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Rama Steel Tubes Ltd.

BSE: 539309 Sector: Metals & Mining
NSE: RAMASTEEL ISIN Code: INE230R01027
BSE 10:07 | 25 Feb 81.00 0.95
(1.19%)
OPEN

76.05

HIGH

81.00

LOW

76.05

NSE 10:09 | 25 Feb 79.00 -2.00
(-2.47%)
OPEN

81.00

HIGH

81.00

LOW

79.00

OPEN 76.05
PREVIOUS CLOSE 80.05
VOLUME 400
52-Week high 87.10
52-Week low 17.85
P/E 38.21
Mkt Cap.(Rs cr) 136
Buy Price 76.25
Buy Qty 50.00
Sell Price 81.00
Sell Qty 20.00
OPEN 76.05
CLOSE 80.05
VOLUME 400
52-Week high 87.10
52-Week low 17.85
P/E 38.21
Mkt Cap.(Rs cr) 136
Buy Price 76.25
Buy Qty 50.00
Sell Price 81.00
Sell Qty 20.00

Rama Steel Tubes Ltd. (RAMASTEEL) - Company History

Rama Steel Tubes Limited was incorporated on February 26 1974 having its registered office in New Delhi. The Company is engaged into the business of manufacturing steel pipes and tubes G.I. Pipes in India and related products. Its manufacturing facilities are located at Sahibabad in Uttar Pradesh Khopoli Raigarh in Maharasthra and Hindupur in Andhra Pradesh-through wholly owned Subsidiary-Lepakshi Tubes Pvt. Ltd. The total installed capacity stood at 96000 MT. The key products in portfolio include Galvanized Tubes ERW Black Steel Pipes & Tubes Scaffolding Pipes & Tubes Structural Steel Products and Hollow Sections. The Company also has a wholly owned foreign subsidiary in Dubai UAE in the name of RST International Trading FZE which is engaged in trading of building & construction material item. As on March 31 2017 the Company had 2 subsidiaries Companies namely RST International Trading FZE and Lepakshi Tubes Private Limited wherby 1 entity is registered in India and 1 is registered outside India. In FY 2015 the Company has issued and allotted 1244500 equity shares of Rs. 10/- each as Bonus shares. Consequently the paid-up equity share capital increased from Rs. 2489000/- to Rs. 14934000/- as on March 31 2015.The Board of Directors recommended sub-division of Equity Shares of Rs. 10/- each into two Equity Shares of Rs. 5/- each and Bonus shares in the ratio of 4:1 which was approved by shareholders in an Extraordinary General Meeting held on March 1 2016. Accordingly the Equity Shares of face value of Rs. 10/- each were sub-divided into two Equity Shares of face value of Rs. 5/- each by way of corporate action to the shareholders who held shares on the Record Date March 15 2016. Further bonus shares in the ratio of 4:1 were allotted to members who held the equity shares on Record Date i.e. March 15 2016 by capitalization of balance in the Free Reserves amounting to Rs. 59736000/-. Consequently the issued subscribed and paid-up equity share capital increased from Rs. 14934000 divided into 1493400 Equity shares of Rs. 10/- each to Rs. 74670000 divided into 14934000 Equity shares of Rs. 5/-each.In FY 2016-2017 the Company has issued 1100000 equity shares of Rs. 5/- each on preferential basis to the persons belonging to non-promoter category. Consequently the issued subscribed and paid-up equity share share capital increased from Rs. 74670000 divided into 14934000 Equity shares of Rs. 5/-each to Rs. 80170000 divided into 16034000 Equity shares of Rs 5/- each.During the year 2016-17 the Company acquired 100% stake in its wholly owned subsidiary Lepakshi Tubes Private Limited.The Company has issued and allotted on preferential basis 1500000 fully convertible warrants at a price of Rs. 122/- each to persons belonging to promoter category on March 29 2017 against which the 25% upfront money was received from them to the Company on or before 29 March 2017. Out of which 600000 fully convertible warrants and 160000 fully convertible warrants were converted into equivalent number of equity shares on 12 May 2017 and 27 May 2017 respectively on receipt of balance 75% money from the allottee(s) in respect of said warrants. As per Regulation 75 of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009 the convertible securities of the issuer shall be converted within eighteen months from the date of their allotment. By virtue of this the remaining 740000 fully convertible warrants must be converted on or before 28 September 2018. The allottee has not made payment of balance 75% of money in respect of 740000 fully convertible warrants on or before 28 September 2018 therefore by virtue of Regulation 75 of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009; 740000 fully convertible warrants were cancelled and 25% upfront money of 740000 warrants forfeited.The issued subscribed and paid-up equity share capital of the Company is Rs. 83970000 divided into 16794000 Equity shares of Rs. 5/- each in FY 2018-19.

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