SAL Steel board rejig post Sree Metaliks takeover; new Chairman named

Listed-company acquisitionOpen offer triggeredStrategic Transactions View source PDF Explain this filing

SALSTEEL · price

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Price reactionminutes from the announcement price · days from the prior close

-2.0%Reaction day

₹41.80

prior close

₹40.97

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.1%-2.0% vs market

On the reaction day the stock moved 2.0 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

-2.0+0.1-2.0

Next day

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AI summary

Post completion of Sree Metaliks acquisition and Open Offer on Dec 11 2025, SAL Steels board appointed Mahesh Kumar Agarwal as Whole Time Director and Chairperson, his son Kaustubh Agarwal as Whole Time Director, and Hiren Mahadevia as Independent Director. Former Chairman Rajendrakumar Shah resigned citing the takeover, while Whole Time Director Mrinal Sinha resigned for personal reasons.

Likely market impact

Change of control complete; new management from Sree Metaliks now leads SAL Steels board.