Visa Ind to pump Rs 200cr in Visa Steel via preferential warrants

Odisha Visa Steel on Saturday said its board has approved a proposal to raise up to Rs 200 crore by issuing convertible warrants to its promoter group on a preferential basis.

The company will issue up to 5 crore convertible warrants, each exercisable into one equity share of face value Rs 10, at an issue price of Rs 40 per warrant, VISA Steel said in a regulatory filing.

The warrants will be allotted to VISA Industries Limited, a promoter group entity, it said.

Each warrant can be converted into one equity share within 18 months from the date of allotment, the filing said.

Upon full conversion of the warrants, the shareholding of VISA Industries Limited in the steel maker will increase to 40.17 per cent from the current 14.33 per cent.

The board has also approved convening an Extraordinary General Meeting (EGM) of shareholders on November 2, 2025, to seek their approval for the fundraise proposal.