Vardhman Special Steels Limited has informed the Exchange regarding 'Intimation under Regulation 169(5) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018'.
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Awaiting price reaction for this filing.
Vardhman Special Steels has allotted 1,47,70,100 equity shares on a preferential basis to Aichi Steel Corporation (its Japanese strategic partner) at Rs. 260.60 per share, raising a total of Rs. 384.91 crore on 4 July 2025. The Board approved the issue on 29 May 2025 and shareholders cleared it on 25 June 2025, with NSE's in-principle approval received on 27 June 2025. Statutory auditor B S R & Co. LLP has certified that the company has received the full consideration from the allottee's bank account and is in compliance with SEBI ICDR Regulations and the Companies Act. This filing is the final step before these new shares are listed on the exchange, as the company has submitted the auditor's certificate to NSE under Regulation 169(5).
Existing shareholders will see dilution as the share count rises by approximately 1.48 crore shares, though the fresh capital strengthens the company's balance sheet for growth. The continued investment by Aichi Steel, a long-time strategic partner, signals confidence in Vardhman Special Steels' business and may support the stock sentiment once the new shares are listed and trading begins.