Vardhman Special Steels invests Rs 2.64 Cr in Sone Solar via CCDs
Vardhman Special Steels has completed its investment in Sone Solar Private Limited by subscribing to 0.5% CCDs worth ₹2.64 crore on July 8, 2026. This final tranche brings the aggregate investment to ₹15.10 crore, while the company's equity shareholding in Sone Solar remains at 26%.
*this image is generated using AI for illustrative purposes only.
Vardhman Special Steels has completed its investment in Sone Solar Private Limited by subscribing to 0.5% Compulsory Convertible Debentures (CCDs) worth ₹2.64 crore. This transaction, finalized on July 8, 2026, covers the balance payment of the third and final tranche. The company's total commitment to Sone Solar, comprising equity shares and CCDs, now stands at ₹15.10 crore, with its shareholding in the equity share capital of Sone Solar Private Limited remaining constant at 26%.
The latest tranche consists of 26,43,800 CCDs with a face value of ₹10 each. This follows an initial investment of ₹1.13 crore disclosed on October 30, 2025, which involved 11,35,425 CCDs. The investment was structured through tranches of CCDs carrying a coupon rate of 0.5%.
Investment Details
The filing submitted to BSE Limited and The National Stock Exchange of India Ltd confirms the completion of this financial commitment.
| Tranche | Investment Amount (₹) | Number of CCDs | Face Value (₹) |
|---|---|---|---|
| First Tranche | 1,13,54,250 | 11,35,425 | 10 |
| Third Tranche | 2,64,38,000 | 26,43,800 | 10 |
| Total | 15,10,00,000 | 37,79,225 | 10 |
The intimation was submitted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sonam Dhingra, Company Secretary, signed the disclosure on behalf of Vardhman Special Steels Limited.
Historical Stock Returns for Vardhman Special Steels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.50% | -0.48% | -0.46% | -0.90% | +5.98% | +106.19% |
How will Vardhman Special Steels integrate Sone Solar's capabilities into its existing business operations?
What are the expected financial returns from the 0.5% coupon rate on the CCDs upon conversion?
Will Vardhman Special Steels increase its stake in Sone Solar beyond the current 26% in the future?
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