Visa Steel Limited Allots 1,65,00,000 Equity Shares to VISA Industries Limited
Visa Steel Limited announced the allotment of 1,65,00,000 Equity Shares to VISA Industries Limited, a member of the Promoter Group. This transaction involves the conversion and exercise of fully Convertible Warrants.The allotment follows a meeting of the Preferential Issue Committee of the Board of Directors, which approved the measure on April 6, 2026. This action is subsequent to the allotment of 5,00,00,000 fully convertible warrants to VISA Industries Limited, initially communicated on November 26, 2025, when the issue was conducted on a preferential basis at an issue price of Rs. 40 per Warrant.
The Committee approved the allotment of 1,65,00,000 Equity Shares to VISA Industries Limited. For this transaction, the company received a total amount of Rs. 49,50,00,000 on April 4, 2026. This amount represents the balance subscription consideration of Rs. 30 per Warrant, which equates to 75% of the original Issue Price, upon the conversion or exercise of the 1,65,00,000 fully Convertible Warrants into Equity Shares.
Transaction Details
The following table summarizes the key figures regarding the allotment of warrants and the resulting share capital increase:| Particulars | Details |
|---|---|
| Name of the Allottee | VISA Industries Limited |
| Category of Allottee | Member of Promoter Group |
| Total Number of Warrants Allotted | 5,00,00,000 |
| Warrants Applied for Exercise | 1,65,00,000 |
| Warrant Exercise Price Received (balance consideration) | Rs. 49,50,00,000 |
| Equity Shares Allotted | 1,65,00,000 |
Impact on Share Capital
Following the allotment, the Issued and Paid-up Share Capital of Visa Steel Limited increased to Rs. 1,45,78,95,000. This capital consists of 14,57,89,500 Equity Shares, each with a face value of Rs. 10. The newly allotted Equity Shares will rank pari-passu with the company's existing Equity Shares.The company's share capital increased from Rs. 1,29,28,95,000 (consisting of 12,92,89,500 Equity Shares of Rs. 10 each) to Rs. 1,45,78,95,000 (consisting of 14,57,89,500 Equity Shares).
The company's stock codes are listed as BSE Scrip Code: 532721 and NSE SYMBOL: VISASTEEL.
VISASTEEL Stock Price Movement
At the close of trade, shares of Visa Steel Limited rallied by 4.8% to finish at ₹31.43. Throughout the session, the stock traded within a band of ₹30.16 to ₹31.48, alongside a volume of 7,860 shares traded.Source:
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