MSP Steel & Power Limited has informed the Exchange about General Updates
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MSP Steel & Power has received approval from NSE and BSE for listing and trading of 46,71,272 equity shares (face value Rs. 10 each) that were issued upon conversion of Optionally Convertible Debentures allotted on a preferential basis to non-promoters. These shares were originally allotted on March 31, 2025, at an issue price of Rs. 40.50 per share (including a premium of Rs. 30.50), and will be tradable on the exchanges from June 16, 2025. The shares rank pari-passu with existing equity shares. However, the entire tranche is subject to a lock-in period until December 19, 2025, meaning these shares cannot be sold freely until that date despite being listed for trading.
Shareholders should note a dilution of about 46.7 lakh shares from the OCD conversion, though the shares remain locked-in until December 19, 2025, so there is no immediate supply overhang on the stock. Once the lock-in ends, any selling by allottees could increase float and potentially weigh on the share price.