Steelman Telecom Limited concluded its 23rd Annual General Meeting on September 19, 2026, in Kolkata. Shareholders approved all resolutions, including the reappointment of four directors for five-year terms and the issuance of fully convertible warrants.

The company’s Chairman, Girish Bindal, presided over the proceedings. Members adopted the audited financial statements for FY26 along with the directors’ and auditors’ reports. The meeting was held from 12:00 pm to 1:00 pm.

Board Reappointments

Shareholders approved the reappointment of four directors. Mr. Mahendra Bindal was reappointed as Managing Director for a term commencing May 17, 2027, to May 17, 2032. Mr. Girish Bindal was reappointed as Executive Director cum Chairman for the same period.

Mr. Atul Kumar Bajpai was reappointed as an Independent Director for a term starting May 17, 2027, and ending May 17, 2032. Mr. Pravin Poddar was reappointed as an Independent Director for a term starting July 1, 2027, and ending July 1, 2032.

Ms. Saloni Bindal was also reappointed as a director after retiring by rotation.

Strategic Resolutions

The special business agenda included structural changes. Shareholders approved an alteration to the Object Clause of the Memorandum of Association by inserting a new ancillary object. This expands the company’s operational scope as defined in its constitutional documents.

The meeting authorized the issuance of fully convertible warrants on a preferential basis. This allows the company to raise capital through equity-linked instruments without immediate dilution of existing shareholding.

Voting Results

E-voting was facilitated from September 16, 2026, to September 18, 2026. Mr. Saurabh Basu served as the scrutinizer. A total of 41 folios holding 7,774,200 shares cast valid votes out of 96,76,200 total shares held on the record date.

Voting results were published on the company’s website and with the National Securities Depository Limited within 48 hours of the meeting’s conclusion.

Steelman Telecom has scheduled its 23rd Annual General Meeting (AGM) for Saturday, September 19, 2026, at 12:00 noon in Kolkata. The meeting will address critical strategic moves, including a ₹19.77 crore fundraise via fully convertible warrants (FCWs) and an expansion into the solar energy sector.

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.

Strategic Expansion into Solar Energy

A key special resolution seeks shareholder approval to alter the Object Clause of the Memorandum of Association (MoA). The amendment aims to insert a new ancillary object allowing the company to engage in the solar energy sector.

The proposed activities include designing, developing, engineering, procuring, constructing, installing, commissioning, operating, and maintaining solar power projects. This encompasses solar photovoltaic (PV) systems, solar thermal systems, rooftop solar plants, solar parks, and energy storage systems. The board views this move as essential for diversifying operations and capitalizing on growing demand for clean energy solutions.

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. The proceeds are intended to meet working capital requirements for existing business development and general corporate purposes.

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.

Additionally, Ms. Saloni Bindal retires by rotation and offers herself for reappointment as a director liable to retire by rotation.

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.