Steelman Telecom Ltd — Updates, 03-06-2025: Company Update

Steelman Telecom Limited’s subsidiary, EC Wheels India Pvt Limited, is expanding its electric passenger vehicle business and continues to raise capital. It recently secured Rs. 54.01 lakh through the issue of 34,403 Pre-Series A Compulsorily Convertible Preference Shares at Rs.157 each from new investors. This fundraising slightly reduced Steelman Telecom’s stake in EC Wheels from 50.36% to about 50.22%. The capital infusion supports EC Wheels’ growth plans while causing minor changes in the shareholding structure, reflecting ongoing investor interest and strategic funding for expansion.