Steel Exchange India to hold EGM on March 30, 2026, for preferential issue of warrants
Steel Exchange India Limited will hold its 1st EGM on March 30, 2026, to approve the preferential issuance of up to 36,14,60,300 convertible equity warrants at ₹9.45 each. This preferential issue aims to raise up to ₹350 crore. The meeting will be held via Video Conferencing.
The preferential issuance of warrants for up to ₹350 crore is a material event that can significantly impact the company's capital structure and future growth prospects.
The announcement details a significant preferential issuance of warrants, which is a form of equity fundraising, indicating potential for business expansion or financial strengthening.
Steel Exchange India Limited has announced the 1st Extraordinary General Meeting (EGM) for FY 2025-26, scheduled for Monday, March 30, 2026, at 11:30 a.m. IST. The meeting will be conducted through Video Conferencing (VC) / Other Audio-Visual Means (OAVM).
The primary business of the EGM is to consider and approve a special resolution for the issuance of up to 36,14,60,300 Convertible Equity Warrants to promoter group and non-promoter entities on a preferential basis. The issue price for these warrants is set at ₹9.45 each, with a total consideration not exceeding ₹350 crore. The warrants can be exercised into equity shares within 18 months from the allotment date, with a lock-in period as specified by SEBI ICDR Regulations.
A warrant subscription price of 25% of the issue price is payable at the time of subscription, with the remaining 75% payable at the time of allotment of equity shares upon exercise. The Register of Members & Share Transfer Books of the Company will remain closed from March 24, 2026, to March 30, 2026, inclusive, for the purpose of the EGM. Members holding shares as of March 23, 2026, will be entitled to vote.
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STEEL EXCHANGE INDIA LIMITED filed this with the NSE as a statutory disclosure, categorised under egm. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by STEEL EXCHANGE INDIA LIMITED. Read the original for the full detail.