Merger2 Sept 2026, 09:00 pm
MSP Steel Board Approves Scheme of Arrangement for Demerger
AI Summary
MSP Steel & Power Ltd announced that its Board of Directors has approved a draft Scheme of Arrangement for the demerger of MSP Sponge Iron Limited's manufacturing business into MSP Steel. The scheme is subject to regulatory and other approvals. The Board also approved the Board's Report for FY2025-26 and the notice for the Annual General Meeting scheduled for September 30, 2026. Additionally, M/s. S K Agrawal and Co Chartered Accountants LLP were appointed as Internal Auditors, and Mr. Sambhu Banerjee was re-appointed as Cost Auditor for FY2026-2027.
Key Highlights
- Board approved draft Scheme of Arrangement for demerger.
- Scheme involves demerging MSP Sponge Iron's business into MSP Steel.
- AGM scheduled for September 30, 2026, via video conferencing.
- Internal and Cost Auditors appointed/re-appointed for FY2026-27.
- Scheme is a related party transaction on an arm's length basis.
Price Impact
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