Ratnamani Metals & Tubes Limited — Important, 10-04-2025: Memorandum of Understanding/Agreements

Ratnamani Metals & Tubes Limited has executed a Joint Venture cum Shareholders Agreement with Saudi Electric Supply Company Limited to establish a joint venture company in Saudi Arabia. Ratnamani will hold 75% of the equity, while SESCO will hold 25%, with shares subscribed at a face value of SAR 10 each. The joint venture aims to manufacture critical tubing solutions and provide local alternatives to currently imported products in the region.

The partnership is expected to enhance Ratnamani's presence and brand in the growing Saudi market, potentially increasing revenue streams and competitiveness. This strategic move may positively influence investor sentiment, presenting opportunities for growth in a key market.