Significant movement in price has been observed in S.A.L. Steel Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. S.A.L. Steel Limited has submitted their response.
SALSTEEL · price
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BSE and NSE wrote to the company noting significant price movement in the stock. In response, S.A.L. Steel clarified that the movement is linked to an Open Offer acquisition by Sree Metaliks Limited completed in December 2025. The company also disclosed three share allotments to the new promoter Sree Metaliks: 19.25 million shares on October 30, 2025, 35.75 million shares on February 14, 2026 (warrant conversion), and 4.8 million shares on December 28, 2026 (warrant conversion), all issued under SEBI ICDR regulations. The company states there is no other material information that would explain the price movement and attributes it to market forces.
Sree Metaliks Limited now holds a significantly increased stake in the company following the open offer and warrant conversions. The large share issuance to the promoter has diluted existing shareholders' equity and may explain the observed price volatility. Investors should note this change in control and the substantial equity expansion.