Rama Steel Tubes revises use of issue proceeds

Rama Steel Tubes Limited announced a revision to its previously disclosed plans regarding the utilization of proceeds from a recent issue, according to a filing on July 7, 2025. The company intends to allocate INR 177.30 Cr for acquiring a company in the renewable energy, engineering, and infrastructure sectors. This replaces the earlier stated purpose in the explanatory statement of the Notice. The company specified that the funds will be used as cash consideration to acquire the target company and that this process will be completed within one year from the date of receipt of the money. All other details from the initial announcement remain unchanged.