The Board of Directors at its meeting held on Tuesday, 13th January, 2026 considered and approved the fundraising by way of the issuance of fully-paid up equity shares of the Company having ....
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The Board of Steelco Gujarat Ltd, at its meeting on January 13, 2026, approved a Rights Issue of fully-paid-up equity shares (face value Rs. 10) for a maximum amount of Rs. 15 Crores, to be offered to eligible shareholders as on a record date to be notified later. A Rights Issue Committee has been formed to decide on the issue price, entitlement ratio, record date, and other terms in due course, subject to SEBI ICDR Regulations and other approvals. Separately, Mr. Anshoo Raj Khare resigned as Whole-time Director with effect from the same date, and Mr. Shankar R Bharadhwaj (a Chartered Accountant with 25+ years in finance) was appointed as Nominee Director representing the Debenture Trustee, Vistra ITCL (India) Limited.
Eligible shareholders will get the first opportunity to subscribe and maintain their stake, but failure to subscribe will lead to dilution. The appointment of a Nominee Director linked to a Debenture Trustee signals that the company has outstanding debentures, which existing investors should factor into their assessment of the company's leverage.