Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations) (as amended) read with Schedule III of the SEBI Listing Regulations, this is to inform that the Company has received approval Letter from Stock Exchange(s) for In-principle approval. Details of the Letters are mentioned herein below:1. National Stock Exchange Limited (NSE)- For issue of 2,80,00,000 Equity shares of Rs. 10/- each issued pursuant to conversion of warrants on a preferential basis bearing Ref No. NSE/LIST/51954 dated February 27, 2026.2. BSE Limited For issue of 2,80,00,000 Warrants Convertible into 2,80,00,000 Equity shares of Rs. 10/ each at a price not less than Rs. 35/- to promoter on a preferential basis bearing Ref No. LOD/PREF/GB/FIP/1785/2025-26 dated February 27, 2026.We are enclosing herewith the Listing Approval Letters from NSE and BSE for your kind perusal and record.You are requested to please take the same in your record.
MSPL · price
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MSP Steel & Power has received in-principle approval from both NSE and BSE for issuing 2,80,00,000 warrants, each convertible into one equity share of Rs. 10 face value, to the promoter on a preferential basis. The minimum conversion price has been set at Rs. 35 per share. The NSE approval (dated February 27, 2026) covers the equity shares arising on conversion of warrants, while the BSE approval (same date) covers the warrants themselves. This is a regulatory clearance from stock exchanges, and the actual allotment of warrants to the promoter would follow separately.
Signals promoter confidence and commitment to the company, but will lead to equity dilution of up to 2.8 crore shares once warrants are converted. For existing shareholders, this means a potential increase in share count, though the Rs. 35 floor price provides a pricing benchmark.