Acquisitions17 Feb 2026, 06:02 pm
Sree Metaliks Limited Acquires 24.69% Stake in SAL Steel Limited Through Warrant Conversion
AI Summary
Sree Metaliks Limited (Acquirer) has acquired 24.69% of the expanded share capital of SAL Steel Limited (Target Company) through the conversion of 3,57,50,000 warrants. This acquisition makes Sree Metaliks Limited a promoter of SAL Steel Limited as per SEBI (SAST) Regulations and SEBI (LODR) Regulations.
Key Highlights
- Sree Metaliks Limited has acquired 24.69% of SAL Steel Limited's expanded share capital through warrant conversion.
- The acquisition is in compliance with Regulation 29(2) of SEBI (SAST) Regulations and Regulation 7(2)(a) of the SEBI (PIT) Regulations.
- The acquisition makes Sree Metaliks Limited a promoter of SAL Steel Limited as per SEBI (SAST) Regulations and SEBI (LODR) Regulations.
- The acquisition consists of 3,57,50,000 equity shares of SAL Steel Limited with a face value of 10/- each fully paid.
- The acquisition is pursuant to the Share Purchase Agreement and Share Subscription Agreement, dated September 04, 2025, and the completion of the open offer in accordance with SEBI (SAST) Regulations.