Steelco Gujarat Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 31/10/2025 ,inter alia, to consider and approve To appoint Merchant Banker ....
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Steelco Gujarat Ltd has informed BSE that its Board of Directors will meet on Friday, October 31, 2025. The main agenda item is to appoint a Merchant Banker who will help explore the possibility of a Rights Issue. The purpose of this Rights Issue is to help the company achieve the Minimum Public Shareholding (MPS) requirement mandated by SEBI. The intimation has been filed under Regulation 29 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
This is an early-stage, exploratory step — no Rights Issue has been approved yet, only the appointment of a banker to evaluate the route. For shareholders, it signals that the company is currently non-compliant with the minimum public shareholding norm and plans to use a rights issue (offering shares to existing shareholders) to fix this. Share price impact is likely limited at this stage, but dilution and pricing details will matter once formally announced.