Description

Steelco Gujarat Ltd has cancelled the previously announced record date of February 24, 2026 for its Rights Issue of Equity Shares. A new record date will be announced by the company in due course.

Summary

BSE has issued Notice No. 20260223-11 informing trading members that Steelco Gujarat Ltd (Scrip Code: 500399) has cancelled the record date of February 24, 2026, which had been set for its Rights Issue of Equity Shares. This cancellation supersedes the earlier Exchange Notice No. 20260219-11 dated February 19, 2026. The company has stated that a new record date will be announced in due course.

Key Points

  • Steelco Gujarat Ltd (Scrip Code: 500399) has cancelled its previously announced record date of February 24, 2026 for its Rights Issue of Equity Shares.
  • The cancellation is in continuation of Exchange Notice No. 20260219-11 dated February 19, 2026.
  • The ex-date of February 24, 2026 is also treated as cancelled.
  • The Exchange will not give effect to the Corporate Action of Rights Issue as communicated in the earlier notice.
  • A new record date will be announced by the company at a later stage.

Regulatory Changes

No new regulatory framework changes are introduced. This notice reverses and nullifies the corporate action timeline previously communicated under Notice No. 20260219-11 dated February 19, 2026.

Compliance Requirements

  • Trading members must treat the ex-date of February 24, 2026 as cancelled and take no action based on the earlier notice.
  • The Exchange will not process or give effect to the Rights Issue corporate action under the previously announced terms.
  • Members should await a fresh announcement from the company regarding the new record date before taking any related positions or actions.

Important Dates

  • February 19, 2026: Original notice (No. 20260219-11) announcing record date for Rights Issue.
  • February 23, 2026: Current notice (No. 20260223-11) cancelling the record date.
  • February 24, 2026: Previously announced record date and ex-date — now cancelled.
  • TBD: New record date to be announced by Steelco Gujarat Ltd in due course.

Impact Assessment

This cancellation has a direct and immediate impact on investors and trading members who had anticipated the Rights Issue ex-date and record date of February 24, 2026. Positions or entitlements built around the anticipated rights issue must be reconsidered. The postponement introduces uncertainty for existing shareholders regarding their eligibility and timing for the rights entitlement. Market participants should monitor further announcements from Steelco Gujarat Ltd and BSE for the revised record date.

Impact Justification

Cancellation of a previously announced record date and ex-date directly affects shareholders and trading members who had planned positions around the rights issue; requires immediate attention and reversal of prior actions.