S.A.L. Steel Limited has informed the Exchange regarding Notice of Postal Ballot
SALSTEEL · price
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S.A.L. Steel Limited has issued a Postal Ballot Notice to shareholders seeking approval through a Special Resolution. The resolution proposes to raise the company's overall borrowing limit to Rs. 2,000 Crores, up from the existing Rs. 1,800 Crores limit that was approved way back in 2005. It also seeks authorization for the Board of Directors to create charges, mortgages, or security on the company's assets (both movable and immovable) to secure these borrowings. E-voting will be conducted through NSDL from April 18, 2026 (9:00 AM) to May 17, 2026 (5:00 PM), with the cut-off date for eligibility set as March 27, 2026. The Scrutinizer is CS Kamlesh M. Shah, and voting results are expected to be announced on or before May 19, 2026. This is a routine compliance exercise required under Section 180 of the Companies Act, 2013.
If approved, the company will have greater flexibility to raise additional debt for its business operations and to pledge assets as security. This is largely a housekeeping/governance measure and is unlikely to have a direct impact on the stock price, though it signals that the company may be planning to take on more borrowing in the future.