Ratnamani Metals & Tubes has entered into the Definitive agreements for the Subscription of Equity Shares and acquisition of the Equity Shares in Ravi Technoforge (RTL) from its existing shareholders in three tranches over the period based on the performance metrics and other terms & conditions. The Company shall hold 53.00% stake on fully diluted basis in RTL on the first closing. The 1st Tranche of 53.00% stake acquisition shall consist of 26% of the issued, subscribed and paid-up share capital through share subscription in RTL under the preferential allotment and 27% of the issued, subscribed and paid-up share capital in RTL (post dilution) through purchase from the existing shareholders.
RTL is one of the leading manufacturers of high precision forged and turned bearing rings, gear blanks and other similar bearing components having ultimate end use across widespread industrial and automotive applications. RTL caters mostly to all the large bearing manufacturers not only in India but across the globe.
The Company, in order to add a new growth driver both domestically and globally, have decided to acquire the majority stake in RTL that is the part of the ecosystem of one of the most matured and a stable growth industry over the decades. The business prospects of the Target resembles the economic growth cycle mainly manufacturing by significantly contributing the revenue from segments of industrial and mobility applications which will help the Company to enlarge its canvass of products and sector.
Ratnamani Metals & Tubes is a multi-location, multi-product company, in India, manufacturing Tubes & Pipes in Stainless Steel/Exotic material and also Carbon Steel Pipes, in wide size ranges, for wide spectrum of applications.
| Company Name | CMP |
|---|---|
| Tata Steel | 127.40 |
| JSW Steel | 901.15 |
| SAIL | 106.00 |
| Jindal Stainless | 625.05 |
| Jindal Saw | 256.25 |
| View more.. | |
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