Rajasthan Tube Manufacturing Company Limited has scheduled its Extraordinary General Meeting (EGM) for Thursday, August 20, 2026, at 3:00 PM IST via video conferencing, seeking shareholder approval for a ₹93.15 crore preferential allotment of convertible equity share warrants to 53 public investors. The company subsequently filed copies of newspaper advertisements with BSE on July 29, 2026, confirming that the EGM notice was published in Financial Express (English edition) and Nafanuksan (Hindi edition), in compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Whole Time Director Pankaj Jain (DIN: 11098222).

The capital raise, priced at ₹15 per warrant with a ₹14 premium, aims to fund working capital requirements of ₹74.52 crore and general corporate purposes of ₹18.63 crore within 24 months. Remote e-voting will commence on Monday, August 17, 2026, from 9:00 AM IST and conclude on Wednesday, August 19, 2026, at 5:00 PM IST, with the cut-off date for eligibility fixed as Thursday, August 13, 2026.

The Board also seeks ratification for the regularization of Mahendra Soni and Ranjeet Kumar Pandey as Independent Directors for five-year terms effective from May 30, 2026, alongside amendments to the Memorandum of Association (MOA) and Articles of Association (AOA) to align with the Companies Act, 2013. Ms. Prachi Bansal, Practising Company Secretary (Membership No. A43355), has been appointed as the Scrutinizer for the meeting pursuant to Section 108 of the Companies Act, 2013. The notice confirms compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Warrant Issue Structure

The issuance follows SEBI ICDR Regulations, 2018, with Tuesday, July 21, 2026, designated as the relevant date for pricing. Investors must pay 25% of the issue price (₹23.29 crore total) upon allotment, with the remaining 75% (₹69.86 crore) payable upon conversion within an 18-month exercise period. Failure to exercise warrants results in forfeiture of the subscription amount. The warrants carry no voting rights until converted into equity shares, which will rank pari-passu with existing shares. As the raise is under ₹100 crore, no monitoring agency has been appointed for use of proceeds.

The following table summarises the key parameters of the warrant issue:

Investor Participation and Allottees

The allotment involves 53 investors, including individuals, Hindu Undivided Families (HUFs), and private limited companies. Significant post-conversion stakes will be held by Chanchal (5.29%), Nidhi Naresh Nandu (4.63%), and Pushpa Bhaju (3.64%). The company has disclosed beneficial ownership details for corporate allottees, including ESPS Finserve Pvt Ltd (Ashok Kumar Singh, Devjeet Chakraborty) and Wordexx Ventures Pvt Ltd (Santosh Dubey, Shweta Ashok Singh). No monitoring agency was appointed as the raise does not exceed ₹100 crore.

Corporate Governance Updates

Mahendra Soni, holding a Bachelor of Commerce degree, and Ranjeet Kumar Pandey, with BCOM and LLB degrees, were appointed as Additional Directors on May 30, 2026. Their regularization requires shareholder approval via special resolution under Section 149 of the Companies Act, 2013. Both directors meet independence criteria under Section 149(6) and Regulation 16(1)(b) of the SEBI Listing Regulations. The Board also proposes adopting new MOA and AOA documents to replace those based on the erstwhile Companies Act, 1956, ensuring conformity with current statutory requirements without altering the company's main objects.

Promoters of Rajasthan Tube Manufacturing Company Limited have disclosed the disposal of equity shares during the financial year ended March 31, 2026, in compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was submitted to the Bombay Stock Exchange Limited and the Department of Corporate Affairs on June 10, 2026. Harish Chand Jain, a promoter, made the filing on behalf of the promoters, promoter group, and Persons Acting in Concert (PAC).

The filing reveals that while the group is providing the required declaration, they have not held control over the company's affairs since June 28, 2025. Harish Chand Jain stated that they have already applied for the removal of their names from the list of the promoter group. However, the declaration is being submitted because their names have not yet been officially removed from the promoter list as of the filing date.

The specific share transactions conducted by the promoters during the period are detailed in the annexure to the filing. The document outlines the number of shares sold by each promoter and their respective holdings as of March 31, 2026.

Shareholding Details

The following table summarizes the share sales and closing holdings for the promoters and promoter group:

The submission was digitally signed by Pankaj Jain, Whole Time Director of Rajasthan Tube Manufacturing Company Limited, on June 10, 2026. The declaration confirms that the shares held by the promoters were not encumbered during the financial year.