Announced Tue, 23 Jun · 18:27 IST
Ratnamani Metals subscribes to 75 percent stake in Saudi Arabia JV firm
Strategic Transactions View source PDF
RATNAMANI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-4.0%1-day move
₹2760.90
prior close
₹2735.10
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.3+0.3+0.2-0.0-4.0-7.5-9.1-10.4-10.2-6.9-5.2-12.9——
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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.