Vardhman Special Steels Limited — Important, 25-06-2025: General Updates

Vardhman Special Steels has announced a board meeting to discuss the financial results for the quarter and half-year. The company completed a preferential allotment of 14.77 million shares to Aichi Steel Corporation (ASC) at INR 260.60 per share, raising approximately INR 385 Cr, increasing ASC’s stake from 11.33% to 24.90%. The Articles of Association were amended to incorporate terms of the Share Subscription and Investment Agreement, granting ASC rights to nominate up to two directors and observers, and approval powers on certain key corporate matters, strengthening ASC’s strategic influence.