STEEL EXCHANGE INDIA LIMITED — Board Meeting, 18-12-2024: Outcome of Board Meeting

The Board has approved raising funds up to ₹600 Cr through various issuance methods, subject to shareholder approval. Mr. Brahmaiah Telaprolu has been appointed as CFO, while Mr. M Mallikarjuna Rao resigned as Interim CFO but will remain as GM Accounts. Additionally, Mr. Subbarao Venkata Munnang has been named Additional Independent Director, pending shareholder consent. The Board will hold an Extra Ordinary General Meeting on January 10, 2025, to discuss these appointments. The Board also sanctioned the slump sale of a non-core asset for ₹50 Cr as part of a debt reduction plan.