Shree Marutinandan Tubes Ltd — Updates, 04-06-2025: Company Update

Shree Marutinandan Tubes Limited has announced a board meeting to approve key corporate actions aimed at strengthening its financial position. It has approved alteration of its Articles of Association to enable future capital raising aligned with the Companies Act. The company plans to raise up to Rs. 49 Cr by issuing 47.57 lakh fully convertible warrants at Rs. 103 each, to both promoters and public investors on a preferential basis, subject to shareholder approval. Upfront payment of 25% of the issue size will be collected upon allotment. Shareholders' approval will be sought via postal ballot, with the process managed by an appointed practicing company secretary.