Rama Steel Tubes to hold EGM on Feb 14, 2026 for preferential issue, loans, and director appointment
Rama Steel Tubes Limited will hold an EGM on February 14, 2026, to approve investments/loans exceeding ₹1000 Crore and a preferential issue of up to 15,34,50,146 shares at ₹10.25 each to Mr. Jagjit Gouri. The appointment of Mr. Rakesh Chaturvedi as Executive Director from January 20, 2026, will also be considered.
The EGM agenda includes significant corporate actions such as a large preferential allotment and exceeding investment/loan limits, which could have a material impact on the company's capital structure and future operations.
The announcement concerns routine corporate actions like convening an EGM for approvals related to investments, preferential allotment, and director appointments. While these are material, they do not inherently indicate a positive or negative shift in the company's performance or outlook without further context.
Rama Steel Tubes Limited has announced the convening of its second Extraordinary General Meeting (EGM) for the financial year 2025-26 on Saturday, February 14, 2026, at 12:30 PM IST, to be held through video conferencing.
The EGM will address several key business items. Shareholders will consider and approve the making of investments, giving loans, guarantees, and security in excess of the limits specified under Section 186 of the Companies Act, 2013, with the aggregate limit potentially exceeding sixty percent of the paid-up capital or ₹1000 Crore, whichever is higher.
Additionally, the meeting will seek approval for the issuance of equity shares on a preferential basis to Mr. Jagjit Gouri. The company plans to issue up to 15,34,50,146 equity shares of face value ₹1 each at a price of ₹10.25 per share, including a premium of ₹9.25 per share. The relevant date for this preferential issue is January 14, 2026.
Shareholders will also vote on a variation in the objects for the utilization of proceeds from a previous preferential issue, as approved on June 18, 2025. Furthermore, the appointment of Mr. Rakesh Chaturvedi (DIN: 01107166) as an Executive Director for a term of five years, effective January 20, 2026, will be considered.
The notice of the EGM, along with an explanatory statement, is being sent to shareholders electronically. The company has also provided facilities for remote e-voting, which will commence on Wednesday, February 11, 2026, at 09:00 AM IST and conclude on Friday, February 13, 2026, at 05:00 PM IST. M/s. Arun Kumar Gupta & Associates, Practicing Company Secretaries, has been appointed as the scrutinizer for the e-voting process.
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Rama Steel Tubes Limited filed this with the NSE as a statutory disclosure, categorised under egm. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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