Rama Steel Tubes to hold EGM on Oct 21, 2026, for capital clause alteration & preferential issue
Rama Steel Tubes Limited will hold an EGM on October 21, 2026, to alter its capital clause to ₹250 Crores and issue up to 53.28 Crore equity shares at ₹5 each on a preferential basis to non-promoters. Remote e-voting will be open from October 18 to October 20, 2026.
The preferential issue of a significant number of shares and the alteration of the capital clause can have a material impact on the company's capital structure and future shareholding pattern.
The announcement is a procedural notification about an upcoming EGM to discuss capital changes and a preferential share issue. It does not contain financial results or immediate business performance indicators, thus it is considered neutral.
Rama Steel Tubes Limited has announced the convening of its first Extraordinary General Meeting (EGM) for the financial year 2026-27. The EGM is scheduled to be held on Wednesday, October 21, 2026, at 12:30 PM IST, through video conferencing and other audio-visual means. The meeting will address two key special businesses: the alteration of the company's capital clause in the Memorandum of Association and the issuance of equity shares on a preferential basis to non-promoter category individuals.
The proposed alteration to the Memorandum of Association aims to increase the Authorized Share Capital to ₹250 Crores, comprising 250 Crores equity shares of ₹1 each. The second item on the agenda is the issuance of up to 53,28,00,000 (53.28 Crore) equity shares at a price of ₹5 per share (including a premium of ₹4 per share). These shares will be allotted to Mr. Mangesh Anilpant Duke (12 Crore shares), Ms. Payal Mangeshrao Duke (8 Crore shares), and Mr. Jagjit Gouri (33.28 Crore shares). The relevant date for this preferential issue, as per SEBI ICDR Regulations, is September 21, 2026.
Shareholders will have the facility to vote by electronic means, including remote e-voting, which will commence on Sunday, October 18, 2026, at 9:00 AM IST, and conclude on Tuesday, October 20, 2026, at 5:00 PM IST. Ms. 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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