Rama Steel Tubes Ltd

🔄 Rama Steel Tubes Withdraws Share Swap Plan, Eyes Future Re-initiation

• Withdrawal of proposed preferential issue of up to 15,34,50,146 equity shares

• Decision due to procedural constraints in cross-border share swap transaction with Automech Group Holding Limited

• Transaction involved acquiring 21.62% stake in Automech Group through share swap

• Required regulatory approvals in both India and UAE

• Key milestones achieved: Board approval (Jan 20, 2026), shareholder approval (Feb 14, 2026), in-principle approval from BSE and NSE (Apr 10, 2026)

• Company plans to re-initiate process after completing compliance formalities and approvals