MSP Steel & Power Limited shareholders have approved a variation in the utilization of the balance proceeds receivable upon the exercise of preferential warrants allotted to a Promoter Group entity. The resolution was passed as a special resolution with 99.996% of votes in favour during an Extra-Ordinary General Meeting (EGM) held on July 14, 2026, through video conferencing and other audio-visual means. The company stated that the proposed variation is in the best interests of the company and its shareholders.

The EGM was convened to seek shareholder approval for the change in the objects relating to the utilization of funds from the Preferential Issue. The Audit Committee evaluated the proposal before the Board of Directors granted its approval. Management assured members that the variation complies with all applicable laws, rules, and regulations and will not affect the rights of shareholders.

Meeting Proceedings

The meeting was chaired by Mr. Saket Agrawal, Managing Director & Executive Director of the company. A total of 44 members attended the meeting. The proceedings included a presentation by Mr. Kamal Kumar Jain, Chief Financial Officer, who explained the rationale behind the variation in fund utilization. A Question-and-Answer session was held where the Managing Director responded to shareholder queries.

Directors and Key Personnel Present

Voting Results

Ms. Swati Bajaj of M/s. Bajaj Todi & Associates, Practicing Company Secretaries, served as the Scrutinizer for the voting process. The remote e-voting facility was available from July 11, 2026, to July 13, 2026, and was also open during the EGM and for 15 minutes after its conclusion. A total of 102 valid folios cast votes, representing 33,10,42,653 shares.

MSP Steel & Power Limited confirmed that its statutory auditors issued an unmodified opinion on the standalone and consolidated financial statements for the financial year ended March 31, 2026. The company submitted the required declaration under Regulation 33(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations to the National Stock Exchange of India following an oversight during the initial filing of its audited financial results on May 30, 2026.

The clarification, addressed to the Listing Department of the National Stock Exchange of India Audit, stated that the declaration regarding the audit report was inadvertently not submitted along with the financial results. The company affirmed that the omission was unintentional and that the statutory auditors had provided an unmodified opinion for the relevant financial period.

Regulatory Submission Details

The submission included the declaration under Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The document was signed by Saket Agrawal, Managing Director, and Shreya Kar, Company Secretary & Compliance Officer, on behalf of MSP Steel & Power .

The company requested the exchange to take the declaration on record. The confirmation covers both standalone and consolidated annual audited financial results for FY26.