Aanchal Ispat Limited has closed its trading window for insiders effective June 16, 2026, to ensure compliance ahead of a board meeting scheduled for June 23, 2026. The window will remain shut until 48 hours after the company declares the outcome of the board meeting to the stock exchanges. The board will evaluate a proposal to raise funds through various instruments, including equity shares and Qualified Institutions Placements (QIP).

The fund-raising options under consideration include issuing equity shares, equity-linked instruments, convertible preference shares, and warrants. The company may conduct the fund-raising via private placement, QIP, further public issue, rights issue, or a combination of these methods, subject to necessary approvals. This move is part of the company's strategy to secure capital for future operations.

The trading window closure applies to Directors, Key Managerial Persons, and designated persons of the company. This measure is in accordance with the Company's Code of Conduct framed pursuant to the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and Circular No. LIST/COMP/01/2019-20 dated April 02, 2019.

The board meeting is convened under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Any approval granted by the board will be subject to shareholder consent at general meetings and other statutory or regulatory approvals as applicable.

Meeting Details

Aanchal Ispat Limited secured shareholder approval for its capital raising strategy through a Qualified Institutions Placement (QIP) at its Extra-ordinary General Meeting (EGM) held on May 23, 2026. The resolution to issue equity shares and/or equity-linked securities in one or more tranches received 100% of the votes polled, with 2,263,196 votes in favour and none against. This approval enables the company to raise funds from qualified institutional investors to support its financial objectives.

The EGM was conducted via Video Conferencing (VC) and Other Audio-Visual Means (OAVM) in compliance with Ministry of Corporate Affairs and Securities and Exchange Board of India (SEBI) circulars. Ms. Manisha Saraf, Proprietor of M/s. Manisha Saraf & Associates, Practicing Company Secretaries, served as the Scrutinizer to ensure the voting process was fair and transparent. The meeting was chaired by Mr. Mukesh Goel, Managing Director, with requisite quorum present.

Voting Results

The voting process combined remote e-voting, which was open from May 20 to May 22, 2026, and e-voting conducted during the meeting. A total of 2,263,196 votes were polled, representing 79.88% of the total outstanding shares. The Promoter and Promoter Group cast 2,124,998 votes, all in favour, while Public-Non Institutions contributed 138,198 votes, also entirely in favour.

Meeting Oversight

The scrutiny of the electronic voting process was witnessed by Ms. Rakhi Gupta and Mr. Nishant Jain, who are not employed by the company or its registrar, Purva Sharegistry (India) Private Limited. The detailed voting results and Scrutinizer's Report have been submitted to BSE Limited and will be available on the company's website. The resolution was passed as a Special Resolution with the requisite majority.