MSP Steel & Power: No Deviation in Preferential Issue Fund Use

MSP Steel & Power Ltd has filed its Statement of Deviation & Variation for the quarter ended June 30, 2026. The company reported no deviation or variation in the utilization of funds raised through a Preferential Issue of Convertible Warrants on March 14, 2026. The total amount raised was ₹24.50 crores, representing 25% of the total consideration. The funds were intended for unsecured debt repayment and general corporate purposes, including modernization and maintenance of plant and machinery. The company confirmed no outstanding defaults on loans or debt securities for the said quarter. The Board of Directors also approved the unaudited standalone and consolidated financial results for the first quarter ended June 30, 2026.