Steelco Gujarat Limited Announces Rights Issue Terms and Record Date
Steelco Gujarat Limited's Board approved a rights issue of 13,30,060 shares at ₹112 each, totaling ₹1,489.66 Lakhs. The record date is May 15, 2026, with the issue opening on May 25 and closing on June 4, 2026.
*this image is generated using AI for illustrative purposes only.
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.
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | Revised Record Date | Friday, 15 May, 2026 |
| 2 | Total Number of Rights Equity Shares | 13,30,060 fully paid-up Equity Shares |
| 3 | Issue Price | ₹112 per Rights Equity Share (including premium of ₹102 per share) |
| 4 | Rights Entitlement Ratio | 5:1 (5 Rights Equity Shares for every 1 fully paid-up Equity Share held) |
| 5 | Aggregate Issue Size | Up to ₹1489.66 Lakhs (assuming full subscription) |
| 6 | Rights Issue Opening Date | Monday, 25 May, 2026 |
| 7 | Last Date for On-Market Renunciation | Friday, 29 May, 2026 |
| 8 | Rights Issue Closing Date | Thursday, 04 June, 2026 |
| 9 | RE-ISIN | INE629B20016 |
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.
How might the revised issue price of ₹112 per share compare to Steelco Gujarat's prevailing market price around the record date, and what does this imply for shareholder subscription appetite?
What are the likely strategic uses of the ₹1,489.66 Lakhs raised through this rights issue, and how could capital deployment impact the company's operational capacity or debt profile?
Given that the terms were revised from the February 2026 announcement, what market or regulatory factors may have prompted the changes, and could further revisions still occur before the issue closes?
16
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
