MSP Steel & Power Limited — Important, 04-01-2025: General Updates

A corrigendum has been issued to clarify modifications to the outcome of a recent board meeting. The notable changes include an updated allocation of 17,923,751 equity shares upon the conversion of outstanding optionally convertible debentures (OCDs) at an issue price of ₹46 per share. This conversion involves two allotters: ICICI Bank, receiving 6,148,371 shares, and Punjab National Bank, receiving 11,775,380 shares. The total value of the OCDs aggregated to approximately ₹82.44 crore. After conversion, the new equity holding for ICICI Bank will be 12,412,692 shares, representing 2.42% of the post-issue equity, while Punjab National Bank will hold 11,775,380 shares, or 2.24%. This strategic move will enhance the capital structure and may positively influence the company’s equity position.