mou disclosure
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Rajasthan Tube Manufacturing Company Ltd has executed an MoU on June 28, 2025 for a complete change in control and management of the listed company. The outgoing promoter group — Mr. Harish Chand Jain, Ms. Rajshree Jain, Mr. Chandra Prakash Khunteta, and Mr. Anuj Jain — will resign from the board and hand over full control to a new management team comprising Ms. Chanchal, Mr. Pankaj Jain, Mr. Prashant Sharma, and Mr. Mahendra Kumar Modi. The outgoing promoter has already transferred his entire shareholding, while the incoming group currently holds 21 lakh shares (4.66% of paid-up capital). All liabilities and obligations arising before June 28, 2025 will rest with the outgoing management; everything after that date will be the new management's responsibility. The company carries an existing cash credit limit of Rs. 1.70 crore and a working capital term loan of ~Rs. 0.77 crore from SBI, plus a pending GST appeal to be pursued by the outgoing promoter.
This represents a full change of control of the listed entity, which is a material event that could trigger open offer obligations under SEBI takeover regulations — shareholders should watch for follow-up disclosures from the new management and stock exchanges. The stock may see heightened volatility and trading interest around the board reconstitution and any subsequent announcements on business direction.