MSP Steel Completes Rs. 98 Crore Convertible Warrant Allotment to Promoter

MSP Steel & Power Limited has successfully completed the allotment of 2,80,00,000 convertible warrants to its promoter entity following the board meeting held on March 14, 2026. The company received regulatory approvals and shareholder consent before executing this significant capital-raising initiative worth Rs. 98.00 crores. Board Meeting Outcome The Board of Directors convened on March 14, 2026, from 01:30 PM IST to 03:25 PM IST at the company's registered office in Kolkata to formalize the warrant allotment. The meeting was held pursuant to the special resolution passed by shareholders at an Extra-Ordinary General Meeting on December 12, 2025, and following in-principle approval from NSE and BSE dated February 27, 2026. Warrant Allotment Details The company has completed the preferential allotment of convertible warrants with specific terms and conditions as outlined below: Parameter: Details Total Warrants Allotted: 2,80,00,000 (Two Crores Eighty Lakhs) Face Value: Rs. 10.00 each Issue Price: Rs. 35.00 each Premium Component: Rs. 25.00 per warrant Allottee: M.A. Hire Purchase Private Limited Category: Promoter Group Upfront Payment Received: Rs. 24,50,00,000 (25% of issue price) Financial Structure and Conversion Terms The convertible warrants are priced at Rs. 35.00 each, comprising a face value of Rs. 10.00 and a premium of Rs. 25.00 per warrant. M.A. Hire Purchase Private Limited has paid 25% of the total consideration upfront, amounting to Rs. 8.75 per warrant or Rs. 24.50 crores in aggregate. The warrants are convertible into equal number of equity shares upon receipt of the balance amount of Rs. 26.25 per warrant within the stipulated timeframe. Upon full conversion, the total consideration would amount to Rs. 98.00 crores, representing the complete issue size. Regulatory Compliance and Disclosure The allotment has been completed in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed both National Stock Exchange of India Limited and BSE Limited about the outcome, where it trades under symbol MSPL and scrip code 532650 respectively. Company Secretary & Compliance Officer Shreya Kar has digitally signed the regulatory filing, ensuring adherence to all disclosure norms. The company has confirmed that there is no immediate change in the paid-up share capital following this warrant allotment, as conversion will occur upon receipt of the balance consideration. MSP Steel & Power Limited has announced that its promoter group entities acquired approximately 26.53 lakh equity shares through open market purchases during March 5-9, 2026. This latest acquisition represents a continuation of the systematic investment strategy by promoter group entities, further strengthening their stake in the company. Latest Share Acquisition Details The promoter group entities executed the purchase of approximately 26.53 lakh shares in the open market during the specified period. The acquisition demonstrates the promoter group's continued confidence in the company's business prospects and growth potential. Parameter: Details Shares Acquired: Approximately 26.53 lakh Purchase Period: March 5-9, 2026 Transaction Type: Open Market Purchase Acquiring Entities: Promoter Group Entities Previous Acquisition Activity This latest purchase follows earlier acquisitions by promoter group entities, including the February 26-27, 2026 transaction where three entities acquired 18.57 lakh equity shares worth ₹5.95 crore. The consistent purchasing pattern indicates a strategic approach to increasing promoter group holdings. Period: Shares Acquired Transaction Value February 26-27, 2026: 18.57 lakh ₹5.95 crore March 5-9, 2026: ~26.53 lakh Not disclosed Market Confidence Signal The continued open market purchases by promoter group entities signal strong confidence in MSP Steel & Power's operational performance and future growth trajectory. Such systematic acquisitions typically reflect the management's positive outlook on the company's business fundamentals and market positioning in the steel sector. Regulatory Compliance All share acquisitions are being conducted in compliance with applicable securities regulations and disclosure requirements. The company continues to maintain transparency in reporting promoter group transactions to relevant stock exchanges as per regulatory guidelines. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. 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