Updates

Ratnamani Metals & Tubes Limited has completed the subscription of its 75% equity shareholding in Ratnamani Middle East Company, LLC, a joint venture in Dammam, Kingdom of Saudi Arabia. The company invested SAR 1,500,000 for 75 equity shares, formalizing its majority stake. This JV, established with Saudi Electric Supply Company Limited, aims to provide critical tubing solutions and locally manufacture seamless products for the KSA and GCC markets. This move is a follow-up to previous intimations regarding the JV agreement and incorporation.