MSP Steel & Power to raise ₹100 Crore via Preferential Issue of Warrants
MSP Steel & Power Limited will hold an EGM on December 12, 2025, to approve a preferential issue of convertible warrants. The company aims to raise ₹100 crore, allocated for debt repayment, restructuring scheme payments, and general corporate purposes. M.A. Hire Purchase Private Limited will receive 2.8 crore warrants, increasing promoter shareholding.
The preferential issue and fund utilization plan are significant for the company's financial restructuring and operational upgrades, impacting its financial health and future prospects.
The company is raising funds through a preferential issue, which will be used for debt repayment and restructuring, indicating a positive step towards financial health and operational improvement.
MSP Steel & Power Limited (MSPL) has issued a corrigendum to its Extra-Ordinary General Meeting (EGM) notice, scheduled for December 12, 2025. The EGM will discuss modifications to a Special Resolution concerning a preferential allotment of convertible warrants. The company plans to raise ₹100 crore through this private placement.
The funds raised will be utilized for several purposes: ₹75 crore for unsecured debt repayment, ₹18.50 crore for payments related to the company's restructuring scheme to exit the framework, and ₹4.50 crore for general corporate purposes, including modernization and maintenance of plant and machinery. The utilization of these funds is planned within 12 to 18 months from the receipt of funds, depending on the specific purpose.
The preferential issue involves the allotment of 2,80,00,000 warrants to M.A. Hire Purchase Private Limited, a promoter group entity. Post-allotment and conversion, the promoter group's shareholding is expected to increase from 2.287% to 6.887%. The EGM will seek member approval for this preferential issue and the associated special resolution. The corrigendum clarifies details regarding the objects of the issue and the shareholding post-conversion, forming an integral part of the original EGM notice.
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MSP Steel & Power Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by MSP Steel & Power Limited. Read the original for the full detail.