Vardhman Special Steels Limited — Important, 03-06-2025: Agreements

Vardhman Special Steels’ Promoters and Promoter Group have signed a Shareholders Agreement with Aichi Steel Corporation (ASC), increasing ASC’s stake from 11.33% to 24.90%. The agreement sets mutual rights like share transfer limits, first refusal, drag-along/tag-along rights, and non-compete/non-solicit clauses. Indemnity provisions protect both parties against breaches. It won’t affect management control or cause conflicts, ensuring stable collaboration and aligned interests for future growth.