Steelco Gujarat Limited Finalizes Terms for ₹14.89 Crore Rights Issue

The Board of Directors of Steelco Gujarat Limited, during its meeting on May 9, 2026, approved a comprehensive revision to the terms of its upcoming Rights Issue. This move updates the initial framework proposed in February 2026 and sets a clear roadmap for the company's capital-raising efforts.

Rights Issue Structure and Pricing

Steelco Gujarat aims to raise a total of ₹1,489.66 Lakhs, assuming full subscription. The company will issue up to 13,30,060 fully paid-up Equity Shares, each with a face value of ₹10. The issue price has been set at ₹112 per share, which includes a premium of ₹102 per share.

The Rights Entitlement Ratio is fixed at 5:1, meaning eligible shareholders can subscribe to 5 new equity shares for every 1 fully paid-up share they hold as of the record date. To facilitate this process, the Board has established Friday, May 15, 2026, as the revised Record Date for determining shareholder eligibility.

Key Dates for Shareholders

The Rights Issue is scheduled to open on Monday, May 25, 2026. Shareholders who wish to trade or transfer their rights entitlements must complete on-market renunciations by Friday, May 29, 2026. The issue is currently slated to close on Thursday, June 04, 2026, although the Board maintains the authority to extend this period up to a maximum of 30 days from the opening date.

Source : Equity Bulls

Keywords

SteelcoGujarat RightsIssue FundRaising RecordDate