Steel Exchange India Limited has completed scheduled partial redemption and interest payments to holders of secured non-convertible debentures on April 7, 2026, as per regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Scheduled Partial Redemption Details

The company executed a scheduled partial redemption of its secured non-convertible debentures with specific parameters outlined in the regulatory filing.

The redemption was conducted as per the Amended & Restated Debenture Trust Deed, representing a face value-based partial redemption rather than quantity-based redemption.

Interest Payment Execution

Simultaneously, Steel Exchange India Limited processed monthly interest payments to debenture holders as scheduled.

Regulatory Compliance

The company submitted the payment details to both BSE Limited and National Stock Exchange of India Limited under Regulation 57(1) of SEBI regulations. The debentures trade under scrip codes 534748/960441 with scrip ID STEELXIND on the exchanges.

Both the redemption and interest payments were completed on the scheduled due date without any delays, ensuring compliance with the debenture terms and regulatory requirements. The company maintains its commitment to timely servicing of its debt obligations to debenture holders.

Steel Exchange India Limited has successfully completed its 1st Extra-Ordinary General Meeting (EGM) for FY 2025-26, with shareholders providing overwhelming approval for a significant convertible equity warrants issue. The meeting, held on March 30, 2026, through video conferencing, saw strong participation from both promoter and public shareholders.

EGM Details and Participation

The extraordinary general meeting was conducted from 11:30 AM to 12:09 PM on March 30, 2026, with a total of 60 shareholders attending through video conferencing. The meeting included 11 participants from the promoter and promoter group category and 49 from the public category. The record date for determining voting eligibility was set as March 23, 2026, covering a total of 298805 shareholders.

Warrant Issue Approval with Overwhelming Support

Shareholders approved the special resolution for issuing 36,14,60,300 convertible equity warrants with remarkable consensus. The voting results demonstrated strong confidence in the company's strategic direction, with 99.9986% of votes cast in favour of the proposal.

Financial Structure and Allotment Details

The convertible equity warrants will be issued at Rs 9.45 per warrant, including a premium of Rs 8.45 per warrant over the face value of Re. 1. The total consideration amounts to Rs 341.58 crore, to be raised through preferential allotment to seven identified entities.

Warrant Terms and Exercise Conditions

The convertible equity warrants come with specific terms designed to ensure compliance with regulatory requirements. Warrant holders must pay 25% of the issue price upfront as subscription amount, with the remaining 75% payable upon exercise. The warrants carry an 18-month exercise period from the date of allotment, after which they will lapse and the subscription amount will be forfeited.

The equity shares resulting from warrant conversion will rank pari-passu with existing shares and will be subject to lock-in provisions as specified under SEBI ICDR Regulations. The warrants are also subject to appropriate adjustments for corporate actions such as bonus issues, rights issues, or share splits during the interim period.

Regulatory Compliance and Next Steps

The resolution was passed in accordance with various regulatory frameworks including the Companies Act 2013, SEBI ICDR Regulations 2018, and SEBI Listing Regulations 2015. The scrutinizer's report, prepared by B S S & Associates, confirmed the validity of the voting process and results. The company is required to complete the warrant allotment within 15 days of the resolution, subject to any pending regulatory approvals.