Deals28 Feb 2026, 03:41 pm
MSP Steel & Power Ltd Receives In-Principle Approval for Warrant Conversion into Equity Shares
AI Summary
MSP Steel & Power Ltd has received an in-principle approval from the National Stock Exchange Limited and BSE Limited for the conversion of warrants into equity shares. This approval allows the company to issue 2,80,00,000 equity shares of Rs. 10/- each to promoters on a preferential basis. The conversion price is not less than Rs. 35/- per equity share. This decision is in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Schedule Ill of the SEBI Listing Regulations.
Key Highlights
- MSP Steel & Power Ltd receives in-principle approval from National Stock Exchange Limited and BSE Limited for warrant conversion into equity shares.
- The company will issue 2,80,00,000 equity shares of Rs. 10/- each to promoters on a preferential basis.
- The conversion price is set at not less than Rs. 35/- per equity share.
- This decision is in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Schedule Ill of the SEBI Listing Regulations.
- The approval letters from NSE and BSE have been received and are enclosed for record.