Scan Steels Ltd Allots Equity Shares Following OCRPS Conversion
Scan Steels Ltd reported on April 27, 2026, that its Board of Directors approved the allotment of 21,44,239 equity shares at a face value of Rs. 10 each. The issuance of these fully paid-up shares is the result of the conversion of 20,42,133 Optionally Convertible Redeemable Preference Shares (OCRPS).The board approved the allotment following the exercise of the option of conversion by the OCRPS Holders.
The total conversion details are summarized as follows:
| Metric | Details |
|---|---|
| Total OCRPS Converted | 20,42,133 |
| Total Equity Shares Allotted | 21,44,239 |
| Face Value Per Share | Rs. 10 |
The allotment was distributed among three key investors:
| Investor Name | OCRPS Allotted (Nos.) | Equity Shares Allotted (Nos.) | Post Allotment Shareholding % |
|---|---|---|---|
| Bayanwala Brothers Pvt. Ltd. | 11,07,508 | 11,62,884 | 16.36 |
| Gopikar Supply Pvt. Ltd. | 4,67,527 | 4,90,904 | 6.46 |
| Ascon Merchandise Pvt. Ltd. | 4,67,098 | 4,90,451 | 4.30 |
| Total | 20,42,133 | 21,44,239 |
SCANSTL Stock Price Movement
Today, Scan Steels Limited shares edged higher to close at ₹38.60, gaining 4.90% in post-market trading. The stock finished the day with 112,400 shares traded, signaling strong investor interest after hitting an impressive 52-week high of ₹40.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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