Rama Steel Tubes Limited — Board Meeting, 11-12-2024: Outcome of Board Meeting

The Board has approved the acquisition of a 24.80% stake in M/s Bigwin Buildsys Coated Private Limited for an aggregate consideration of ₹5.65 Cr. This acquisition will proceed through the issuance of fresh equity shares of Rama Steel Tubes Limited at a price of ₹14 per share, subject to regulatory and shareholder approvals. The target entity specializes in green energy solutions, particularly in solar structures, and will become an associate of Rama Steel Tubes. The total valuation of Bigwin Buildsys Coated Private Limited is estimated at ₹22.76 Cr, with a turnover of ₹23.25 Cr for the financial year ending March 2024.