Steelman Telecom Sells 0.61% Stake in EC Wheels for ₹7.5 Lakh

Steelman Telecom Limited's Board of Directors approved the sale of 75,000 equity shares in EC Wheels India Private Limited, representing 0.61% of its equity, for ₹7.5 Lakh. The sale, priced at ₹10 per share based on a valuer's report, will reduce Steelman Telecom's holding in EC Wheels from 50.08% to approximately 49.47%. The transaction with the CFO is considered a Related Party Transaction and was approved by the Audit Committee. The company confirmed the transaction aligns with its Material Subsidiary Policy.