Outcome of the Meeting of the Rights Issue Committee of Steelco Gujarat Limited held on 18th February, 2026 is enclosed.
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The Rights Issue Committee of Steelco Gujarat Limited met on 18th February 2026 and finalised the terms of a rights issue. The company will issue 1,48,98,036 fully paid-up equity shares of ₹10 face value at an issue price of ₹10 per share, raising up to ₹1,489.80 lakhs. The ratio is 3 rights shares for every 1 existing share held. The Record Date has been fixed as Tuesday, 24th February 2026 to identify eligible shareholders. The rights issue opens on 6th March 2026 and closes on 13th March 2026, with renunciation allowed until 10th March 2026.
Existing shareholders need to hold shares by 24th February 2026 to be eligible for the rights entitlement. Since shares are being issued at face value (₹10) with no premium, the issue price represents a significant discount to likely market price, meaning existing shareholders are getting a chance to buy additional shares cheaply but will need to invest more capital or the share price may face dilution pressure.