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Latest news about SAL Steel

SAL Steel Limited Issues Postal Ballot Notice for Director Appointments and Special Business Items 3 days ago

SAL Steel Limited has issued a postal ballot notice seeking shareholder approval for seven special business items, including appointments of managing directors Shri Mahesh Kumar Agarwal and Shri Kaustubh Agarwal, independent director Shri Hiren S. Mahadevia, and other key positions. E-voting is scheduled from February 21 to March 22, 2026, with results by March 24, 2026. The appointments bring diverse expertise spanning 40+ years in steel industry leadership and professional qualifications.

SAL Steel: Sree Metaliks Completes 24.69% Stake Acquisition Through Warrant Conversion 6 days ago

SAL Steel's Whole Time Director Babulal M Singhal Resigns Due to Personal Circumstances 9 days ago

SAL Steel Limited Appoints Rajesh Mangal as Additional Non-Executive Director 9 days ago

SAL Steel Confirms Board Leadership Changes with Official Regulatory Filing 9 days ago

More news about SAL Steel

29Dec 25

Shah Alloys Reduces Stake in SAL Steel to 18.71% After Selling 10.32% Through Off-Market Transfer

Shah Alloys Limited, a promoter group entity of SAL Steel Limited, has disposed of 1,07,56,989 shares (10.32% of total capital) through an off-market transfer on December 12, 2025. This transaction reduces Shah Alloys' stake in SAL Steel from 29.03% to 18.71%. The disposal was executed as per a Share Purchase Agreement dated September 4, 2025. SAL Steel's equity structure remains unchanged with 10,42,16,700 shares and a face value of ₹10 per share.

27Dec 25

SAL Steel Ownership Restructuring Formalized with SAL Care's Share Disposal Disclosure

SAL Steel's ownership restructuring has been formalized with SAL Care Private Limited's regulatory disclosure of share disposal to Sree Metaliks Limited. The off-market transaction completed on December 26, 2025, involved transfer of 1.27 crore equity shares and 48 lakh warrants, resulting in SAL Care's complete exit from promoter status and reclassification as public shareholder.

26Dec 25

SAL Steel: Sree Metaliks Converts 48 Lakh Warrants Worth 3.32% Stake

SAL Steel Limited disclosed that Sree Metaliks Limited has converted 48,00,000 warrants into equity shares, representing 3.32% of the expanded share capital. This warrant conversion is part of the broader acquisition structure established through a Share Purchase Agreement dated September 4, 2025, which originally involved both equity shares and warrants totaling 19.52% stake.

23Dec 25

SAL Steel Chairman Rajendrakumar Shah Resigns Due to Sree Metaliks Acquisition

SAL Steel Limited has announced the resignation of Chairman and Non-Executive Director Rajendrakumar Shah (DIN: 00020904) effective December 23, 2025, pursuant to the open offer acquisition by Sree Metaliks Limited. The company has fulfilled all regulatory disclosure requirements under SEBI regulations.

23Dec 25

SAL Steel Ltd Completes Board Restructuring with Regulatory Filings

SAL Steel Ltd has completed a comprehensive board restructuring with formal regulatory filings to BSE and NSE on December 23, 2025. The company appointed three new directors - Mahesh Kumar Agarwal as Whole Time Director & Chairperson, Kaustubh Agarwal as Whole Time Director, and Hiren S. Mahadevia as Non-Executive Independent Director. Chairman Rajendrakumar Shah formally resigned through documented submission, citing the Open Offer acquisition by Sree Metaliks Limited as the reason.

21Nov 25

SAL Steel Publishes Post-Offer Advertisement Following Sree Metaliks Open Offer

SAL Steel Limited has published a post-offer advertisement following the completion of Sree Metaliks Limited's open offer to acquire 3,76,39,342 equity shares representing 26% stake at ₹25 per share. The advertisement was published across multiple newspapers on December 22, 2025, in compliance with SEBI regulations, with payment scheduled for December 30, 2025.

14Nov 25

SAL Steel Reports Profit Amid Auditor Concerns and Ownership Transition

SAL Steel Limited reported a net profit of Rs 3.73 crore for Q2 2023, reversing a loss of Rs 9.68 crore in Q1. Total revenue decreased by 48.52% to Rs 65.73 crore. Auditors highlighted unprovided electricity duty of Rs 12.69 lakh and non-impairment of Capital Work in Progress worth Rs 100.94 lakh. The company is undergoing an ownership transition, with current promoters selling shares to Sree Metaliks Limited, who will also subscribe to new shares and warrants for Rs 99 crore.

03Nov 25

Sree Metaliks Acquires 39.30% Stake in SAL Steel Through Preferential Allotment

Sree Metaliks Limited has acquired a 39.30% stake in SAL Steel through a preferential allotment. The acquisition includes 1,92,50,000 equity shares at Rs. 18 per share, totaling Rs. 34.65 crores, and 3,57,50,000 convertible warrants at Rs. 18 each, valued at Rs. 64.35 crores. The equity shares represent 13.57% of SAL Steel, while the warrants, convertible within 18 months, account for 25.34%. The transaction, completed on November 1, 2025, will lead to Sree Metaliks being classified as a promoter of SAL Steel after an open offer, with existing promoters losing their status.

01Nov 25

SAL Steel Announces Major Share and Warrant Allotment to Sree Metaliks

SAL Steel Limited's Board of Directors approved a preferential allotment to Sree Metaliks Limited on October 30, 2025. The allotment includes 1,92,50,000 equity shares and 3,57,50,000 warrants. This significant issuance was promptly reported to both BSE and NSE, in compliance with SEBI regulations. The move suggests a potential strategic partnership, capital raising effort, or possible change in ownership structure for SAL Steel.

31Oct 25

SAL Steel Allots ₹99 Crore in Equity Shares and Warrants to Sree Metaliks, Signaling Ownership Shift

SAL Steel Limited has approved a preferential allotment of 1.93 crore equity shares and 3.58 crore convertible warrants to Sree Metaliks Limited at ₹18 per unit, totaling ₹99 crore. The transaction includes 1.93 crore equity shares for ₹34.65 crore and 3.58 crore warrants for ₹64.35 crore. Sree Metaliks has paid an initial ₹16.09 crore for the warrants. This deal will increase SAL Steel's paid-up equity capital from ₹84.97 crore to ₹104.22 crore. Upon completion and full conversion of warrants, Sree Metaliks is expected to hold a 37.99% stake in SAL Steel and become a promoter, while existing promoters will lose this status.

12Sept 25

Sree Metaliks Launches ₹94 Crore Open Offer for SAL Steel, Aims to Acquire 26% Stake

Sree Metaliks Limited has announced an open offer to acquire up to 26% of SAL Steel Limited for ₹94.09 crore at ₹25 per share. This follows agreements to purchase shares from current promoters and a preferential allotment of new shares and warrants. If successful, Sree Metaliks could hold a 96.98% stake in SAL Steel. The offer opens on October 31, 2025, and closes on November 14, 2025. This move signifies a major shift in SAL Steel's ownership and control.

05Sept 25

SAL Steel Announces Major Stake Sale and Preferential Issue to Sree Metaliks Limited

SAL Steel Limited's board approved a significant ownership change and capital infusion. Sree Metaliks Limited will acquire shares from current promoters, becoming the new promoter. A preferential issue of ₹99 crore to Sree Metaliks includes equity shares and convertible warrants at ₹18 per share. Funds will be used for working capital, a new pellet plant, facility upgrades, and infrastructure improvements. The transaction involves a mandatory open offer and reclassification of existing promoters as public shareholders. SAL Steel's authorized share capital will increase to ₹145 crore.

04Sept 25

SAL Steel Approves Strategic Agreements with Sree Metaliks, Paving Way for New Promoter

SAL Steel Limited's board has approved two key agreements with Sree Metaliks Limited. A Share Purchase Agreement will see current promoters sell a substantial stake to Sree Metaliks, making it the new promoter. A Share Subscription Agreement will raise ₹99 crores through issuance of new shares and warrants. The authorized share capital will increase from ₹140 crores to ₹145 crores. Post-transaction, Sree Metaliks is expected to hold a 37.99% stake in SAL Steel. The deals are subject to shareholder and regulatory approvals.

14Aug 25

SAL Steel Reports Net Loss of Rs 9.68 Crore in Q1 Amid Rising Expenses

SAL Steel, a Ferro Alloys and Sponge Iron manufacturer, reported a net loss of Rs 9.68 crore for Q1 FY2023-24, compared to a net profit of Rs 0.16 crore in Q1 FY2022-23. Revenue from operations increased to Rs 127.55 crore from Rs 110.70 crore year-on-year. However, total expenses surged to Rs 140.62 crore, resulting in a loss before tax of Rs 12.94 crore. Rising material costs, inventory changes, and increased finance costs contributed to the loss. The company's EPS for the quarter was negative Rs 1.14. Auditors highlighted non-provision of Electricity Duty and failure to impair Capital Work in Progress as key issues.