Acquisitions5 Sept 2025, 10:12 am
Sree Metaliks to Acquire 26% Stake in S.A.L. Steel Ltd for INR 94 Crores
AI Summary
Sree Metaliks Limited is making a mandatory open offer to acquire up to 26% of the expanded share capital of S.A.L. Steel Ltd. The offer is for 3,76,39,342 equity shares at a price of INR 25 per share, amounting to a total consideration of INR 94,09,83,550. This offer is in compliance with Regulations 3(1) and 4 of the SEBI (SAST) Regulations, following the execution of a Share Subscription Agreement (SSA) and a Share Purchase Agreement (SPA).
Key Highlights
- Sree Metaliks to acquire up to 26% stake in S.A.L. Steel Ltd
- Open offer for 3,76,39,342 equity shares at INR 25 per share
- Total consideration of INR 94,09,83,550
- Offer in compliance with SEBI (SAST) Regulations
- Follows execution of SSA and SPA