MSP Steel & Power Ltd to Hold EGM on July 14 for Fund Utilization Variance

MSP Steel & Power Ltd has announced an Extraordinary General Meeting (EGM) scheduled for July 14, 2026, to be conducted via Video Conference. The primary agenda is to consider and approve a variation in the objects relating to the utilization of funds from a preferential issue. Specifically, the company seeks to reallocate ₹73.50 crore from the original plan, which included unsecured debt repayment and general corporate purposes, to facilitate a restructuring scheme. The preferential issue involved the allotment of 2,80,00,000 convertible warrants to M.A. Hire Purchase Private Limited, a promoter group entity. The meeting will allow members to vote electronically on the proposed special resolution.