News Corporate Actions MSP Steel & Power Board Meeting Scheduled for March 14, 2026 to Consider Convertible Warrant AllotmentMSP Steel & Power Board Meeting Scheduled for March 14, 2026 to Consider Convertible Warrant Allotment
MSP Steel & Power Limited has scheduled a board meeting for March 14, 2026, to consider the preferential allotment of 2,80,00,000 convertible warrants at Rs. 35/- each to promoter entity M.A. Hire Purchase Pvt. Ltd. The warrants include a premium of Rs. 25/- each, with an upfront payment requirement of Rs. 24,50,00,000 representing 25% of the warrant exercise price. The meeting will be held at the company's registered office in Kolkata, with outcomes to be communicated to stock exchanges as per SEBI regulations.
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MSP Steel & Power Limited has announced that its Board of Directors will convene on March 14, 2026, to consider a significant preferential allotment of convertible warrants. The meeting, scheduled to be held at the company's registered office in Kolkata, will address key capital-raising initiatives as part of the company's strategic financial planning.
Board Meeting Details
The board meeting is scheduled for Saturday, March 14, 2026, at the company's registered office located at South City Business Park, 10th Floor, 770 Anandapur, EM Bypass, E.K.T, Kolkata, West Bengal. The meeting has been convened in compliance with Regulation 29(1) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
Convertible Warrant Allotment Proposal
The primary agenda item involves the proposed issuance and allotment of convertible warrants to a promoter entity. The board will consider approving the allotment of these securities as part of the company's capital structure optimization.
| Parameter: | Details |
|---|---|
| Total Warrants: | 2,80,00,000 (Two Crores Eighty Lakhs) |
| Warrant Price: | Rs. 35/- each |
| Premium Component: | Rs. 25/- each |
| Allottee: | M.A. Hire Purchase Pvt. Ltd. (Promoter Category) |
| Upfront Payment: | Rs. 24,50,00,000 (25% of Warrant Exercise Price) |
Financial Implications
The convertible warrants are priced at Rs. 35/- each, which includes a premium of Rs. 25/- per warrant. M.A. Hire Purchase Pvt. Ltd., classified under the promoter category, will be required to pay 25% of the warrant exercise price upfront, amounting to Rs. 24,50,00,000. This upfront payment structure aligns with regulatory requirements for warrant issuances and provides immediate capital infusion to the company.
Regulatory Compliance
The company has duly informed both the National Stock Exchange of India Limited and BSE Limited about the upcoming board meeting. MSP Steel & Power Limited trades under the symbol MSPL on NSE and scrip code 532650 on BSE. The company has committed to sharing the outcome of the board meeting with stock exchanges in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Additional Information
The board meeting agenda also includes provisions for considering any other business matters with the Chairman's consent. The company has made this intimation available on its official website at www.mspsteel.com under the Investors section, ensuring transparency and accessibility for all stakeholders. Company Secretary & Compliance Officer Shreya Kar has signed the regulatory filing, confirming the company's adherence to disclosure norms.
Historical Stock Returns for MSP Steel & Power
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.70% | +1.53% | 0.0% | -2.24% | +14.19% | +304.97% |
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