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Rama Steel Tubes Ltd. ( (IN:RAMASTEEL) ) just unveiled an announcement.
Rama Steel Tubes Ltd. has announced the approval of a share purchase agreement to acquire a 100% stake in Automech Group Holding Limited, a company registered in the Abu Dhabi Global Market. This acquisition, valued at approximately AED 296 million, involves Rama Steel Tubes and its wholly-owned subsidiary, RST International Trading FZE, with the latter acquiring a 78.38% stake and Rama Steel Tubes acquiring a 21.62% stake. The transaction is expected to enhance Rama Steel Tubes’ market presence and operational capabilities, subject to necessary regulatory approvals.
More about Rama Steel Tubes Ltd.
Rama Steel Tubes Ltd. is a manufacturer and exporter specializing in ERW steel tubes, both black and galvanized. The company is ISO 9001:2015 certified and operates from its registered office in New Delhi, India.
Average Trading Volume: 888,704
Technical Sentiment Signal: Hold
Current Market Cap: 16.44B INR
See more data about RAMASTEEL stock on TipRanks’ Stock Analysis page.