Scan Steels Ltd — Important, 13-05-2026: Company Update

Scan Steels Limited has received in-principle approval from BSE for its proposed preferential issue of securities. The company plans to issue 20,42,133 Optionally Convertible Preference Shares (OCRPS) of Rs. 10/- each. These OCRPS will convert into 21,44,239 equity shares of Rs. 10/- each at a price not less than Rs. 57.12/- per share. This issuance, directed at promoters and non-promoters, aims to strengthen the company's capital base. Following this approval, the company has submitted a listing application for these new equity shares. This move enhances the company's financial structure and supports its operational funding.