Outcome of Board Meeting held on 9th May, 2026 is enclosed.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Steelco Gujarat Ltd's board approved a revised rights issue of up to ₹1,489.66 Lakhs (approximately ₹14.90 crore) through issuance of 13,30,060 fully paid-up equity shares at ₹112 per share (face value ₹10 plus premium ₹102). Existing shareholders on the Record Date of 15th May 2026 will receive 5 rights shares for every 1 share held. The issue opens on 25th May 2026 and closes on 4th June 2026. This filing revises earlier outcomes from February 2026. Separately, the board appointed Mr. Ravikant Pandey as Vice President-Operations for 2 years starting 11th May 2026. Mr. Pandey brings 40 years of experience in cold rolling mills and steel operations, having held senior roles at companies like Jindal India and Bhushan Power & Steel.
Existing shareholders face dilution unless they participate in the rights issue. The ₹112 issue price signals management's valuation expectations. The appointment of an experienced operations professional may support future operational performance.