Steel Exchange India Limited has allotted 4,40,00,000 convertible equity warrants at an issue price of Rs. 9.45 each to non-promoters and promoter group. The allotment follows shareholder approval and regulatory clearance from stock exchanges. The warrants, convertible into equity shares within 18 months, were issued upon receipt of 25% of the total subscription amount amounting to Rs. 10,39,50,000.

Steel Exchange India Allots 4.40 Crore Convertible Equity Warrants on Preferential Basis

Steel Exchange India Limited has announced the allotment of 4,40,00,000 convertible equity warrants on a preferential basis to non-promoters and promoter group. The Board of Directors approved the allotment through circulation on April 30, 2026, following approval from shareholders at the Extra-Ordinary General Meeting held on March 30, 2026, and in-principle approval from National Stock Exchange of India Limited and BSE Limited on April 17, 2026.

Allotment Details

The warrants have been issued at an issue price of Rs. 9.45 each, including a premium of Rs. 8.45 per warrant. The company received Rs. 10,39,50,000, representing 25% of the total amount payable towards subscription of the warrants. The warrants are convertible into equivalent number of equity shares of the company with a face value of Rs. 1 per share within 18 months from the date of allotment.

Warrant Allottees

The warrants have been allotted to the following entities:

S.No. Name of the Allottee Category No. of Warrants Allotted 1 M/s Jurox Enterprises Private Limited Non-promoter 75,00,000 2 M/s Thomson & Wyman Enterprises Private Limited Non-promoter 75,00,000 3 M/s Amar Advisors Private Limited Non-promoter 20,00,000 4 M/s Venus Partners Non-promoter 40,00,000 5 M/s Satyatej Vyapaar Private Limited Promoter Group 2,30,00,000

Conversion Terms

The warrants have been allotted in electronic form and are subject to lock-in provisions as per SEBI ICDR Regulations. Warrant holders can exercise conversion into equity shares at any time during the 18-month period from April 30, 2026, in one or more tranches, upon payment of the remaining 75% of the amount payable against each warrant before the last date of conversion. The company clarified that there is no change in the paid-up equity share capital following the warrant allotment.

Steel Exchange India Limited has successfully completed the allotment of 2,82,97,870 equity shares upon conversion of warrants, marking a significant capital expansion for the integrated steel manufacturer. The allotment was approved by the Board of Directors through circulation on April 30, 2026, following the warrant holder's payment of the balance consideration.

Warrant Conversion Details

The conversion process involved Ms. Gunakala Vijayalakshmi, classified as a Non-Promoter Group investor, who exercised her rights to convert all outstanding warrants into equity shares. The warrant holder paid the balance consideration aggregating to Rs. 29,92,49,975/- (Rupee Twenty-nine crores Ninety-two Lakhs Forty-nine Thousand and Nine Hundred and Seventy-Five Only) to complete the conversion process.

Parameter Details Allottee Name Ms. Gunakala Vijayalakshmi Category Non-Promoter Group Warrants Converted 2,82,97,870 Face Value per Share Rs. 1/- Total Consideration Rs. 29,92,49,975/- Allotment Date April 30, 2026

Capital Structure Impact

The warrant conversion has resulted in a substantial increase in the company's share capital structure. Following the allotment, Steel Exchange India's issued, subscribed, and paid-up share capital increased significantly, reflecting the company's expanded equity base.

Capital Component Before Allotment After Allotment Paid-up Share Capital Rs. 1,24,72,20,542/- Rs. 1,27,55,18,412/- Total Equity Shares - 1,27,55,18,412 Face Value per Share Rs. 1/- Rs. 1/-

Regulatory Compliance and Share Rights

The allotment was conducted in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The newly allotted equity shares will be issued in dematerialized form and shall rank pari passu with the existing equity shares of the company in all respects.

The original warrant allotment took place on October 31, 2024, on a preferential basis to the Non-Promoter Group, following approval from shareholders in their Annual General Meeting held on September 27, 2024. With the complete conversion of all 2,82,97,870 warrants, no warrants remain outstanding for future conversion.

The company has informed both BSE Limited and National Stock Exchange of India Limited about this development, ensuring full regulatory compliance and transparency in the capital restructuring process.

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