Scan Steels Limited - Share Issue/Capital Change 2026

SCAN STEELS LTD.
CIN : L27209MH1994PLC076015 | GSTIN : 21AABCM6734H1ZQ
+91 80931 15221
+91 90781 85221
[email protected]
www.scansteels.com

Date: 13.05.2026

To,

The General Manager-Listing

Department of Corporate Services

BSE Limited

Phiroze Jeejeebhoy Towers,

Dalal Street, Mumbai- 400 001.

BSE Code: 511672

Sub: Receipt of 'In-principle' Approval under Regulation 28(1) of SEBI LODR Regulations for proposed preferential issue of the Company and submission of Listing Application

Ref: Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations")

Dear Sir/Madam,

Pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), we would like to inform that Scan Steels Limited ("the Company") has received the In-principle Approval from BSE Limited vide their letter bearing No. LOD/PREF/KS/FIP/1162/2024-25 dated November 17, 2025 for the proposed issue of the following securities:

20,42,133 Optionally Convertible Preference Shares (OCRPS) of Rs. 10/- each to be converted into 21,44,239 equity shares of Rs. 10/- each at a price not less than Rs. 57.12/- to promoters and non-promoters on a preferential basis.

Further, we wish to inform that pursuant to the allotment of the said equity shares, the Company has submitted the listing application on the BSE Listing Centre on May 12, 2026 for obtaining listing approval of the aforesaid equity shares.

Enclosed herewith is the In-principle Approval Letter received from the BSE Limited for your kind perusal and record.

Please acknowledge and take on record the same.

Thanking You,

Yours Faithfully,

For SCAN STEELS LIMITED

Prabir Kumar Das
Digitally signed by
Prabir Kumar Das
Date: 2026.05.13
14:44:42 +05'30'

Prabir Kumar Das
Company Secretary& Compliance Officer
(Membership No.: F6333)

Encl.: As above

Corporate Office : Trishna Nirmalya
Plot No. 516/1723/3991, 3rd Floor
Patia, Bhubaneswar-751024
Registered Office : Office No. 104, 105, E-Square
Subhash Road, Vile Parle (East), Mumbai-400057
Phone : +91-02226185461, +91-02226185462

BSE
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"Revised"

LOD/PREF/KS/FIP/1162/2024-25

November 17, 2025

To,

The Company Secretary,
Scan Steels Ltd.
Office No. 104, 105, E-Square, Subhash Road,
Opp. Havmore Ice Cream, Vile Parle (E), Mumbai - 400057.

Dear Sir/Madam,

Re: ‘In-principle’ approval under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.

We refer to your application seeking our “In-principle approval for the issue of 20,42,133 Optionally Convertible Preference Shares (OCRPS) of Rs. 10/- each to be converted into 21,44,239 equity shares of Rs. 10/- each at a price not less than Rs. 57.12/- to promoters and non-promoters on a preferential basis.”

The Exchange hereby grants its ‘in-principle’ approval for the aforesaid issue. This ‘in-principle’ approval should not be construed as our approval for listing of aforesaid security, and you are required to duly and separately comply with the requirements in respect thereof.

You are advised to ensure that the issue and allotment of securities is strictly in accordance with the provisions of the Companies Act, 2013, Securities Contracts (Regulation) Act, 1956, the Securities and Exchange Board of India Act, 1992, the Depositories Act, 1996 including the Rules, Regulations, Guidelines, etc. made there under, Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations), the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 (LODR Regulations) and the Listing Agreement signed with us. In addition, you shall also obtain such statutory and other approvals as are required for the purpose.

Further, the company is advised to strengthen internal controls (to monitor trades being executed by the proposed allottees in the scrip of the company) before allotment of securities in order to avoid any non-compliances in respect of trades being executed by the allottees in contravention to provisions of Chapter V of SEBI (ICDR) Regulations. In this regard,

a) Company is advised to obtain an undertaking from the allottee(s) confirming that they shall not do intra-day trading in the scrip of the company or any sale in the scrip of the company till the allotment date of the security as required under SEBI (ICDR) Regulations.

b) The company may note that the responsibility/onus is solely on the Issuer company to verify the above (a) and ensure compliance with applicable provisions including Regulation 167(6) of SEBI ICDR regulations, 2018.

A.S.
Ams.

Registered Office: BSE Limited, Floor 25, P J Towers, Dalal Street, Mumbai - 400 001, India. T: +91 22 2272 1234/33 | E: [email protected]
www.bseindia.com | Corporate Identity Number : L67120MH2005PLC155188

BSE
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c) The company may also note that any non-compliances, if observed by the exchanges post the undertaking and verification by the Issuer company may impact the listing of such shares.

On allotment of securities pursuant to this ‘in principle’ approval you are required to make a listing application without delay, with applicable fees, in terms of Regulation 14 of the LODR Regulations and comply with the post issue formalities.

Listing application and the checklist for post issue listing formalities can be downloaded from the link: https://www.bseindia.com/static/about/downloads.aspx. Further, it should be noted by Depositories and the Company that in case of allotment of Convertible Securities, there would be automatic release of excess lock-in period of Pre-Preferential Holding of allottees by Depositories in compliance with SEBI(ICDR) Regulations,2018 without requirement of any NOC by the Exchange.

In addition to above, the company should note that as per Schedule XIX – Para (2) of ICDR Regulations and as specified in SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023, “the issuer or the issuing company, as the case may be, shall, make an application for listing, within twenty days from the date of allotment, to one or more recognized stock exchange(s)” along with the documents specified by stock exchange(s) from time to time. Any Non-compliance with the above requirement will attract, the fine as mentioned in SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023.

The Exchange reserves its right to withdraw this ‘in-principle’ approval at any stage if the information submitted to the Exchange is found to be incomplete/ incorrect/ misleading/ false or if it contravenes any Rules, Bye-laws and Regulations of the Exchange, LODR Regulations, ICDR Regulations and Guidelines/ Regulations issued by any statutory authorities etc.

Yours faithfully,