Step Two Corporation Limited disclosed the outcomes of its Board Meeting held on September 02, 2026, through a regulatory filing under Regulation 30 of SEBI LODR Regulations.

Key Approvals and Quantitative Figures

1. Increase in Authorized Share Capital: The Board approved increasing the authorized share capital from ₹7,85,00,000 (divided into 78,50,000 equity shares of ₹10 each) to ₹12,00,00,000 (divided into 1,20,00,000 equity shares of ₹10 each). This requires shareholder approval and alteration of the Memorandum of Association.

2. Preferential Issue Approval: The Board approved the issuance and allotment of 23,50,000 equity shares of face value ₹10 each at an issue price of ₹17 per share (including a premium of ₹7 per share) through preferential allotment to non-promoter category investors. The total issue size is ₹3,99,50,000.

Dates and Timeline

  • Board Meeting Date: September 02, 2026 (3:30 PM to 4:30 PM)
  • Relevant Date for Floor Price: August 28, 2026
  • AGM Date for Shareholder Approval: September 28, 2026 (10:00 AM at Registered Office)
  • A corrigendum to the AGM notice will be issued to include these special resolutions.

Parties Involved

The preferential issue is targeted at three non-promoter category allottees:

1. Basanti Mehta - Proposed allotment: 12,85,000 shares (13.19% post-issue holding)

2. Sunita Mehta - Proposed allotment: 8,21,000 shares (8.43% post-issue holding)

3. Pooja Mehta - Proposed allotment: 2,44,000 shares (2.50% post-issue holding)

All three allottees currently hold no shares in the company (NA in pre-allotment shareholding).

Capital Structure Impact

  • Pre-issue capital: Not explicitly stated
  • Post-issue capital: 97,44,800 equity shares (as calculated for percentage holdings)
  • The issue will result in significant new ownership by three non-promoter investors
  • The authorized capital increase will enable future capital raising activities

Financial Impact

The preferential issue will bring in cash consideration of ₹3,99,50,000 to the company.

Additional Information

The disclosure includes Annexure I with detailed tabular information about the preferential issue as required by SEBI regulations. The information has been hosted on the company website www.steptwo.in.