Scan Steels Ltd — Important, 01-12-2025: Company Update

Scan Steels' board approved the allotment of 20.42 lakh Optionally Convertible Redeemable Preference Shares (OCRPS) with a face value of Rs 10 each. These OCRPS were issued to specified persons by converting 28.31 lakh existing Non-Convertible Redeemable Preference Shares (NCRPS). Each OCRPS can be converted into 1.05 fully paid-up equity shares of Rs 10 face value. This move alters the company's capital structure, giving holders the option to convert their preference shares into equity, potentially impacting future shareholding and equity base.