Business Update16 Sept 2024, 11:19 pm
MSP Steel & Power Ltd. Allots 9,60,99,913 Equity Shares at Rs. 35 Each, Increasing Capital to Rs. 481.51 Crores
AI Summary
MSP Steel & Power Ltd. has decided to allot 9,60,99,913 equity shares to allottees, categorized as 'public', at a price of Rs. 35 per share, including a premium of Rs. 25 per share. This decision was made during a Board meeting held on September 16, 2024, in accordance with the SEBI (Issue of Capital & Disclosures Requirement) Regulation, 2018. The conversion notice was received on September 12, 2024. The allotment will increase the company's issued and paid-up capital to Rs. 481.51 crores.
Key Highlights
- MSP Steel & Power Ltd. allots 9,60,99,913 equity shares on a preferential basis.
- The allotment is made at a price of Rs. 35 per share, including a premium of Rs. 25 per share.
- The decision is made in accordance with the SEBI (Issue of Capital & Disclosures Requirement) Regulation, 2018.
- The conversion notice was received on September 12, 2024.
- The issued and paid-up capital of the company will increase to Rs. 481.51 crores.