The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for SFAL Speciality Alloys Ltd
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SFAL Speciality Alloys Limited has disclosed acquisition of 1,04,89,522 equity shares of Nilachal Refractories Limited, representing 51.52% of the total share capital. The acquisition was completed on April 22, 2026, through an inter-se transfer pursuant to a Share Purchase Agreement dated March 11, 2026. The acquirer has clarified it does not belong to the Promoter/Promoter group of the target company. Post-acquisition, SFAL holds 51.52% voting rights in Nilachal Refractories. The target company's total equity share capital remains unchanged at 20,36,14,500 comprising 2,03,61,450 equity shares of face value Rs 10 each.
A non-promoter entity acquiring majority stake (51.52%) in Nilachal Refractories crosses the 50% threshold, triggering open offer obligations under SEBI SAST Regulations. This represents a significant change in ownership and control structure of the company.