Outcome of the Board Meeting held on 17.07.2025. Approving Proposal to change Name of the Company, Notice Convening 38th AGM, Authorisation to enter definitive Development Agreement, etc
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The Board of Directors of India Steel Works Limited met on July 17, 2025 and approved several key items. The company proposed changing its name from India Steel Works Limited to India Homes Limited, subject to shareholder and other statutory approvals. The 38th Annual General Meeting was scheduled for August 16, 2025 to be held via video conferencing. The Board appointed M/s. Purva Sharegistry (India) Pvt. Ltd. as the new Registrar and Transfer Agent, replacing MUFG Intime India Pvt. Ltd. Three directors were authorized to negotiate, sign, and execute a definitive development agreement with LLOYDS IHL LLP for developing the company's land parcel located at Khopoli, marking a significant shift toward real estate.
This filing signals a strategic pivot from steel manufacturing to real estate/housing development, as reflected in the proposed name change to India Homes Limited. The development partnership with LLOYDS IHL LLP could unlock value from the Khopoli land asset, but the change of business direction and execution risks should be watched closely. Shareholders will vote on the name change at the upcoming AGM, which is a key event to track.