Steelman Telecom to issue 28.23 Lakh Warrants worth ₹19.76 Cr

Steelman Telecom Ltd announced that its Board of Directors has approved the issuance of 28,23,800 Fully Convertible Warrants at a price of ₹70 per warrant. These warrants are convertible into equity shares of face value ₹10 each within 18 months. The total issue size amounts to ₹19,76,66,000. The issuance is on a preferential basis to identified investors, including promoters Mahendra Bindal, Mayank Bindal, Deep Shikha Bindal, Saloni Bindal, and Aumit Capital Advisors Limited. The approval is subject to shareholder and regulatory authorities' consent.