Scan Steels Ltd — Important, 27-04-2026: Company Update

Scan Steels has announced its board approved the allotment of 21,44,239 new equity shares with a face value of Rs. 10 each, totaling approximately 2.14 Cr. This follows the conversion of 20,42,133 Optionally Convertible Redeemable Preference Shares (OCRPS) by specific investors, as per a previous shareholder resolution. This move increases the company's equity base and adjusts the shareholding for Bayanwala Brothers Pvt. Ltd., Gopikar Supply Pvt. Ltd., and Ascon Merchandise Pvt. Ltd. It signifies a conversion of preference capital into ordinary equity, impacting the company's capital structure.