Vardhman Special Steels Limited has informed the Exchange regarding allotment of 14770100 securities pursuant to Preferential Issue at its meeting held on July 04, 2025
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Vardhman Special Steels has allotted 1,47,70,100 fully paid-up equity shares of ₹10 face value to Japan's Aichi Steel Corporation (ASC) at ₹260.60 per share, aggregating to about ₹384.91 crore. The allotment was approved by the Strategic Investment Committee on July 4, 2025, following shareholder approval at the EGM on June 25, 2025. Post-allotment, ASC holds 24.90% stake in the company, making it a major strategic shareholder. The company's total issued share capital has risen from 8.17 crore to 9.65 crore equity shares.
The preferential issue brings in a strong Japanese strategic partner (Aichi Steel Corporation) and adds ~₹385 crore to the company's equity, which can support growth and capex plans. Existing shareholders face dilution of about 15% due to the new share issuance.