Steelco Gujarat Limited has announced the appointment of Mr. Ravikant Pandey as Vice President-Operations, effective from May 11, 2026. The decision was approved by the Board of Directors during a meeting held on May 9, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Details

The Board meeting commenced at 11:33 a.m. and concluded at 12:24 p.m. on May 9, 2026. The appointment of Mr. Pandey was a key agenda item, and the Board approved his appointment for a term of two years. The announcement was formally communicated to BSE Limited, with the company's scrip code being 500399 and ISIN INE629B01032.

Profile of Mr. Ravikant Pandey

Mr. Ravikant Pandey is a seasoned professional with 40 years of expertise in Cold Rolling Mills (CRM) and coated product operations. He previously served as the Chief Operating Officer (CRM) at Neotech Speciality Structures Pvt. Ltd., where he oversaw Colour Coating Lines and PEB. Throughout his career, he has held senior leadership roles, including Vice President and Plant Head, at prominent steel organizations such as Jindal India, Bhushan Power & Steel, and Asian Colour Coated Ispat Ltd (ACCIL).

Mr. Pandey's technical proficiency includes the erection, commissioning, and optimisation of 20-High, 6-High, and 4-High cold rolling mills. He holds a Diploma in Mechanical Engineering and a Post Graduate Diploma in Business Administration (Marketing). The company disclosed that there are no relationships between directors and the appointee that require disclosure.

Appointment Details

The following table summarizes the key details of Mr. Pandey's appointment:

The appointment is expected to strengthen Steelco Gujarat Limited's operational capabilities, leveraging Mr. Pandey's extensive experience in the steel industry.

Steelco Gujarat Limited has officially announced the approval of its proposed rights issue following a Board of Directors meeting held on May 9, 2026. The company plans to raise capital through the issuance of equity shares on a rights basis to eligible shareholders. This decision comes as a modification to previous outcomes dated February 18 and February 19, 2026, aligning with SEBI regulations.

Rights Issue Details

The company will issue up to 13,30,060 fully paid-up equity shares with a face value of ₹10 each. The issue price has been set at ₹112 per share, which includes a premium of ₹102 per share. The total aggregate issue size is expected to reach ₹1,489.66 Lakhs, assuming full subscription. The rights entitlement ratio is fixed at 5:1, meaning shareholders will receive five rights equity shares for every one fully paid-up equity share held as on the record date.

Key Dates and Schedule

Steelco Gujarat has outlined a specific timeline for the rights issue process. The revised record date to determine shareholder eligibility is Friday, May 15, 2026. The rights issue is scheduled to open on Monday, May 25, 2026, and will close on Thursday, June 4, 2026. Shareholders wishing to renounce their rights on the market must do so by Friday, May 29, 2026.

Regulatory Compliance and Procedures

The company has made necessary arrangements with NSDL and CDSL for the credit of Rights Entitlements (REs) under a separate ISIN. These entitlements will be credited to the demat accounts of eligible shareholders prior to the issue opening date. The Board has also approved the submission of the Revised Letter of Offer to the Securities and Exchange Board of India (SEBI) and BSE Limited. The meeting of the Board of Directors commenced at 11:33 a.m. and concluded at 12:24 p.m. on the day of the announcement.