Remi Edelstahl Tubulars Limited (BSE:513043) announced a private placement of 500,000 non- convertible preference share at a price of INR 100 each for gross proceeds of INR 50,000,000 on January 15, 2018. The preference shares carries coupon rate of 8%. The preference shares issued are non-cumulative. The transaction was approved by board of directors. The transaction is subject to approval from shareholders’ of the company.