MSP Steel & Power Limited has received a credit rating upgrade from Care Edge Ratings, marking a significant improvement in the company's creditworthiness assessment. The upgrade, communicated on March 19, 2026, reflects the steel manufacturer's enhanced financial position and operational performance.

Rating Upgrade Details

Care Edge Ratings has upgraded both long-term and short-term bank facilities for MSP Steel & Power. The rating agency's decision was based on the company's operational and financial performance for FY25 (Audited) and 9MFY26 (Unaudited).

Financial Implications

The upgrade in credit ratings demonstrates MSP Steel & Power's strengthened financial profile. The long-term facilities rating improvement from CARE BBB to CARE BBB+ indicates enhanced creditworthiness and lower perceived risk for lenders. Similarly, the short-term facilities upgrade from CARE A3+ to CARE A2 reflects improved liquidity position and short-term payment capabilities.

Facility Breakdown

The rated facilities comprise various banking arrangements across multiple financial institutions. The long-term facilities include term loans totaling ₹0.09 crore across nine banks and fund-based limits of ₹246.78 crore primarily structured as cash credit facilities with major banks including State Bank of India, Union Bank of India, and ICICI Bank.

The short-term facilities of ₹117.00 crore include bank guarantees worth ₹7.00 crore and letters of credit totaling ₹110.00 crore with tenors up to 12 months.

Company's Response

MSP Steel & Power has attributed the rating upgrade to its improved financial strength, consistent operational performance, and positive outlook for future growth. The company communicated this development to both the National Stock Exchange of India Limited and BSE Limited as part of its regulatory disclosure obligations under SEBI Listing Regulations.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary & Compliance Officer Shreya Kar signed the regulatory filing, ensuring proper disclosure to stakeholders and market participants.

Source: None/Company/INE752G01015/58dd2e4d-7db5-48df-b258-08bb02afe9ae.pdf

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.