MSP Steel & Power has informed that, pursuant to the Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and such other as applicable, the meeting of the Board of Directors of the Company held on September 16, 2024 at Registered office of the Company, commenced at 05:00 P.M. and concluded at 5:30 P.M. in that meeting the Board has decided the following matters: The Company placed the conversion notice (hereinafter to be referred as ‘notice’) received from the OCD holders/Lenders (hereinafter to be referred as ‘allottees’) annexed as on September 12, 2024 for converting the OCDs to Equity Shares of the Company at a price in accordance with SEBl (Issue of Capital & Disclosures Requirement) Regulation, 2018 (hereinafter to be referred as ICDR Regulations) Upon receipt of aforesaid notice, as per the terms of the Conversion of Outstanding OCDs, the Board of Directors, considered and approved the allotment of 9,60,99,913 equity shares having face value of Rs 10 each at Rs 35 (including premium of Rs 25 per share) to the allottees (categorized as ‘public’) of the Company on preferential basis in terms of SEBl (Issue of Capital & Disclosures Requirement) Regulation, 2018.
Consequently, the issued and paid-up capital of the Company stands increased to Rs 4.81 crore consisting of 48,15,14,913 equity shares bearing face value of Rs 10 each at a premium of Rs 25 each The new equity shares so allotted, shall rank Pari-passu with the existing equity shares of the Company.
The above information is a part of company’s filings submitted to BSE.
| Company Name | CMP |
|---|---|
| Tata Steel | 212.05 |
| JSW Steel | 1239.90 |
| SAIL | 173.50 |
| Jindal Stainless | 787.90 |
| APL Apollo Tubes | 2105.45 |
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