Outcome of Board Meeting held on 06th June, 2026 pursuant to Regulation 30 is enclosed.
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Steelco Gujarat's board, at its meeting on 6th June 2026, approved the allotment of 13,30,060 equity shares under its Rights Issue at Rs. 112 per share (including a Rs. 102 premium), raising up to Rs. 14.90 crore in total. The Rights Issue opened on 25th May 2026 and closed on 4th June 2026. Following this allotment, the company's paid-up equity share capital has increased from Rs. 4.97 crore (49,66,012 shares) to Rs. 6.30 crore (62,96,072 shares). Separately, the board appointed M/s. Grant Thornton Bharat LLP as the Internal Auditor of the company for FY 2026-27.
The rights issue has now been fully allotted, diluting existing shareholders by roughly 26.8% on a per-share basis but bringing in ~Rs. 14.90 crore of fresh capital. Existing shareholders who did not subscribe may see a reduction in their proportional ownership, while the Grant Thornton appointment signals a move towards stronger internal audit and governance standards.