Remi Edelstahl Tubulars Limited , a player in the stainless steel industry, has announced a significant business development. The company has secured orders worth Rs. 62.66 crores for its stainless steel seamless tubes. This order comes from a reputed equipment fabricator catering to the thermal power sector.

Order Details

Key Points

• The orders were received in the normal course of business.
• These transactions are not related party transactions.
• The deals were conducted on an arm's length basis, ensuring fair market value.

This substantial order underscores the demand for Remi Edelstahl Tubulars' products in the thermal power sector. It also highlights the company's capability to cater to the needs of reputed equipment fabricators, potentially strengthening its position in the market.

The thermal power sector's continued investment in equipment suggests ongoing developments in this industry. Remi Edelstahl Tubulars' involvement in supplying critical components like stainless steel seamless tubes indicates its role in supporting infrastructure development in the power generation sector.

While this order is a positive development for Remi Edelstahl Tubulars, investors and market watchers should consider it in the broader context of the company's overall financial performance and market conditions in the stainless steel and thermal power sectors.

Remi Edelstahl Tubulars Limited has undergone a significant change in its promoter group structure following a scheme of amalgamation approved by the National Company Law Tribunal (NCLT) Mumbai. The amalgamation has resulted in Hanuman Freight and Carriers Private Limited acquiring a stake in Remi Edelstahl Tubulars and becoming a member of its promoter group.

Key Details of the Amalgamation

• Acquired Stake: Hanuman Freight and Carriers Private Limited has acquired a 1.79% stake in Remi Edelstahl Tubulars Limited.
• Previous Holder: The shares were previously held by Hanuman Forging and Engineering Private Limited, which was the transferor company in this amalgamation.
• Promoter Holding: Following the amalgamation, promoters of Remi Edelstahl Tubulars now hold 99.25% shares in Hanuman Freight and Carriers Private Limited.

Impact on Shareholding

The amalgamation has led to changes in the shareholding structure of Remi Edelstahl Tubulars Limited:

Company Capital Structure

Remi Edelstahl Tubulars Limited's capital structure is as follows:

This corporate action strengthens the promoter group's position in Remi Edelstahl Tubulars Limited, with their total holding now standing at 70.90% of the company's shares. The inclusion of Hanuman Freight and Carriers Private Limited in the promoter group may potentially influence the company's future strategic decisions.