Regulatory30 May 2026, 11:01 am
SAL Steel: No Deviation in Equity Share/Warrant Proceeds
AI Summary
S.A.L. Steel Ltd confirms no deviation or variation in the use of proceeds from the preferential issue of 3,57,50,000 warrants, as stated in the explanatory statement of the Annual General Meeting held on September 26, 2025. This confirmation follows Regulation 32 of the SEBI (LODR) Regulations, 2015. The Audit Committee reviewed and approved this statement on May 29, 2026. Funds raised via preferential issue on February 13, 2026, amounted to ₹48,26,25,000.
Key Highlights
- SAL Steel confirms no deviation in use of proceeds from preferential warrant issue.
- Proceeds aligned with objects stated in AGM notice dated September 26, 2025.
- Audit Committee approved the statement confirming no deviation on May 29, 2026.
- ₹48.26 Cr was raised via preferential issue of warrants on February 13, 2026.
- Funds allocated for working capital, pellet plant, furnace upgrades, and infrastructure.
Price Impact
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