Acquisitions17 Feb 2026, 05:21 pm
Sree Metaliks Acquires 24.69% Stake in SAL Steel Through Warrant Conversion
AI Summary
Sree Metaliks Limited has acquired 24.69% of the expanded share capital of SAL Steel Limited through the conversion of warrants to equity shares. The acquisition was made on February 14, 2025. Post-acquisition, Sree Metaliks holds 57.51% of the total voting rights in SAL Steel. This acquisition is in accordance with the SEBI (SAST) Regulations and SEBI (LODR) Regulations.
Key Highlights
- Sree Metaliks acquired 3,57,50,000 equity shares of SAL Steel, representing 24.69% of the expanded share capital.
- The acquisition was made through the conversion of warrants to equity shares.
- Post-acquisition, Sree Metaliks holds 57.51% of the total voting rights in SAL Steel.
- The acquisition is in compliance with the SEBI (SAST) Regulations and SEBI (PIT) Regulations.
- The transaction is pursuant to the Share Purchase Agreement and Share Subscription Agreement, dated September 04, 2025.