Announcement under Regulation 30 of SEBI (LODR) Regulation 2015- Statement of Deviation or Variation(s) in the proceeds of Equity share/Warrants under Regulation 32 of SEB (LODR) Regulation ....
SALSTEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
S.A.L. Steel Ltd has filed a confirmation that there is no deviation or variation in the utilization of proceeds from a preferential issue of 3,57,50,000 convertible equity warrants. The warrants were issued on 13th February 2026 at ₹18 per warrant (face value ₹10 + premium ₹8), raising a total of ₹48.26 crores. The funds have been deployed as per the original objects stated in the AGM notice: ₹10 crore for working capital, ₹20 crore for pellet plant facility, ₹10 crore for furnace refurbishment, ₹7.77 crore for plant infrastructure (out of ₹8 crore allocated), and ₹0.50 crore for general corporate purpose. The Audit Committee reviewed and approved this statement on 29th May 2026.
Positive signal for shareholders as it confirms the company is utilizing warrant proceeds exactly as committed, with no fund diversion or deviation from stated objects.