Steelco Gujarat Limited announces a rights issue of 13,30,060 equity shares at ₹112 each to raise ₹14.9 crore for working capital and general corporate purposes.
Promoters will forgo their entitlement to help achieve minimum public shareholding compliance as required by SEBI regulations following their post-CIRP increased holding.
The issue opens on May 25, 2026, with a record date of May 15, 2026, offering 5 rights shares for every 1 existing share held.
Net proceeds of ₹14.6 crore will be utilized with ₹11.6 crore for working capital requirements and ₹3 crore for general corporate purposes.