Rama Steel Tubes has received approval to sell 50% stake (12,50,000 equity shares of face value of Rs 10 each) in Hager Mega Mart (HMMPL). After completion of above disinvestment, HMMPL shall ceased to be Associate of the Company. The consideration will receive from such sale is Rs 5 crore for sale of around 31.20% stake and balance 18.80% stake shall be diluted in due course of time.
The Board of Directors at its meeting held on March 06, 2024, has inter-alia, considered and approved the same.
Rama Steel Tubes is a leading player engaged in the manufacturing and trading of Steel Tubes & Pipes and Rigid PVC (Poly Vinyl Chloride) & G.I. (Galvanised Iron) Pipes in India as well as in the world.
