New Delhi, July 09: P S Raj Steels Limited, a leading manufacturer of stainless steel pipes and tubes, today announced that its shareholders have approved the resolutions placed before the Extra-Ordinary General Meeting held on Tuesday, 7 July 2026, at the Company’s Corporate office situated at Plot No. 51, Block A, IDC, Hisar – 125001, Haryana.
The shareholders approved the sub–division of each fully paid-up equity share having a face value of ₹10 into five fully paid-up equity shares having a face value of ₹2 each. The Ordinary Resolutions were passed with 100.00% of the valid votes cast in favour through remote e-voting, as certified by the Scrutinizer, Akanksha Chugh & Associates, Practicing Chartered Accountant.
The shareholders also approved the consequential alteration of Clause V of the Memorandum of Association. The aggregate authorised share capital remains Rs. 8,00,00,000/-, now divided into 4,00,00,000 equity shares of Rs. 2 each. The Board will determine and announce the record date separately, subject to completion of statutory and regulatory requirements.
The sub–division is intended to enhance liquidity in the Company’s equity shares and make them more affordable, thereby encouraging wider participation by retail investors.
Related Party Transactions Approval
The shareholders further approved the material related party transactions proposed to be entered into during FY 2026-27 with Sheela Stainless Private Limited (up to Rs. 3,344 lakhs) and Steelmint Industries Private Limited (up to Rs. 3,600 lakhs), in the ordinary course of business and on an arm’s length basis.
Commenting on the development, Deepak Kumar, Managing Director, P S Raj Steels Limited, said, “The shareholder approval for the stock split is an important step towards improving liquidity and making the Company’s shares more accessible to a wider investor base. We remain focused on strengthening our operations, improving efficiency and creating sustainable long-term value for all stakeholders. Our latest financial performance reflects this commitment, supported by healthy operational execution and continued business momentum during FY2025–26.”