Steel City Securities Limited has informed the Exchange regarding Board meeting held on January 07, 2026.
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Steel City Securities Limited held a board meeting on January 7, 2026, which concluded with two key outcomes. First, the board authorized its directors to purchase 4,00,000 equity shares of Meloria Arc Limited at Rs.15 per share, based on a valuation certificate from a registered valuer. These shares are currently held in the name of its wholly owned subsidiary, Steel City Commodities Private Limited, indicating an internal restructuring of shareholding within the group. Second, the board discussed the company's future business development plans in detail. The meeting ran from 11:15 AM to 12:30 PM at the registered office in Visakhapatnam.
This is a routine corporate restructuring move involving the transfer of shares of Meloria Arc Limited from a wholly owned subsidiary to the parent company, which is not expected to have any material impact on shareholders or the stock price. No dividend, buyback, bonus, or other capital action affecting shareholders was announced.