Steelman Telecom News

Steelman Telecom Approves Share Capital Increase

Steelman Telecom's board approved increasing authorized share capital from Rs. 11 crore to Rs. 12.50 crore, material related party transactions, and scheduled EGM for March 19, 2026.

Steelman Telecom Reports Mixed Half-Year Results with Standalone Profit but Consolidated Loss

Steelman Telecom Limited approved unaudited financial results for half year ended September 30, 2025, showing standalone profit after tax of Rs. 494.56 lakhs but consolidated loss of Rs. 397.85 lakhs. The company's board also noted related party transaction disclosures and segment-wise performance with car rental operations contributing significantly to revenue.

Steelman Telecom Forfeits Rs 42.75 Lakh as Warrant Holders Fail to Exercise Conversion Option

Steelman Telecom Limited announced that warrant holders failed to exercise their conversion option within the 18-month deadline ending July 24, 2025. The company had issued 10 lakh fully convertible warrants at Rs 171 each to 8 allottees including promoters and non-promoters on January 25, 2024. Warrant holders paid 25% upfront (Rs 42.75 per warrant) but did not pay the remaining 75% (Rs 128.25 per warrant) required for conversion to equity shares. As a result, the total upfront amount of Rs 42.75 lakh has been forfeited. The warrant holders included Mahendra Bindal (2 lakh warrants), Mayank Bindal (2 lakh warrants), Laxmi Devi Jhunjhunwala (2 lakh warrants), and five other investors with smaller allocations.