Steel Exchange India Ltd Approves Issue of up to 36,14,60,300 Convertible Warrants at a Premium of Rs 8.45 Each

Steel Exchange India Ltd has approved the issue of up to 36,14,60,300 convertible warrants having a face value of Re.1 each, at an issue price of Rs 9.45 (with a premium of Re.8.45) on a preferential basis. The warrants will be issued for cash consideration and the total consideration will not exceed Rs.350,00,00,000. The warrants will be allotted to seven investors including promoters and non-promoters. The warrants will carry a right to subscribe 1 (one) Equity Share each, which may be exercised in one or more tranches during the period commencing from the date of allotment of warrants until the expiry of 18 (eighteen) months from the date of allotment. The Board also approved the Notice of 1stExtraordinary General Meeting for FY 2025-26 and matters related thereto, and the proposal for modification and/or change in the terms and conditions of the listed Non-Convertible Debentures (NCDs) issued by the Company.