New Delhi headquartered India’s leading steel pipe maker Rama Steel Tubes has acquired 51% stake in Ashoka Infrasteel & 50% stake in Hagar Mega Mart by issuance of fresh shares of the company. Total consideration for expansion initiatives is up to approximately INR 330 million. The Fair Value of Ashoka Infrasteel has been estimated at INR 550 million. Rama Steel Tubes will issue such number of equity shares to Hager Mega Mart up to maximum amount of INR 55 million at the price as may be determined in accordance in accordance with SEBI regulations. The fair value of share of Hagar Mega Mart has been estimated as INR 40 per share.Ashoka Infrasteel is an established distributor of specialized value added products, ERW pipes, black Steel tubes, galvanized tubes & seamless carbon tubes, having presence in this segment for over 30 years. It caters to reputed clientele like OEMs Infrastructure companies, HVAC, Fire Fighting & MEP contacting companies, agriculture solution providers, Fabricators and many industries and Industrial contractors. The acquisition of Ashoka Infrasteel is expected to give Rama Steel Tubes an access to its vast distribution network spread across the nation and will provide market intelligence in a timely manner which will aid product innovation and development. The acquisition will help Rama Steel Tubes leverage the Distribution network enabling deeper market penetration in the existing markets while opening opportunities in the newer markets.Hager Mega Mart has an impressive product line of bathroom fittings and Accessories and holds an extensive portfolio of SKUs under their brand umbrella. The acquisition of Hager Mega Mart enables Rama Steel Tubes to enter into a new segment of sanitary ware, bathroom accessories, faucets, vanities, sinks & drains in different finishes and varieties. This foray into a newer segment of bathroom accessories will make Rama Steel Tubes a unique business partner for various commercial and residential construction projects and act as a one stop preferred supplier for all Building materials supplies. Hager Mega Mart will be able to drive growth with this event by leveraging upon Rama Steel Tubes 's wide outreach and already established pan India network.Rama Steel Tubes is one of the leading manufacturers in the steel tube industry, having a total installed capacity of 264,000 tonnes per annum in state of the art manufacturing units at Sahibabad in UP, Khopoli in Maharashtra & Anantpur in Andhra Pradesh. Rama Steel Tubes products range includes ERW black pipes from 15mm to 200mm diameter pipes & pipes from 15mm to 150mm in light, medium and heavy sizes.
New Delhi headquartered India’s leading steel pipe maker Rama Steel Tubes has acquired 51% stake in Ashoka Infrasteel & 50% stake in Hagar Mega Mart by issuance of fresh shares of the company. Total consideration for expansion initiatives is up to approximately INR 330 million. The Fair Value of Ashoka Infrasteel has been estimated at INR 550 million. Rama Steel Tubes will issue such number of equity shares to Hager Mega Mart up to maximum amount of INR 55 million at the price as may be determined in accordance in accordance with SEBI regulations. The fair value of share of Hagar Mega Mart has been estimated as INR 40 per share.Ashoka Infrasteel is an established distributor of specialized value added products, ERW pipes, black Steel tubes, galvanized tubes & seamless carbon tubes, having presence in this segment for over 30 years. It caters to reputed clientele like OEMs Infrastructure companies, HVAC, Fire Fighting & MEP contacting companies, agriculture solution providers, Fabricators and many industries and Industrial contractors. The acquisition of Ashoka Infrasteel is expected to give Rama Steel Tubes an access to its vast distribution network spread across the nation and will provide market intelligence in a timely manner which will aid product innovation and development. The acquisition will help Rama Steel Tubes leverage the Distribution network enabling deeper market penetration in the existing markets while opening opportunities in the newer markets.Hager Mega Mart has an impressive product line of bathroom fittings and Accessories and holds an extensive portfolio of SKUs under their brand umbrella. The acquisition of Hager Mega Mart enables Rama Steel Tubes to enter into a new segment of sanitary ware, bathroom accessories, faucets, vanities, sinks & drains in different finishes and varieties. This foray into a newer segment of bathroom accessories will make Rama Steel Tubes a unique business partner for various commercial and residential construction projects and act as a one stop preferred supplier for all Building materials supplies. Hager Mega Mart will be able to drive growth with this event by leveraging upon Rama Steel Tubes 's wide outreach and already established pan India network.Rama Steel Tubes is one of the leading manufacturers in the steel tube industry, having a total installed capacity of 264,000 tonnes per annum in state of the art manufacturing units at Sahibabad in UP, Khopoli in Maharashtra & Anantpur in Andhra Pradesh. Rama Steel Tubes products range includes ERW black pipes from 15mm to 200mm diameter pipes & pipes from 15mm to 150mm in light, medium and heavy sizes.
