Steelman Telecom Announces Board Meeting to Consider Preferential Fundraising of Up To Rs. 50 Crores
Steelman Telecom Ltd, formerly known as Steelman Telecom Private Limited, has scheduled a meeting of its Board of Directors for Monday, June 29, 2026. The primary focus of the meeting is to consider proposals related to raising funds through the issuance of equity and convertible securities.The board agenda includes evaluating a proposal for raising up to Rs. 50 Crores by issuing Equity or Convertible Share Warrants, or any other eligible convertible securities. This fundraising is planned to be executed on a preferential basis, targeting promoters and selected non-promoters, subject to subsequent approval from shareholders and the Stock Exchange where the company's shares are listed.
Beyond the financing proposal, the meeting will address several key governance and operational items for the company. These agenda points include convening an Extra Ordinary General Meeting (EGM), deciding on the date and venue of the EGM, and approving the notice for the event. Furthermore, the board is set to approve the cut-off dates for closing the Register of Members and the Share Transfer Book.
Another item slated for discussion is the appointment of a Scrutinizer who will conduct voting on the resolutions to be passed at the Extra Ordinary General Meeting.
In light of corporate conduct regulations, Steelman Telecom has also announced trading restrictions for designated persons and their immediate relatives. The company's trading window for dealing in its shares remains closed starting June 22, 2026, and will remain restricted until 48 hours after the conclusion of the Board Meeting.
Stock Price Movement
At the close of trade today, Steelman Telecom Ltd's shares settled at ₹60.00 after declining by 10.38%. The stock remained locked throughout the day, with intraday highs and lows completely flat at that single price point.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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