Rama Steel Tubes Ltd. announced the formation of an associate company named ORAM Green Energy Limited, with an authorized capital of INR 5 crore (INR 5,00,00,000).
The new entity will focus on business activities in the Green Energy and Renewable Energy sectors. Rama Steel Tubes Ltd. will hold a 40% stake in the newly formed associate company through a cash subscription to its share capital.
The associate company, once incorporated, will be a related party of Rama Steel Tubes Ltd. The proposed ORAM Green Energy Limited is set to explore opportunities in the green and renewable energy markets, expanding the footprint of Rama Steel Tubes Ltd. into this emerging sector.
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Rama Steel Tubes