Steelman Telecom
112.00
-4.65(-3.99%)
Market Cap₹112.90 Cr
PE Ratio158.90
IndustryTelecom
Company Performance:
1D-3.99%
1M-17.16%
6M-19.28%
1Y-33.81%
5Y-33.75%
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Latest news about Steelman Telecom
Steelman Telecom Forfeits Rs 4.28 Crore as Warrant Holders Fail to Exercise Conversion Option Jul 25, 2025
Steelman Telecom announced that warrant holders failed to exercise their conversion option within the 18-month deadline, resulting in the forfeiture of the Rs 4.28 crore upfront payment. The company had issued 10 lakh fully convertible warrants at Rs 171 each to eight allottees on January 25, 2024. Warrant holders were required to pay 25% upfront and had the option to convert to equity shares by paying the remaining 75% within 18 months. As no conversions occurred by July 24, 2025, the upfront amount was forfeited. This development impacts the company's anticipated equity infusion of Rs 12.83 crore.