Rhetan TMT, Bajaj Tubular sign MoU for potential ₹250-₹300 crore business

Rhetan TMT Ltd, a Gujarat-based company that manufactures TMT and round bars, has signed a memorandum of understanding (MoU) with Bajaj Tubular Products for the proposed purchase of about 20,000 tonnes of TMT (thermo-mechanically treated) bars over 24 months. The company estimates the potential business opportunity at ₹250–300 crore.

The arrangement could provide Rhetan with a recurring customer and lift sales volumes if it translates into firm orders. The proposed quantity is indicative, and the estimated business value does not represent an assured order or revenue.

Supplies under the MoU will be made against individual purchase orders, based on Bajaj Tubular’s business and project requirements. Final volumes will depend on product availability, agreed delivery schedules and Rhetan’s production capacity.

The arrangement could improve Rhetan’s capacity utilisation and widen its customer base.

The MoU comes as Rhetan’s 1 MW captive solar power project at Kadi in Gujarat begins operations, generating renewable electricity for its manufacturing facilities.

The key monitorable will be the conversion of the MoU into firm orders and the pace of execution.