VISA Steel Limited , a player in the steel industry, has allotted 5,00,00,000 fully convertible warrants to VISA Industries Limited, a member of the promoter group, on a preferential basis.

Key Details of the Allotment

• Number of Warrants: 5,00,00,000 fully convertible warrants
• Allottee: VISA Industries Limited (promoter group member)
• Price: Rs. 40.00 per warrant
• Total Consideration: Rs. 200.00 crore
• Conversion Period: Within 18 months
• Conversion Terms: Upon payment of remaining 75% consideration

Implications and Next Steps

This allotment follows the approval granted by shareholders at an Extra-Ordinary General Meeting (EOGM) held on November 2, 2025. The warrants provide VISA Industries Limited with the option to convert them into equity shares within an 18-month period, subject to the payment of the remaining 75% of the consideration.

There is no immediate change to VISA Steel's paid-up share capital as a result of this allotment. The potential conversion of these warrants in the future could lead to an increase in the promoter group's stake in the company.

Previous Voting Results

The shareholder approval for this issuance was evidenced by the voting results from the EOGM:

Potential Impact

This Rs. 200.00 crore allotment could potentially strengthen VISA Steel's capital base. Investors and market watchers may observe how VISA Steel utilizes this potential capital infusion and its impact on the company's future strategic decisions.

As the steel industry continues to evolve, this move by VISA Steel could be seen as a step to potentially enhance its market position and financial flexibility. Stakeholders may monitor the company's performance in the coming quarters to assess the impact of this corporate action.

VISA Steel Ltd, a prominent player in the steel industry, has achieved a significant milestone in its operational journey. The company recently announced that it has received the Consent to Operate from the State Pollution Control Board, Odisha, marking a crucial step in its regulatory compliance efforts.

Key Highlights

• VISA Steel Ltd obtained the Consent to Operate on September 6.
• The consent was granted through an order issued by the State Pollution Control Board, Odisha.
• This development follows a previous disclosure made by the company on July 11.

Regulatory Compliance

The Consent to Operate is a critical permission granted by environmental regulatory authorities, allowing companies to conduct their operations within prescribed environmental norms. For VISA Steel, this consent signifies that the company has met the necessary environmental standards set by the Odisha State Pollution Control Board.

Company's Disclosure

In compliance with regulatory requirements, specifically Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, VISA Steel promptly informed the stock exchanges about this development. The disclosure was made to both the BSE Limited and the National Stock Exchange of India Limited, where the company's shares are listed.

Impact on Operations

While the specific details of the Consent to Operate are not disclosed, this approval is typically crucial for industrial operations. It allows VISA Steel to continue its manufacturing activities at its plant, ensuring compliance with environmental regulations.

About VISA Steel Ltd

VISA Steel Ltd is based in Odisha, India. The company's plant is located at the Kalinganagar Industrial Complex in Jakhapura, Jajpur district, Odisha. As a steel manufacturer, environmental compliance is a critical aspect of its operations, making this recent development significant for the company's ongoing activities.

This latest regulatory approval underscores VISA Steel's commitment to operating within the framework of environmental regulations, an increasingly important factor in the steel industry's sustainable growth narrative.