Multibagger stock, March 24 -- Rathi Steel & Power Limited shares jumped on Monday, March 24, as the company announced the allotment of equity shares by converting preferential shares, according to an exchange filing.

As per the data, the board of directors approved the allotment of 13,00,001 or 13 lakh equity shares with a face value of Rs.10 apiece to the conversion of 15,05,265 1 per cent Optionally Convertible Redeemable Preference Shares, which were issued on February 22, 2024.

"We wish to inform your good office that the Board of Directors of Rathi Steel and Power Limited at their meeting held today, i.e., March 24, 2025, has, inter alia, considered and approved the allotment of 13,00,001 Equity Shares of face value of Rs.10/- eac...