SAL Steel has received a disclosure from Shah Alloys Limited regarding the substantial disposal of shares under Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction represents a significant reduction in the promoter group's shareholding in the steel company.

Transaction Details

Shah Alloys Limited, which belongs to the promoter group of SAL Steel Limited, executed an off-market transfer of shares pursuant to a Share Purchase Agreement dated September 4, 2025. The actual disposal took place on December 12, 2025.

Shareholding Pattern Changes

The disposal has resulted in a significant change in Shah Alloys Limited's shareholding pattern in SAL Steel Limited. Before the transaction, the promoter entity held a total of 3,02,56,989 shares representing 29.03% of the company's voting capital.

Company Capital Structure

SAL Steel Limited's equity share capital remains unchanged following this transaction. The company maintains its capital structure with no impact on the total number of outstanding shares.

SAL Steel Limited's shares are listed on both BSE Limited and National Stock Exchange of India Limited. The disclosure was signed by Narayanlal F. Shah, Company Secretary & Compliance Officer of Shah Alloys Limited, ensuring compliance with regulatory requirements for substantial shareholding changes.

As a result of this transaction, Shah Alloys Limited has reduced its total holding in SAL Steel Limited to 18.71%, down from the previous 29.03%. This significant reduction in stake through an off-market transfer marks a notable change in the ownership structure of SAL Steel Limited.

SAL Steel has completed a comprehensive ownership restructuring with the formal disclosure of share disposal by SAL Care Private Limited to Sree Metaliks Limited. The transaction, executed through off-market transfer on December 26, 2025, marks the complete exit of the original promoter and establishes Sree Metaliks Limited as the new controlling entity.

Share Disposal Transaction Details

SAL Care Private Limited has formally disclosed the disposal of its entire shareholding to Sree Metaliks Limited under SEBI regulations. The transaction was completed pursuant to a Share Purchase Agreement dated September 04, 2025, with the actual transfer executed on December 26, 2025.

Promoter Reclassification and Regulatory Compliance

Following the share disposal, SAL Care Private Limited has been reclassified from "Promoter" to "Public Shareholder" status in accordance with SEBI SAST Regulations and SEBI LODR Regulations. The company confirmed compliance with all regulatory requirements for the promoter exit and subsequent reclassification of Sree Metaliks Limited as the new promoter.

Capital Structure Impact

The transaction maintains the existing equity share capital structure of ₹104.22 crores, consisting of 10,42,16,700 equity shares of face value ₹10.00 each. The total diluted share capital, including convertible warrants, stands at ₹144.77 crores representing 14,47,66,700 potential equity shares.

Sree Metaliks Limited's Enhanced Position

With the acquisition of SAL Care's shareholding and the previous warrant conversion of 48,00,000 shares, Sree Metaliks Limited has strengthened its position as the controlling shareholder. The company now holds significant influence over SAL Steel's strategic direction and operational decisions.

The formal disclosure by SAL Care Private Limited under SEBI regulations provides transparency regarding the ownership transition and ensures compliance with all applicable securities laws. This restructuring represents a complete transformation of SAL Steel's promoter structure, establishing a new phase of corporate governance under Sree Metaliks Limited's leadership.