MSP Steel & Power Limited has secured in-principle approval from both major Indian stock exchanges for a significant warrant issue. The company announced on February 28, 2026, that it has received approval to issue 2,80,00,000 warrants convertible into equity shares to promoters on a preferential basis.

Warrant Issue Details

The approved warrant issue carries specific terms and conditions that outline the structure of this corporate action:

Exchange Approvals

Both NSE and BSE have granted their in-principle approval for this warrant issue, with specific reference numbers and dates:

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. This regulation mandates companies to inform stock exchanges about material events and corporate actions that could impact investor decisions.

MSP Steel & Power has submitted the approval letters from both exchanges for record-keeping purposes. Company Secretary and Compliance Officer Shreya Kar signed the disclosure document, ensuring proper authorization and compliance with regulatory requirements.

Corporate Action Significance

This preferential warrant issue to promoters represents a structured approach to capital raising. The warrants provide promoters with the option to convert into equity shares at the predetermined price, offering flexibility in timing the actual equity infusion based on market conditions and company requirements.

MSP Steel & Power has officially completed its exit from the Corporate Debt Restructuring (CDR) framework following formal approval from consortium member banks. The company announced through a regulatory filing that it has successfully discharged all restructuring obligations and received unanimous acknowledgment from lenders for its exit from the restructuring scheme.

Consortium Approval and Formal Exit

The consortium member banks held a meeting on February 19, 2026, where they unanimously agreed and acknowledged the formal exit of MSP Steel & Power from Corporate Debt Restructuring and the Scheme for Sustainable Structuring of Stressed Assets (S4A) restructuring. The company received the minutes of this consortium meeting on February 25, 2026, confirming the completion of its exit process.

Right of Recompense Settlement

MSP Steel & Power has successfully completed full and final settlements of the approved Right of Recompense (RoR) amount to all consortium lenders in accordance with the restructuring terms. The consortium noted that the company's obligations towards the RoR stand fully discharged and all restructuring conditions have been fulfilled. This follows the company's earlier intimation dated September 15, 2025, regarding the board's in-principle approval for RoR payment.

Financial Milestone and Strategic Positioning

The successful exit from the CDR framework represents a significant milestone in the company's turnaround journey. With this development, MSP Steel & Power is positioned with greater financial flexibility and a stronger credit profile, enabling it to focus on stable and sustainable growth. The completion removes operational constraints typically associated with restructuring proceedings.

The formal exit from corporate debt restructuring marks the conclusion of MSP Steel & Power's financial rehabilitation process, positioning the company for improved operational capabilities and future growth opportunities in the steel and power sectors.