Outcome of the Board Meeting held on 26/05/2025 is enclosed.
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The Board of Directors of Steelco Gujarat Ltd met on 26th May 2025 and approved the audited standalone financial results for the fourth quarter and full year ended 31st March 2025. The Board also decided to appoint a professional agency and prepare an action plan to achieve the minimum public shareholding requirement, likely through a rights issue or other permitted means. Additionally, M/s. K R Associates, Chartered Accountants, was appointed as the Internal Auditor of the Company for FY 2025-26.
The approval of full-year audited results is a routine compliance event. The move to achieve minimum public shareholding through a potential rights issue could lead to equity dilution for existing shareholders. The new internal auditor appointment is a standard governance update with no immediate material impact on shareholders.