SAL Steel Allots 3.57 Cr Shares to Sree Metaliks on Warrant Conversion
S.A.L. Steel Limited approved the allotment of 3,57,50,000 equity shares to Sree Metaliks Limited upon warrant conversion. The issue price was ₹18 per share. This increases the company's equity share capital to ₹144.77 crore. Sree Metaliks Limited's shareholding rose to 57.51%.
The conversion of warrants and allotment of shares will increase the company's equity capital and alter the shareholding pattern, which can have a medium-term impact on financial metrics and market perception.
The allotment of shares upon warrant conversion and the increase in shareholding for the promoter category indicates positive corporate action and financial strengthening.
S.A.L. Steel Limited announced that its Board of Directors, in a meeting held on February 14, 2026, approved the allotment of 3,57,50,000 equity shares to Sree Metaliks Limited. These shares are a conversion of warrants, with each warrant converted into one equity share at an issue price of ₹18 per share. The conversion involved the payment of the remaining 75% of the issue price, amounting to ₹13.50 per warrant, from Sree Metaliks Limited.
Previously, on October 30, 2025, 3,57,50,000 warrants were allotted to Sree Metaliks Limited on a preferential basis at an issue price of ₹18 per warrant, with an initial payment of ₹4.50 per warrant (25% of the issue price). The conversion of these warrants increases the company's Issued, Subscribed and Paid-up Equity Share Capital to ₹144,76,67,000, comprising 14,47,66,700 equity shares of face value ₹10 each. The newly allotted shares will rank pari-passu with the existing equity shares.
Following this allotment, the shareholding of Sree Metaliks Limited in S.A.L. Steel Limited has increased from 43.58% to 57.51%. The total value of the warrants convertible into equity shares amounts to ₹64,35,00,000.
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S.A.L. Steel Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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