Annual Report for the financial year 2024-25 ( Including Notice of 54th Annual General Meeting of the Company)
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Remi Edelstahl Tubulars has submitted its Annual Report for FY 2024-25 along with the notice for its 54th AGM, scheduled for Thursday, August 28, 2025 at 11:30 AM via video conferencing. Ordinary business includes adoption of audited financial statements and re-appointment of director Shri Rajendra C. Saraf, who retires by rotation. Special business includes ratification of cost auditors' remuneration (Rs. 90,000), appointment of a new Secretarial Auditor for 5 years, and two key preferential issue resolutions. The first is issuance of 6,69,226 convertible warrants at Rs. 129.33 each (totalling ~Rs. 8.65 crore) to South Korea-based WSG Co. Ltd. The second is issuance of 11,95,893 equity shares at Rs. 129.33 each (totalling ~Rs. 15.47 crore) to one Promoter Group entity and three non-promoter allottees.
If shareholders approve, the preferential issues will result in equity dilution upon conversion/exercise, while bringing in roughly Rs. 24 crore of fresh capital including a foreign strategic investor (WSG Co.). The Promoter Group participation signals promoter confidence, though retail investors should track how the raised funds are utilised.