Steel City Securities declares interim dividend of 10% and approves director appointments.
Steel City Securities declared a 10% interim dividend for FY27, with September 11, 2026, as the record date. Sri. Narendra Kumar Boyana was approved as a Non-Executive Independent Director, effective September 18, 2026. The company also made Steel City Infotech a wholly-owned subsidiary and plans to enhance its overdraft facility.
The interim dividend and director appointments are positive but do not represent a significant immediate financial impact. The planned increase in overdraft facility and acquisition of a subsidiary could have future impacts.
The company declared an interim dividend and approved the appointment of new directors, which are positive developments for shareholders.
Steel City Securities Limited announced the outcome of its Board Meeting held on August 29, 2026. The Board declared an interim dividend of 10% (Re. 1 per equity share) for the Financial Year 2026-27. Friday, September 11, 2026, has been fixed as the record date for determining shareholder eligibility for this dividend.
Additionally, the Board approved the appointment of Sri. Narendra Kumar Boyana as a Non-Executive Independent Director, subject to stock exchange and shareholder approval. His appointment is proposed for a term of five consecutive years, effective September 18, 2026. The company also approved the re-appointment of Sri. Emmidisetty Sridhar as a Non-Executive Independent Director for a second term of five consecutive years, commencing from September 18, 2026.
The company has also taken note of the acquisition of the remaining 12,500 equity shares of Steel City Infotech Private Limited for ₹4,84,125, making it a Wholly Owned Subsidiary effective August 27, 2026. Steel City Infotech Private Limited will undertake the business of Insurance Broking and allied activities, subject to regulatory approvals.
Furthermore, the Board authorized directors to seek enhancement of the existing Overdraft facility from ₹7.50 Crores to ₹30.00 Crores from Karur Vysya Bank Limited. The Board meeting commenced at 11:15 AM and concluded at 1:15 PM.
A plain-language summary of a public exchange filing by Steel City Securities Limited. Read the original for the full detail.