Steelco Gujarat Ltd Finalizes Rights Issue Allotment and Appoints Internal Auditor for FY2026-27
Steelco Gujarat Limited announced the successful allotment of shares following its rights issue, concluding with a significant increase in its paid up equity share capital. Furthermore, the company appointed M/s Grant Thornton Bharat LLP as its internal auditor for the Financial Year 2026-27.The Board of Directors meeting held on Saturday, June 6, 2026, considered and approved the allotment of 13,30,060 fully paid up Equity Shares to eligible shareholders and/or renouncees, completing the rights issue that had opened on May 25, 2026, and closed on June 4, 2026.
The rights issue was conducted for cash at an issue price of Rs. 112/- per Rights Equity Share, which included a premium of Rs. 102/- per Rights Equity Share over the face value of Rs. 10/- each. The allotment process concluded with the company's share capital increasing as detailed below:
| Particulars | Pre-Allotment | Post-Allotment |
|---|---|---|
| Paid up Equity Share Capital | Rs. 4,96,60,120/- divided into 49,66,012 Equity Shares of Rs. 10/- each | Rs. 6,29,60,720/- divided into 6,296,072 Equity Shares of Rs. 10/- each |
The company also announced the appointment of M/s Grant Thornton Bharat LLP, Chartered Accounts (Firm Registration Number AAA7677), as the Internal Auditor for the Financial Year 2026-27. The appointment of M/s Grant Thornton Bharat LLP is effective from June 6, 2026.
M/s Grant Thornton Bharat LLP is described as a leading professional services firm in India and a member firm of the global Grant Thornton network. The firm provides services including assurance, tax, risk advisory, consulting, technology transformation, and transaction advisory to various organizations.
Stock Price Movement
Steelco Gujarat Ltd finished trading on Friday, settling at ₹169.35 after advancing 4.99%.The shares remained completely locked throughout the session, with the intraday high and low both recorded 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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