Visa Steel plans ₹200 crore preferential warrant issue

Visa Steel Ltd. announced its board’s approval on October 4, 2025, for a preferential issue of up to 50 million convertible warrants. Each warrant is exercisable into one fully paid-up equity share with a face value of ₹10, at an issue price of ₹40 per warrant. This initiative aims to raise an aggregate of up to ₹2 billion.

The warrants will be issued to VISA Industries Limited, a promoter group entity, and can be exercised within 18 months from allotment. An amount equivalent to a minimum of 25% of the warrant exercise price is payable upon subscription, with the balance due upon conversion into equity shares. The preferential issue is subject to regulatory approvals and an Extra-Ordinary General Meeting (EGM) of shareholders, scheduled for November 2, 2025, to seek necessary approvals.

Following the full conversion of these warrants, the company's total shares would increase, with the promoter group's shareholding potentially rising to 40.17%. The relevant date for the issue, in accordance with SEBI ICDR Regulations, is October 3, 2025.