Aanchal Ispat Limited Schedules EGM for ₹10 Crore Capital Raising Through QIP

Aanchal Ispat Limited has issued a formal notice to BSE Limited regarding an Extraordinary General Meeting (EGM) scheduled to approve a significant capital raising initiative. The steel manufacturing company seeks to strengthen its financial position through multiple funding avenues while adhering to regulatory compliance requirements.

Meeting Details and Schedule

The EGM will be held on Saturday, 23rd May 2026 at 1:30 PM through Video Conference (VC) and Other Audio Visual Means (OAVM). This virtual format aligns with relevant circulars issued by the Ministry of Corporate Affairs and Securities and Exchange Board of India.

Parameter Details Meeting Date 23rd May 2026 Meeting Time 1:30 PM Format Video Conference/OAVM Record Date 24th April 2026 Book Closure Period 18th May to 23rd May 2026

The company's Register of Members and Share Transfer Books will remain closed from Monday, 18th May 2026 to Saturday, 23rd May 2026 (both days inclusive) for EGM purposes, as per Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Capital Raising Proposal

The primary agenda involves approving a special resolution for capital raising up to ₹10 crores in one or more tranches. The Board of Directors, in their meeting held on 27th April 2026, recommended this proposal to fulfill the company's strategic objectives.

Funding Method Details Maximum Amount ₹10 crores Primary Mode Qualified Institutions Placement (QIP) Alternative Modes Private placement, equity-linked securities Tranches One or more as deemed appropriate Target Investors Qualified institutional buyers (QIBs)

The securities may include equity shares, convertible securities, or instruments linked to equity shares. The company plans to issue these through permissible modes including private placement and QIP to qualified institutional buyers as defined in SEBI ICDR Regulations.

Fund Utilization and Objectives

The net proceeds from the capital raising will serve multiple strategic purposes:

Meeting payment obligations under the approved Resolution Plan

Settlement of creditor dues

General corporate purposes (limited to 25% of total funds raised)

Strengthening the company's balance sheet

The Board retains discretion to determine specific terms, conditions, pricing, and timing based on prevailing market conditions and regulatory requirements.

E-Voting and Participation Details

Shareholders can participate through remote e-voting facility provided by Purva Sharegistry (India) Private Limited. The e-voting period commences on Wednesday, 20th May 2026 at 09:00 AM (IST) and concludes on Friday, 22nd May 2026 at 05:00 PM (IST).

E-Voting Parameter Details Start Date/Time 20th May 2026, 09:00 AM IST End Date/Time 22nd May 2026, 05:00 PM IST Cut-off Date 16th May 2026 Service Provider Purva Sharegistry (India) Private Limited Scrutinizer M/s Manisha Saraf & Associates

M/s Manisha Saraf & Associates, Practicing Company Secretaries, have been appointed as Scrutinizer to conduct the remote e-voting process transparently. Shareholders holding shares in physical or dematerialized form as on the cut-off date of Saturday, 16th May 2026 will be entitled to participate in e-voting.

Regulatory Compliance and Key Terms

The proposed QIP will comply with Chapter VI of SEBI ICDR Regulations with specific conditions:

No single allottee shall receive more than 50% of the issue size

Minimum 10% allocation to mutual funds (if they subscribe)

Securities will be locked-in for one year from allotment date

No allotment to promoters or related persons

Allotment to be completed within 365 days of resolution approval

The pricing will follow SEBI ICDR Regulations with the Board having discretion to offer up to 5% discount on the floor price. All equity shares issued will rank pari passu with existing shares, including dividend entitlements.

Aanchal Ispat Limited has informed BSE Limited that it does not qualify as a Large Corporate under SEBI's regulatory framework for debt securities issuance, exempting the company from specific compliance requirements.

Regulatory Compliance Status

The company submitted its annual disclosure on April 10, 2026, pursuant to multiple SEBI circulars governing fund raising by large corporates through debt securities. The disclosure was made in compliance with SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, along with related operational circulars from 2021 and 2018.

Parameter Details Assessment Date March 31, 2026 Large Corporate Status Not Applicable Debt Framework Applicability Exempted Disclosure Requirement Not Required

SEBI Framework Exemption

As of March 31, 2026, Aanchal Ispat Limited confirmed it does not meet the criteria specified under SEBI's Large Corporate classification. This determination means the framework for fund raising by issuance of debt securities by large corporates is not applicable to the company's operations.

The exemption relieves Aanchal Ispat Limited from filing both initial and annual disclosures typically required under the Large Corporate debt securities framework. Company Secretary and Compliance Officer Puspendu Kayal signed the disclosure document, confirming the company's regulatory status.

Company Information

Aanchal Ispat Limited operates as an ISO 9001:2015 certified company in the steel sector. The company maintains its registered office at National Highway No.6, Chamrail, Howrah 711114, and trades on BSE with scrip code 538812. The disclosure ensures transparency regarding the company's compliance obligations under current SEBI regulations governing corporate debt issuance.

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