Ratnamani Metals subscribes to 75 percent stake in Saudi Arabia JV firm

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RATNAMANI · price

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Price reactionminutes from the announcement price · days from the prior close

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₹2760.90

prior close

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On the reaction day the stock moved in line with Nifty Microcap 250 and in line with its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Ratnamani Metals and Tubes has subscribed to 75 percent equity shares in its Saudi JV, Ratnamani Middle East Company LLC, based in Dammam, KSA. The company paid SAR 15 lakh (about Rs 3.3 crore) for 75 shares of SAR 20,000 each, taking its 75 percent stake. SESCO group holds the remaining 25 percent. The JV will manufacture seamless tubes locally for KSA and GCC markets, replacing imports. This is a follow-up to the April 2025 JV agreement and August 2025 incorporation.

Likely market impact

Positive step to expand manufacturing footprint into Middle East; long-term revenue potential from KSA and GCC markets.