Steelman Telecom's Board approved issuing 28,23,800 fully convertible warrants on a preferential basis to five investors, including promoters and Aumit Capital Advisors Limited.

Each warrant, priced at Rs. 70, converts into one equity share within 18 months.

This strategic move aims to raise Rs. 19.77 crore for the company, subject to shareholder approval.

This capital infusion will strengthen the company's financial position and support its operational growth and future initiatives, providing a boost for expansion plans.