Scan Steels Ltd — Updates, 14-04-2025: Company Update

Scan Steels Ltd. has announced a board meeting outcome, approving the issuance of 20,42,133 Optionally Convertible Redeemable Preference Shares (OCRPS) through a private placement, aimed at converting existing Non-convertible Redeemable Preference Shares (NCRPS). The board also approved the notice for a Postal Ballot, with remote e-voting set to occur from April 15 to May 14, 2025. Central Depository Services (India) Limited will facilitate the e-voting process. This development could enhance liquidity for existing shareholders while potentially attracting new investments, presenting a positive outlook for the company’s capital structure.