S.A.L. Steel Limited has informed the Exchange about General Updates-Statement of Deviation ,or variation in the use of proceeds of Equity share/warrants for the Quarter ended March 31,2026
SALSTEEL · price
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S.A.L. Steel Limited has filed a compliance statement confirming no deviation or variation in the use of proceeds from a preferential issue of 3,57,50,000 convertible equity warrants. The warrants were issued on 13th February 2026 at ₹18 each (face value ₹10 + premium ₹8), raising ₹48.26 crore. The funds were allocated across five objectives: Working Capital (₹10 crore), Pellet Plant Facility (₹20 crore), Furnace Upgradation (₹10 crore), Plant Infrastructure (₹8 crore allocated, ₹7.77 crore utilized), and General Corporate Purpose (₹0.50 crore). All allocations were fully utilized with no deviations reported. The statement was reviewed and approved by the Audit Committee on 29th May 2026.
Positive signal for shareholders as the company has properly utilized the ₹48.26 crore warrant proceeds exactly as committed, with no deviation from stated objects. This compliance filing under SEBI LODR Regulation 32 confirms transparent fund deployment.