Visa Steel allots warrants to promoter group for INR 2bn

Visa Steel Limited, through its Preferential Issue Committee, announced the allotment of 5,00,00,000 fully convertible warrants to VISA Industries Limited, a member of the promoter group. This allotment, approved on November 26, 2025, follows a special resolution passed in an Extra-Ordinary General Meeting on November 2, 2025. Each warrant, issued at a price of INR 40, aggregates to a total consideration of INR 2,00,00,00,000.

The allotment was made on a preferential basis, with 25% of the issue price, totaling INR 50,00,00,000, received upfront. The balance 75% is to be paid within 18 months. These warrants entitle the holder to apply for an equal number of equity shares, each with a face value of INR 10, and will be locked-in for a specified period and will not be listed.

The equity shares allotted upon conversion will rank pari passu with existing equity shares and will be listed on stock exchanges. This issuance aligns with SEBI ICDR Regulations, 2018, and SEBI LODR Regulations, 2015.