Ashoka Metcast increases stake in Rhetan TMT to 89.3%

Ashoka Metcast Limited, an Indian manufacturer of structural steel products, has acquired an additional stake of 3.03% in Rhetan TMT Limited (formerly Rhetan Rolling Mills), a steel construction company based in Ahmedabad, for a sum of INR 2.8 crores.

The stake was acquired by converting a loan given by Ashoka Metcast to Rhetan TMT into 40,0,000 equity shares.

Ashoka Metcast has increased its stake to 89.39% in Rhetan TMT, which is engaged in manufacturing steel products such as TMT bars and MS bars.