Steelco Gujarat Limited has disclosed the outcome of its Board of Directors meeting held on Saturday, 06th June, 2026. The disclosure is made pursuant to Regulation 30 of the SEBI Listing Regulations.
The Board meeting was convened to finalize matters related to the company's Rights Issue. The company had previously announced a Rights Issue of up to 13,30,060 fully paid-up equity shares, each with a face value of ₹10, offered at a price of ₹112 per share (including a premium of ₹102 per share). This offering aggregated to ₹1,489.66 Lakhs (₹14.90 crore).
The Rights Issue had a specific timeline: it opened for subscription on 25th May, 2026, and closed on 04th June, 2026.
At the meeting, the Board of Directors approved the final basis of allotment for the Rights Issue. This allotment was finalized in consultation with the Registrar to the Issue and received approval from BSE Limited, which acted as the Designated Stock Exchange for this Issue.
The Board approved the allotment of all 13,30,060 fully paid-up Equity Shares on a Rights Basis. The shares were allotted to eligible shareholders and/or their renouncee(s) as per the terms outlined in the Letter of Offer dated 09th May, 2026. The issue price was confirmed at ₹112 per Equity Share.
Capital Structure Impact
The allotment resulted in a significant change to the company's paid-up equity share capital:
- Pre-Allotment Capital: ₹4,96,60,120, divided into 49,66,012 Equity Shares of ₹10 each.
- Post-Allotment Capital: ₹6,29,60,720, divided into 62,96,072 Equity Shares of ₹10 each.
This represents an increase of ₹1,33,00,600 in paid-up capital and an issuance of 13,30,060 new shares.
Meeting Details
The Board meeting commenced at 12:17 p.m. and concluded at 12:53 p.m. on 06th June, 2026.