MSP Steel & Power Limited (MSPL) has officially announced the allotment of 2,80,00,000 convertible warrants following its Board Meeting held on March 14, 2026. This issuance, priced at Rs. 35 per warrant (including a premium of Rs. 25), was made on a preferential basis to M.A Hire Purchase Private Limited, an entity belonging to the Promoter Group. The company received Rs. 24.50 Crores as application money, representing 25% of the total issue price, with the remaining 75% to be paid upon conversion into equity shares.

The warrants were issued following a special resolution passed by shareholders on December 12, 2025, and subsequent in-principle approvals from the NSE and BSE on February 27, 2026. Each warrant is convertible into one fully paid-up equity share of face value Rs. 10 within the stipulated timeframe. Notably, this allotment has not yet resulted in a change to the company’s paid-up share capital, as the conversion is pending the receipt of the balance consideration.

MSP Steel & Power Limited is a Kolkata-based integrated steel manufacturer with a diverse product portfolio including TMT bars, billets, ferroalloys, and pellets. Throughout 2025, the company focused on optimizing its manufacturing facility in Raigarh, Chhattisgarh, to meet rising infrastructure demand. Recent industry updates from 2025 indicate that MSPL has been actively seeking to strengthen its balance sheet through promoter-led capital infusions to support working capital requirements and potential brownfield expansions.

In the financial results for the quarter ended September 30, 2025, the company reported steady operations amidst volatile raw material prices. For the most recent audited period in late 2025, MSPL demonstrated a resilient revenue trajectory, though margins remained under pressure due to fluctuating coal and iron ore costs. While the company does not currently feature high-profile celebrity investors, it maintains a strong promoter holding, further solidified by the recent warrant subscription by M.A Hire Purchase Private Limited.