Ratnamani subscribes 75 percent equity in Saudi JV subsidiary
RATNAMANI · price
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Ratnamani Metals and Tubes has subscribed to 75 equity shares of Saudi Arabia Riyal 20,000 each in Ratnamani Middle East Company LLC, Dammam, KSA, representing 75 percent of the paid-up capital (SAR 15 lakh paid). The remaining 25 percent is held by partner SESCO group. This JV, incorporated on August 25, 2025 under an April 2025 agreement, aims to manufacture seamless tubes locally for KSA and GCC markets, reducing dependence on imports. This is a follow-up intimation on the capital infusion into the JV subsidiary.
Execution of overseas expansion plan into KSA and GCC markets; small near-term cash outflow but strategic foothold in a growing market.