STEELXIND Allots 4.4 Cr Warrants worth ₹41.6 Cr to Non-Promoters & Promoter Group
Steel Exchange India Limited approved the allotment of 4.4 crore convertible equity warrants to non-promoters and promoter group. The company received ₹10.4 crore (25% of subscription). Warrants are convertible into equity shares at Rs. 9.45 each within 18 months from April 30, 2026.
The fundraising through warrant allotment can strengthen the company's financial position and potentially fund future expansion, impacting its operational capacity and market presence.
The allotment of convertible warrants to both non-promoters and the promoter group indicates a fundraising activity that can support the company's growth and operations.
Steel Exchange India Limited has announced the allotment of 4,40,00,000 Convertible Equity Warrants to Non-Promoters and the Promoter Group. This decision was approved by the Board of Directors on Thursday, April 30, 2026, following shareholder approval at the Extra-Ordinary General Meeting held on March 30, 2026.
The company has received ₹10,39,50,000 (Rupees Ten Crores Thirty-nine Lakhs Fifty Thousand Only), which is 25% of the total subscription amount. The Warrants are convertible into an equivalent number of Equity Shares of face value Rs. 1/- each within 18 months from the allotment date of April 30, 2026. The issue price for each warrant is Rs. 9.45, including a premium of Rs. 8.45.
The allotment includes 75,00,000 warrants to M/s Jurox Enterprises Private Limited, 75,00,000 warrants to M/s Thomson & Wyman Enterprises Private Limited, 20,00,000 warrants to M/s Amar Advisors Private Limited, 40,00,000 warrants to M/s Venus partners, and 2,30,00,000 warrants to M/s Satyatej Vyapaar Private Limited.
The warrants are being allotted in electronic form and are subject to lock-in provisions as per SEBI regulations. Holders can exercise their conversion rights any time during the eighteen-month period upon payment of the remaining 75% of the amount payable. The allotment of warrants does not currently change the company's paid-up equity share capital.
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STEEL EXCHANGE INDIA 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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