Steel Exchange India Limited announced that its Board of Directors, in a meeting held on March 4, 2026, approved the issuance of up to 36,14,60,300 convertible warrants. These warrants, with a face value of Re.1 each, will be issued at a premium of Rs.8.45 per warrant, for a total consideration not exceeding ₹350 crore. The preferential issue is subject to shareholder approval. The board also approved the notice for the 1st Extraordinary General Meeting for FY 2025-26. Additionally, a proposal to modify and/or change the terms and conditions of the company's listed Non-Convertible Debentures (NCDs) was approved. The modification pertains to the security structure of the debentures, changing the charge over current assets from a second ranking pari passu to a first charge ranking pari passu among debenture holders. The tenure of the warrants is a maximum of 18 months from the allotment date.
