Scan Steels Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 12/04/2025 ,inter alia, to consider and approve i. to approve the proposal of ....
SCANSTL · price
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Scan Steels Ltd has informed BSE that its Board of Directors will meet on Saturday, April 12, 2025, at 10:30 AM in Bhubaneswar, Odisha. The key agenda item is to consider and approve a proposal for investment in 51% equity shares by way of purchase or acquisition of securities from M/s. Kalinga Universal Private Limited. The Board will also authorise Executive Directors to discuss, negotiate, and finalise the deal. Kalinga Universal is a private limited company, and the target/entity of this 51% acquisition is not explicitly named in the filing. Any other business with the Chair's permission may also be taken up.
If approved, this would be a sizeable acquisition for Scan Steels, giving it a majority (51%) stake in another entity and potentially reshaping its business mix. Shareholders should watch for the detailed announcement after April 12 for deal value, target identity, and whether any open-offer or regulatory obligations are triggered.