Announced Tue, 22 Sept, 2026 · 17:32 IST
Board approves SPA amendment, preferential share issue for Automech deal
RAMASTEEL · price
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Price reaction · full curve 14 horizons · vs prior close
+0.2%1-day move
₹4.56
prior close
₹4.60
base price
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AI summary
Board approved amendment to Share Purchase Agreement dated Dec 11, 2025 for acquiring 100% stake in UAE-based Automech Group (AED 296 million). Completion extended to Dec 15, 2026. Also approved authorised capital increase to Rs 250 Cr and preferential issue of 28 Cr equity shares (Rs 140 Cr cash), 33.28 Cr shares (Rs 166.4 Cr via share swap to seller) and 8 Cr warrants (Rs 40 Cr).
Likely market impact
Equity dilution from preferential issue. Acquisition continues with extended timeline, targeting UAE expansion and diversification.