The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Sree Metaliks Ltd
SALSTEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.9 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Sree Metaliks Ltd, a non-promoter entity, has acquired a 39.30% stake in S.A.L. Steel Ltd through a preferential allotment on October 30, 2025, with no prior holding. The deal consists of 1.92 crore equity shares at ₹18 each (₹34.65 crore) and 3.57 crore fully convertible warrants at ₹18 each (₹64.35 crore), totalling about ₹99 crore. After the transaction and completion of the mandatory Open Offer, Sree Metaliks will be classified as the new promoter of SAL Steel, and the existing promoters and promoter group will cease to be classified as promoters. The acquisition is linked to a Share Purchase Agreement and Share Subscription Agreement dated September 4, 2025. Assuming full warrant conversion, the expanded share capital will rise from 8.50 crore shares to about 14.48 crore shares.
This is a clear change-of-control event — expect a mandatory Open Offer for remaining shareholders at a price benchmarked to these allotment terms. Existing promoters are exiting the promoter classification, and the share capital will more than double post-conversion, leading to significant dilution for current non-promoter shareholders.