VISA Steel Limited has submitted its quarterly compliance certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The filing demonstrates the company's adherence to regulatory requirements governing dematerialization processes and depositories operations.

Regulatory Compliance Filing

The compliance certificate was filed pursuant to Regulation 74(5) of SEBI Regulations on April 10, 2026, with both major stock exchanges where the company's shares are listed. The submission was made by Company Secretary and Compliance Officer Amisha Chaturvedi Khanna.

Certificate Confirmation Details

KFin Technologies Limited, serving as the company's Registrar and Share Transfer Agent, issued the compliance certificate confirming adherence to dematerialization requirements. The certificate validates that during the specified quarter, all regulatory obligations were met within prescribed timelines.

Key Compliance Areas Covered

The certificate confirms compliance across several critical operational areas:

• Demat Request Processing: Confirmation and processing of dematerialization requests within 15 days of receipt from depository participants
• Securities Listing Verification: Confirmation to depositories regarding listing status on relevant stock exchanges
• Certificate Management: Proper mutilation and cancellation of physical security certificates after verification
• Register Updates: Substitution of depository names in the register of members for approved demat requests

Company Information

Registrar and Transfer Agent Details

KFin Technologies Limited operates from multiple locations to serve as the company's share transfer agent. The certificate was signed by D Suresh Babu, Sr. Manager at KFin Technologies Limited, confirming the company's compliance status for the quarter.

This regulatory filing represents part of VISA Steel Limited's ongoing commitment to maintaining transparency and compliance with SEBI regulations governing depositories and participant operations.

VISA Steel Limited has successfully completed the allotment of 1,65,00,000 equity shares to VISA Industries Limited through warrant conversion. The transaction involved receipt of Rs. 49,50,00,000 as balance subscription amount, representing 75% of the original warrant issue price.

Warrant Conversion Details

The Preferential Issue Committee of the Board of Directors approved the allotment following the conversion of warrants at Rs. 30.00 per warrant as balance consideration. The original warrant issue price was Rs. 40.00 per warrant, with 25% paid upfront and the remaining 75% paid upon conversion. The balance amount of Rs. 49,50,00,000 was received on April 4, 2026, with the allotment approved on April 6, 2026.

Share Capital Impact

The allotment has resulted in a significant increase in the company's paid-up share capital. Following this transaction, the issued and paid-up share capital stands enhanced from the previous level, with all newly allotted equity shares ranking pari-passu with existing equity shares.

Warrant Exercise Timeline

The warrant conversion process began with the initial allotment of 5,00,00,000 fully convertible warrants to VISA Industries Limited. The conversion has been executed in phases, with previous conversions already completed and outstanding warrants remaining for future exercise.

Regulatory Compliance

The allotment was conducted in accordance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company received in-principle approvals from both National Stock Exchange of India Limited and BSE Limited on November 24, 2025. The transaction was also approved through a Special Resolution passed by members at the Extra-Ordinary General Meeting held on November 2, 2025.

The Preferential Issue Committee meeting was conducted from 1630 hours to 1710 hours on April 6, 2026, to formalize the allotment process. The company has made the required disclosures under SEBI Master Circular dated November 11, 2024, regarding the issue of securities on a preferential basis.