carrying a premium of Rs. 1,989/ per share. The transaction totaled Rs. 1,91,17,930/.

The consideration for the shares allotted to Khemka was not cash but comprised the transfer of specified land parcels, measuring approximately 12.87 acres, situated in Mouza Santarapur, Tahasil Kamakhyanagar, District Dhenkanal, Odisha.

Following this allotment, RHIM Khemka MINPRO Private Limited now functions as a joint venture and subsidiary company of RHI Magnesita India Limited. As of August 3, 2026, the equity share capital is held by RHIM and Khemka in a 51% to 49% ratio, respectively. The agreement also included the appointment of nominee directors from Khemka onto the joint venture board.

RHIM Stock Price Movement​

On Monday, the shares of RHI MAGNESITA INDIA LIMITED surged, settling at ₹412.25 after gaining 5.80%. The equity movement saw significant activity, with a traded volume totaling 1.27 million shares.