Vardhman Special Steels has allotted 46,29,629 fully paid-up equity shares having a face value of Rs 10 per equity share to Aichi Steel Corporation (ASC) at a price of Rs 108 per Share, aggregating to Rs 49.99 crore by way of preferential allotment on private placement basis. Pursuant to such allotment of Subscription Shares, ASC holds 11.46% of the share capital of the company.
The Board of the company at its meeting held on November 04, 2019, allotted the same.
Vardhman Special Steels incorporates cutting-edge manufacturing technology, ensuring the highest levels of quality and compliance. Placed among the leading producers of Special and Alloy Steels, the company caters to diverse requirements of hot rolled bars for Engineering, Automotive, Tractor, Bearing and Allied Industries.
