In compliance with Regulation 30 read with Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (including any statutory modification(s), amendment(s) or re-enactment(s) thereof for the time being in force), Steelman Telecom has informed that the Company has completed the acquisition of additional 50,00,000 (Fifty Lakhs) equity shares by way of Preferential allotment on private placement basis as specified in the object clause of DRHP. Consequent to the said acquisition, the Company's shareholding in EC Wheels India is increased from 52.38% (preacquisition) to 99.80% (post- acquisition) and EC Wheels India becomes the Wholly Owned Subsidiary of the Company with effect from March 2nd, 2023. The details with respect to the said acquisition as required under Regulation 30(6).
The above information is a part of company’s filings submitted to BSE.
