Vardhman Special Steels Limited — Important, 23-06-2025: General Updates

Vardhman Special Steels has announced a board meeting and plans a preferential allotment of 14.77 million equity shares to Aichi Steel Corporation for ₹385 Cr. The funds will be used for setting up a greenfield steel plant in Ludhiana, expanding the existing plant, and repaying working capital borrowings. The company has removed references to any other purposes previously linked with Aichi Steel in the fund utilization statement. This capital raise supports capacity expansion and strengthens the balance sheet.