Vardhman Holdings Limited — Board Meeting, 02-06-2025: Outcome of Board Meeting

Vardhman Holdings has approved a shareholders agreement with Aichi Steel Corporation (ASC) and other promoters of Vardhman Special Steels Limited. ASC’s stake in VSSL has risen sharply from 11.33% to 24.90%. The updated agreement sets clear rules around share transfers, non-compete commitments, and protections like right of first refusal, tag-along, and drag-along rights, aimed at safeguarding all shareholders’ interests. This move strengthens ASC’s position and aligns promoters on strategic governance without any conflicts flagged.