MSP Steel & Power 's promoter group has purchased company shares through open market transactions, demonstrating confidence in the steel company's prospects.

Promoter Group Share Acquisition

The promoter group of MSP Steel & Power has executed share purchases in the open market, demonstrating their commitment to the company's growth prospects. Such acquisitions by promoter groups are typically viewed as positive indicators of management confidence in the company's operational performance and future potential.

Market Implications

Open market purchases by promoter groups often reflect their belief in the company's undervaluation or strong fundamentals. These transactions can influence investor sentiment and may impact the stock's trading dynamics in the market.

Company Profile

MSP Steel & Power operates in the steel sector and is classified as a small-cap company. The company's shares are actively traded on major stock exchanges, providing liquidity for investors interested in the steel industry segment.

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 .