Intimation of Record Date for the Rights issue pursuant to Regulations 30 and 42 of the SEBI LODR is enclosed.
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Steelco Gujarat Ltd has announced a rights issue of up to 1.49 crore fully paid-up equity shares at ₹10 per share, aggregating up to ₹1,489.80 lakhs (approximately ₹14.9 crores). The issue is priced at par (face value ₹10 = issue price ₹10), meaning no discount to market price. Existing shareholders will be offered 3 rights shares for every 1 share they hold. The record date to determine eligible shareholders is Tuesday, 24th February 2026. The rights issue opens on 6th March 2026 and closes on 13th March 2026, with renunciation allowed up to 10th March 2026.
Eligible shareholders as of the record date will receive rights entitlements in their demat accounts and must decide whether to invest additional capital, sell, or let the rights lapse. Since the issue is at par with no discount, there is no inherent pricing incentive, and the 3:1 ratio means significant potential dilution. The relatively small raise size suggests the company is looking to fund modest expansion or working capital needs.