MSP Steel & Power Limited has disclosed additional share acquisitions by its promoter group entities through open market purchases, following earlier substantial acquisitions that increased the group's total shareholding to 40.22%. The latest disclosures were made under SEBI's insider trading regulations, demonstrating continued confidence from promoter group entities.

Recent Promoter Group Acquisitions

Three promoter group entities have acquired additional equity shares through open market purchases between March 10-12, 2026. These acquisitions were disclosed under Regulation 7(2) read with Regulation 6(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015.

Updated Shareholding Positions

The recent acquisitions have further strengthened the promoter group entities' positions in the company. The updated shareholding positions show increased stakes for all three entities.

Previous Major Acquisition

Earlier, Saket Agrawal, acting on behalf of the promoter group, had acquired 1,40,50,200 equity shares through open market purchases between February 17, 2026, and March 12, 2026. This acquisition increased the overall promoter group shareholding from 37.74% to 40.22%.

Regulatory Compliance

All acquisitions were conducted through the National Stock Exchange of India Limited and disclosed in compliance with SEBI regulations. The company's equity share capital remains at ₹5,66,79,66,450, consisting of 56,67,96,645 equity shares of ₹10 each. The disclosures ensure transparency for all stakeholders of the company, which is listed on both NSE and BSE.

MSP Steel & Power Limited has successfully completed the allotment of 2,80,00,000 convertible warrants to its promoter entity following the board meeting held on March 14, 2026. The company received regulatory approvals and shareholder consent before executing this significant capital-raising initiative worth Rs. 98.00 crores.

Board Meeting Outcome

The Board of Directors convened on March 14, 2026, from 01:30 PM IST to 03:25 PM IST at the company's registered office in Kolkata to formalize the warrant allotment. The meeting was held pursuant to the special resolution passed by shareholders at an Extra-Ordinary General Meeting on December 12, 2025, and following in-principle approval from NSE and BSE dated February 27, 2026.

Warrant Allotment Details

The company has completed the preferential allotment of convertible warrants with specific terms and conditions as outlined below:

Financial Structure and Conversion Terms

The convertible warrants are priced at Rs. 35.00 each, comprising a face value of Rs. 10.00 and a premium of Rs. 25.00 per warrant. M.A. Hire Purchase Private Limited has paid 25% of the total consideration upfront, amounting to Rs. 8.75 per warrant or Rs. 24.50 crores in aggregate.

The warrants are convertible into equal number of equity shares upon receipt of the balance amount of Rs. 26.25 per warrant within the stipulated timeframe. Upon full conversion, the total consideration would amount to Rs. 98.00 crores, representing the complete issue size.

Regulatory Compliance and Disclosure

The allotment has been completed in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed both National Stock Exchange of India Limited and BSE Limited about the outcome, where it trades under symbol MSPL and scrip code 532650 respectively.

Company Secretary & Compliance Officer Shreya Kar has digitally signed the regulatory filing, ensuring adherence to all disclosure norms. The company has confirmed that there is no immediate change in the paid-up share capital following this warrant allotment, as conversion will occur upon receipt of the balance consideration.