Scan Steels Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/04/2025 ,inter alia, to consider and approve We would like to inform you that, ....
SCANSTL · price
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Scan Steels Ltd has informed BSE that its Board of Directors will meet on 14th April 2025 at 11:30 A.M. in Bhubaneswar. The key agenda item is to discuss, consider and approve the issuance and allotment of 28,31,139 Optionally Convertible Redeemable Preference Shares (OCRPS) on a private placement basis. The Board will also take note of the valuation report obtained from a registered valuer for the proposed preferential issuance. Additionally, a postal ballot notice with proposed resolutions and explanatory statements will be considered for approval. The company belongs to the steel sector and has its registered office in Mumbai.
This is a capital-raising move through preference shares, which is dilutive but gives the company flexibility as these shares are optionally convertible. Shareholders should watch for the valuation report and pricing details once disclosed, as the terms will determine the level of dilution and any potential impact on share value.