MSP Steel promoter group acquires shares worth ₹9.36 crore

Promoter group entities of MSP Steel & Power collectively acquired 21,00,849 equity shares through open market purchases between June 19 and June 22, 2026. The transactions, executed on the National Stock Exchange (NSE), amounted to a total consideration of ₹9,35,58,308.26. The acquisitions were disclosed to the exchanges under Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Acquisition Details

The purchases were made by three promoter group entities: Ginny Traders Private Limited, Sampat Marketing Company Pvt Ltd, and Ilex Private Limited. The disclosures were submitted in Form C to the company's Compliance Officer, Shreya Kar, on June 23, 2026, and subsequently intimated to the exchanges on June 25, 2026.

Entity	Category	Shares Acquired	Acquisition Date	Transaction Value (₹)	Post-Acquisition Holding	% Holding
Ginny Traders Private Limited	Promoter Group	7,30,000	June 19, 2026	3,22,24,828.00	1,42,03,819	2.51%
Sampat Marketing Company Pvt Ltd	Promoter Group	12,04,000	June 19-22, 2026	5,38,72,193.20	1,62,00,642	2.86%
Ilex Private Limited	Promoter Group	1,66,849	June 22, 2026	74,61,287.06	1,83,30,349	3.24%
Total		21,00,849		9,35,58,308.26

Regulatory Compliance

The transactions were conducted as market purchases. The company confirmed that no trading in derivatives was undertaken by these promoter group entities during the relevant period. The disclosures were signed by directors Tapas Sarkar (Ginny Traders), Puran Mal Agrawal (Sampat Marketing), and Prafulla Kumar (Ilex Private Limited).

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.52%	+2.17%	+4.49%	+15.61%	+58.73%	+296.39%

MSP Steel & Power Limited has scheduled an Extra-Ordinary General Meeting (EGM) on July 14, 2026, to seek shareholder approval for varying the utilization of funds raised through a preferential issue of convertible warrants. The company proposes to redirect ₹73.50 crore, originally allocated for unsecured debt repayment, towards funding working capital requirements to support business operations and raw material procurement.

The Board of Directors, based on the recommendation of the Audit Committee, approved the proposal to vary the objects of the preferential issue. The company noted that the identified unsecured loan must be discharged earlier than the expected receipt of the balance warrant consideration, prompting the decision to repay the debt from internal accruals and banking lines instead of the warrant proceeds. The special resolution seeks authorization to utilize the unutilized balance for working capital needs.

The preferential issue involved the allotment of 2,80,00,000 convertible warrants to M.A. Hire Purchase Private Limited, a promoter group entity, on March 14, 2026. The total issue size was ₹98 crore, with ₹24.50 crore received as 25% of the issue price. The balance 75% is receivable upon the exercise of the warrants.

Sr. No.	Objects for Preferential Issue	Original Plan (₹ in crore)	Amount Utilized (₹ in crore)	Balance proposed for variation (₹ in crore)
1	Unsecured Debt Repayment	75.00	1.50	73.50
2	Payment per Restructuring Scheme	18.50	18.50	Nil
3	General Corporate Purpose	4.50	4.50	Nil

The EGM will be held through video conferencing and other audio-visual means. Remote e-voting will commence at 9:00 AM on July 11, 2026, and conclude at 5:00 PM on July 13, 2026. Shareholders recorded in the Register of Members as of July 7, 2026, are eligible to vote. M/s. Bajaj Todi & Associates has been appointed as the scrutinizer to oversee the voting process. The company has published advertisements regarding the e-voting information in the Business Standard and Arthik Lipi on June 23, 2026.