MSP Steel EGM approves change in use of preferential issue funds
MSPL · price
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MSP Steel & Power held an Extraordinary General Meeting on July 14, 2026, via video conferencing. Shareholders passed a special resolution allowing the company to vary the stated objects for utilization of funds raised through a prior preferential issue. Out of 33.10 crore shares that voted across 102 folios, about 99.996 percent were in favor and 0.004 percent against. Scrutinizer Swati Bajaj of Bajaj Todi and Associates confirmed the result. The company must now deploy those proceeds toward the newly approved objectives.
Lets company redirect preferential issue proceeds to new purposes approved by an overwhelming shareholder vote.