Vardhman Special Steels Limited — Board Meeting, 29-05-2025: Outcome of Board Meeting

Vardhman Special Steels has announced a board meeting on approving a preferential issue of 1.48 crore shares at INR 260.60 each, raising INR 385 Cr from Japan’s Aichi Steel Corporation (ASC). This will increase ASC’s stake from 11.33% to 24.90%, allowing them to nominate two directors and have a say in major decisions like mergers and discounted share issuances. The company will amend its articles accordingly and seek shareholder approval at an upcoming EGM. A strategic move that strengthens ASC’s influence and deepens their partnership.