S.A.L. Steel Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
SALSTEEL · price
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S.A.L. Steel Limited has announced the results of its postal ballot conducted via remote e-voting from April 18, 2026 to May 17, 2026. Shareholders approved a Special Resolution to increase overall borrowing limits and authorize the Board of Directors to create mortgages or charges on the company's assets. Out of 118 members who voted, 111 members with 4,36,63,312 votes (99.99%) voted in favor, while only 7 members with 3,846 votes (0.01%) voted against. The resolution was passed with the requisite majority as a Special Resolution, as confirmed by Scrutinizer Kamlesh M. Shah & Co.
The approval of higher borrowing limits gives the company greater financial flexibility to raise debt or credit facilities. This is a routine governance matter with overwhelmingly positive shareholder support, unlikely to have any immediate impact on the stock price.