Steelman Telecom Board Approves Fundraise, Director Re-appointments
Steelman Telecom Ltd's Board of Directors convened on August 20, 2026, approving several key decisions. These include altering the Memorandum of Association, re-appointing Mr. Mahendra Bindal as Managing Director, Mr. Girish Bindal as Executive Director-cum-Chairman, Mr. Atul Kumar Bajpai as Independent Director, and Mr. Pravin Poddar for further terms. The board also approved a fundraise of up to ₹50 Crore via convertible warrants or other securities on a preferential basis. Additionally, the Secretarial Audit Report, Management Discussion and Analysis Report for FY2025-2026, and the notice for the 23rd Annual General Meeting were approved. The AGM is scheduled for August 19, 2026, with the Register of Members and Share Transfer Books closed from September 13-19, 2026, and the cut-off date for voting rights set for September 12, 2026. Mr. Saurabh Basu was appointed as the Scrutinizer for the AGM.
Key Highlights
- Board approved fundraise of up to ₹50 Crore via preferential issue.
- Multiple director re-appointments approved for five-year terms.
- Alteration of Memorandum of Association object clause approved.
- 23rd Annual General Meeting scheduled for August 19, 2026.
- Secretarial Audit Report and FY2025-2026 MDA adopted.
Price Impact
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