Steelco Gujarat Ltd Completes Allotment of Shares from Rights Issue; Capital Increases
Steelco Gujarat Limited has finalized the allotment of equity shares resulting from a recent Rights Issue, leading to an increase in the company's paid-up equity share capital. The Board of Directors approved the allocation on Saturday, June 06, 2026.The Rights Issue was announced earlier by the company and provided shareholders with the opportunity to subscribe to up to 13,30,060 fully paid-up equity shares. These shares carry a face value of Rs. 10/- each and were offered at an issue price of Rs. 112/- per Rights Equity Share. The offering included a premium of Rs. 102/- per Rights Equity Share, aggregating up to Rs. 1489.66 Lakhs.
The subscription period for the Rights Issue ran from May 25, 2026, until June 04, 2026.
Following the finalization of the basis of allotment in consultation with the Registrar to the Issue and approval by BSE Limited, the Board of Directors considered and approved the allotment of all 13,30,060 fully paid-up Equity Shares to eligible shareholders and/or renouncees, as stipulated in the Letter of Offer dated May 09, 2026.
The successful allotment has resulted in a significant increase in Steelco Gujarat Limited's capital structure. The financial impact before and after the allotment is detailed below:
| Particulars | Pre-Allotment Status | Post-Allotment Status |
|---|---|---|
| Paid-up Equity Share Capital (Amount) | Rs. 4,96,60,120/- | Rs. 6,29,60,720/- |
| Paid-up Equity Shares (Quantity) | 49,66,012 Shares of Rs. 10/- each | 6296072 Shares of Rs. 10/- each |
The meeting of the Board of Directors concerning this allotment commenced at 12:17 p.m. and concluded at 12:53 p.m.
Stock Price Movement
Trading post-market on Friday, shares of Steelco Gujarat Ltd settled at ₹169.35, marking a 4.99% gain from the previous close. This increase occurred despite shares trading completely flat during the session, as the intraday high and low were both locked at ₹169.35.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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