MSP Steel & Power 's promoter group has made substantial open market acquisitions, purchasing 1,41,45,082 equity shares between November and December 2025. The acquisition represents a significant 2.50% increase in the promoter group's shareholding, taking their total stake from 35.24% to 37.74%.

Major Shareholding Enhancement

The promoter group, led by Saket Agrawal, executed the share purchases through open market transactions spanning from November 20th to December 30th, 2025. The acquisition demonstrates strong confidence from the promoter group in the company's growth prospects and operational performance.

Shareholding Structure Analysis

The substantial acquisition has significantly altered the promoter group's ownership structure in MSP Steel & Power. The transaction involved multiple entities acting in concert with the primary promoter.

Persons Acting in Concert

The acquisition involved coordination among several promoter group entities acting in concert with Saket Agrawal. The key entities participating in this substantial acquisition include Shree Vinay Finvest Private Limited, Jaik Leasing & Commercial Investment Private Limited, Jagran Vyapaar Private Limited, and Ilex Private Limited.

Regulatory Compliance and Disclosure

MSP Steel & Power submitted the mandatory disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, on January 3rd, 2026. The disclosure was filed with both NSE and BSE, ensuring full regulatory compliance for the substantial acquisition exceeding 2% of the company's total share capital.

Market Implications

The substantial open market purchases by the promoter group typically signal strong management confidence in the company's undervaluation or robust fundamentals. This acquisition of over 1.41 crore shares may positively influence investor sentiment and impact the stock's trading dynamics in the steel sector, particularly given the increased promoter commitment to the company's future.

MSP Steel & Power Limited successfully concluded its Extra-Ordinary General Meeting (EGM) on December 12, 2025, with shareholders overwhelmingly approving the special resolution for convertible warrant fundraising. The company has now submitted the voting results to stock exchanges, marking the completion of the regulatory approval process for its preferential allotment plan.

Voting Results and Shareholder Response

The EGM, conducted through video conferencing at 3:00 PM IST, witnessed strong shareholder participation and support. Ms. Swati Bajaj of M/s. Bajaj Todi & Associates served as the scrutinizer for the voting process.

The remote e-voting facility remained open from December 9, 2025 (9:00 AM) to December 11, 2025 (5:00 PM IST), with the cut-off date for eligible voting set as December 5, 2025.

Fund Utilization Strategy

The approved convertible warrant issue will raise funds through preferential allotment on a private placement basis. The company had earlier issued a corrigendum on December 10, 2025, clarifying the fund utilization plan with specific allocations and timelines.

The unsecured debt repayment involves full or partial settlement of identified loans, while the restructuring scheme payment includes Right to Recompense (ROR) to enable the company's exit from the restructuring framework.

Warrant Allotment and Shareholding Impact

M.A. Hire Purchase Private Limited has been identified as the proposed allottee for the 2,80,00,000 convertible warrants. The ultimate beneficial owners include Mr. Saket Agrawal, Mr. Suresh Kumar Agrawal, and Mr. Pranay Agarwal from the promoter group.

The conversion of warrants will increase the promoter group's stake from 22.87% to 68.87%.

Implementation and Compliance

The company expects to receive the entire issue proceeds within 18 months from the warrant allotment date, in compliance with SEBI (ICDR) Regulations Chapter V. For general corporate purposes, funds will be utilized for modernization and maintenance of plant and machinery, including purchase, refurbishment, replacement, and repairs.

Pending deployment, unutilized proceeds will be invested in permissible short-term investments including government securities, money market instruments, and deposits with scheduled commercial banks. The voting results and scrutinizer's report are available on the company's website at www.mspsteel.com .