Steelman Telecom has clarified the schedule for its 23rd Annual General Meeting (AGM), confirming the event will take place on Saturday, September 19, 2026, at 12:00 noon. The meeting is scheduled to be held at Mani Casadona, Flat No 15E1, Floor No-15, Plot No-IIIF/04, Street No-372, Action Area-IIIF, New Town, Kolkata-700156.

This update supersedes earlier reports indicating an August 19 date. The company issued the intimation pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 91 of the Companies Act, 2013.

Book Closure and Voting Rights

In accordance with regulatory requirements, the Register of Members and Share Transfer Books will remain closed from Sunday, September 13, 2026, to Saturday, September 19, 2026 (both days inclusive). This closure is specifically for the purpose of the Annual General Meeting.

The cut-off date for reckoning voting rights for remote e-voting and e-voting on the day of the AGM is Saturday, September 12, 2026.

Preferential Warrant Issue and Board Approvals

Separately, the Board of Directors had previously approved a proposal to raise ₹19.77 crore through the issuance of 28,23,800 Fully Convertible Warrants (FCWs) at an issue price of ₹70 per warrant. This preferential issue, approved on August 20, 2026, targets promoters and a select group of non-promoters. The warrants are convertible into equity shares within 18 months of allotment.

The fundraise is structured with 55.7% of the warrants allotted to promoters and 44.3% to non-promoters. Promoter investors include Mahendra Bindal, Mayank Bindal, Deep Shikha Bindal, and Saloni Bindal, each receiving 3,93,450 warrants worth ₹2.75 crore. Non-promoter investor Aumit Capital Advisors Limited has been allotted 12,50,000 warrants for ₹8.75 crore.

Investment Structure

The total consideration for the issue is ₹19,76,66,000. Investors are required to pay 25% of the issue price upfront with the application, with the balance 75% payable upon exercise of the conversion option.

Leadership Reappointments

The Board of Directors also approved the reappointment of key leadership figures for consecutive five-year terms starting from May 17, 2027. These appointments are subject to shareholder approval upon the completion of their existing terms.

• Mahendra Bindal as Managing Director, serving from May 17, 2027, to May 17, 2032.
• Girish Bindal as Executive Director-cum-Chairman, serving from May 17, 2027, to May 17, 2032.
• Atul Kumar Bajpai as Independent Director, serving from May 17, 2027, to May 17, 2032.
• Pravin Poddar, whose term will run from July 1, 2027, to July 1, 2032.

Corporate Governance and Compliance

The board considered and approved the alteration of the Object Clause of the Memorandum of Association by inserting a new ancillary object clause. This change requires requisite approval from shareholders and applicable statutory authorities.

The board adopted the Secretarial Audit Report for FY26 and approved the draft Management Discussion and Analysis Report for the same financial year. Mr. Saurabh Basu, a Practicing Company Secretary, was appointed as the Scrutinizer for the upcoming Annual General Meeting to ensure a fair and transparent voting process.

The disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Steelman Telecom Limited has scheduled a meeting of its Board of Directors for Thursday, August 20, 2026, at 12:00 Noon, primarily to consider proposals for raising capital and approving key corporate governance matters ahead of its 23rd Annual General Meeting (AGM). The most material item on the agenda is the potential raising of funds not exceeding ₹50 crore through the issuance of equity shares, convertible share warrants, or other eligible convertible securities on a preferential basis to promoters or a selective group of non-promoters. This strategic move aims to strengthen the company’s capital base, subject to shareholder approval and compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The Board will also deliberate on the re-appointment of senior leadership roles, ensuring continuity in management. Key appointments include Mr. Mahendra Bindal as Managing Director, Mr. Girish Bindal as Executive Director cum Chairman, and independent directors Mr. Atul Kumar Bajpai and Mr. Pravin Poddar. These resolutions are critical for maintaining the company’s operational stability and governance structure as it moves forward.

In addition to the fundraising proposal, the Board is set to approve the alteration of the object clause in the Memorandum of Association (MOA) by inserting a new ancillary object. This change may expand the company’s operational scope or align its legal framework with current business activities. The Board will also adopt the Secretarial Audit Report for the Financial Year 2025-26 and approve the draft Management Discussion and Analysis (MD&A) Report for the same period.

Key Agenda Items

The meeting will also address logistical preparations for the 23rd AGM, including the decision on the date and venue, the appointment of a scrutinizer for voting, and the determination of cut-off dates for the closure of the Register of Members and Share Transfer Book. Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company notified the Bombay Stock Exchange of these proceedings.

Trading Window Closure

In compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company’s Code of Conduct for Regulating, Monitoring, and Reporting of Trading by Insiders, the trading window for designated persons and their immediate relatives remains closed. This restriction began on August 12, 2026, and will continue until 48 hours after the conclusion of the Board meeting, preventing insider trading during this sensitive period.

What the Numbers Show

The proposed fundraising of up to ₹50 crore via preferential allotment indicates a strategic intent to raise capital without diluting existing shareholders proportionally through a public offer. By targeting promoters or a selective group of non-promoters, Steelman Telecom can secure funds efficiently while maintaining control. The simultaneous focus on governance—through director re-appointments and audit approvals—suggests a period of consolidation and preparation for future growth initiatives, likely tied to the new ancillary objects in the MOA.