Scan Steels has scheduled a meeting of its Board of Directors for September 1, 2026, at 4:00 pm. The gathering will take place at Trishna Nirmalaya Bhawan in Bhubaneswar, Odisha, to address key corporate governance matters for the financial year ending March 31, 2026.

The primary objective of the meeting is to consider and approve the draft notice convening the company's 33rd Annual General Meeting (AGM). The board will also review and approve the final Annual Report for FY26, which encompasses the Directors' Report, Corporate Governance Report, and Management Discussion and Analysis Report.

Agenda Highlights

The board's agenda covers several critical compliance and administrative tasks required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Companies Act, 2013. Key items include:

• Approval of the Secretarial Audit Report and Cost Audit Report for FY26.
• Fixing the date, time, venue, and mode for the 33rd AGM, including determining the book closure period and remote e-voting window.
• Appointment of an authorized agency to facilitate remote e-voting during the AGM.
• Consideration of resolutions for altering the authorized share capital and consequential changes to Clause V of the Memorandum of Association, subject to shareholder approval.

Procedural Formalities

The board will also approve arrangements for conducting the AGM and authorize the Company Secretary and other officials to complete necessary formalities. Prabir Kumar Das, Company Secretary and Compliance Officer, issued the intimation on August 19, 2026, in compliance with Regulation 29 of the SEBI Listing Regulations.

Scan Steels Limited has received listing approval from the Bombay Stock Exchange (BSE) for 21,44,239 equity shares, marking a significant step in its capital structure optimization through the conversion of Optionally Convertible Redeemable Preference Shares (OCRPS). The shares, with a face value of ₹10 each and an issue price of ₹58 per share (including a premium of ₹48), were allotted on a preferential basis to both promoters and non-promoters. This issuance enhances the company’s equity base while maintaining parity with existing shareholders, as the new shares rank pari passu in all respects with current equity holdings.

The listing approval was communicated by the BSE under Reference No. LOD/PREF/KS/FIP/616/2026-27 dated August 04, 2026. The company notified the exchange of this development on August 06, 2026, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The distinctive numbers assigned to these equity shares range from 58602296 to 60746534.

Key Details of the Issuance

Regulatory Compliance and Next Steps

While listing approval has been granted, trading approval remains contingent upon further regulatory filings. The BSE has mandated that Scan Steels Limited must file confirmation letters from National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL) confirming the crediting of shares to beneficiary accounts and the admission of capital to the depository system. Additionally, if applicable, the company must submit listing approval from the National Stock Exchange of India Ltd. and confirmation regarding the lock-in of pre-preferential holdings.

Under Schedule XIX of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, listed entities are required to apply for trading approval within seven working days from the date of listing approval. Failure to comply with this timeline attracts fines as specified in SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023. The company must also ensure ongoing compliance with Regulation 167 of the SEBI ICDR Regulations.

Furthermore, the exchange reminded Scan Steels Limited that any change exceeding two percent of the total paid-up share capital requires the filing of a shareholding pattern in XBRL mode, as mandated under Regulation 31(1)(c) of the SEBI LODR Regulations, 2015. This ensures transparency in ownership structure changes following such preferential allotments.