Pursuant to Sec91 and other applicable provision of Companies Act 2013 & Reg 42 of SEBI LODR 2015 share transfer books & register of members will be closed from 10.08.2025 to 16.08.2025 ....
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India Steel Works Limited has called its 38th Annual General Meeting on August 16, 2025 at 2:00 PM via video conferencing. The share transfer books and register of members will be closed from August 10 to August 16, 2025 (both days inclusive), with the e-voting cut-off date set as August 9, 2025. The AGM will consider several material items, including a proposed name change to 'Indiahomes Limited', recalling of prior fund-raising resolutions passed at the December 2024 EGM (which had approved issuance of about 24.7 crore equity shares via preferential allotments), and an increase in the company's borrowing limit to Rs 500 crore with a Rs 300 crore loan-to-equity conversion option. The agenda also includes approving a strategic real estate partnership (investment up to Rs 1 crore in an LLP with Lloyds Realty Developers and Smartquip Properties) to develop the company's land at Village Vihari, Raigad, material related party transactions of up to Rs 50 crore each with eight promoter-linked entities, and ratification of a Rs 40,000 cost auditor remuneration for FY 2020-21.
Shareholders should note the proposed name change signals a strategic pivot toward real estate/housing, while the recall of December 2024 fund-raising resolutions resets earlier dilution plans. The large related-party transaction basket and acquisition of land development rights from the Executive Chairman warrant close attention for governance and potential dilution from the new Rs 500 crore borrowing envelope.