Ratnamani Metals & Tubes Limited has informed the Exchange about Acquisition
RATNAMANI · price
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Ratnamani Metals & Tubes has incorporated a new subsidiary called 'Ratnamani Middle East Company, LLC' at Dammam, Kingdom of Saudi Arabia, on August 25, 2025. The new entity is set up as a joint venture with Saudi Electrical Materials Company Limited, a SESCO group company, with Ratnamani holding a 75% stake (75 shares of SAR 20,000 each) and the partner holding the remaining 25%. Total paid-up capital of the new JV is SAR 20 lakh (roughly ₹4.4 crore), of which Ratnamani's investment is SAR 15 lakh. The JV will manufacture seamless steel tubes and pipes locally in Saudi Arabia to serve the KSA and GCC markets, where these products are currently imported. This is a follow-through on the JV agreement disclosed earlier in April 2025.
This is a positive strategic move as it marks Ratnamani's direct entry into the Saudi/GCC market with a local manufacturing footprint, opening up a new revenue stream over the medium term. However, since the subsidiary has not yet started operations, there is no immediate impact on earnings.