BSECompany Update1d ago · 5 Nov 2026, 06:06 pm

Vivro Financial Services Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Notice for the attention of the Public Shareholders of S.A.L. Steel Ltd ("Target Company").

S.A.L. Steel Ltd · 532604

✦ AI SummaryM&A

S.A.L. Steel Ltd has received a public notice for an open offer for the acquisition of up to 3,76,39,342 equity shares representing 26% of the expanded share capital at a price of ` 25/- per equity share. The offer is being made by Sree Metaliks Limited, and the last date for completing the underlying transaction was October 13, 2026, but was extended to February 20, 2027 due to extraordinary circumstances.

Analysis Scores

Earnings Impact5/10
Growth Catalyst6/10
Governance Concern2/10
Regulatory Risk8/10
Balance Sheet Risk4/10
Liquidity Impact7/10
Market Sentiment5/10

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S.A.L. Steel Ltd - 532604 - Public Notice

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PUBLIC NOTICE FOR THE ATTENTION OF THE PUBLIC SHAREHOLDERS OF SAL STEEL LIMITED Corporate Identification Number: L29199GJ2003PLC043148 Registered Office: 604 Zion Z1 Near Avalon Hotel, Sindhu Bhawan Road, Bodakdev, Ahmedabad Gujarat, India, 380059. Tel. No: +91 9925103299 | Email: cs@salsteel.co.in| Website: www.salsteel.co.in OPEN OFFER FOR THE ACQUISITION OF UP TO 3,76,39,342 (THREE CRORE SEVENTY SIX LAKHS THIRTY NINE THOUSAND THREE HUNDRED AND FORTY TWO) FULLY PAID-UP EQUITY SHARES OF FACE VALUE OF ` 10/- (RUPEES TEN ONLY) EACH (“EQUITY SHARES”) REPRESENTING 26% (TWENTY SIX PERCENT) OF EXPANDED SHARE CAPITAL OF SAL STEEL LIMITED (“TARGET COMPANY”) AT A PRICE OF ` 25/- (RUPEES TWENTY FIVE ONLY) PER EQUITY SHARES (“OFFER PRICE”) FROM THE PUBLIC SHAREHOLDERS OF THE TARGET COMPANY BY SREE METALIKS LIMITED (HEREINAFTER REFERRED TO AS THE “ACQUIRER”) PURSUANT TO AND IN COMPLIANCE WITH THE REGULATIONS 3(1) AND 4 READ WITH OTHER APPLICABLE PROVISIONS OF THE OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011, AS AMENDED (THE “OPEN OFFER” OR “OFFER”). This public notice (“Notice”) is being issued by Vivro Financial Services Private Limited, the Manager to the offer (“Manager to the Offer”), for and on behalf of the Acquirer. 1. In terms of Regulation 22(3) of the SEBI (SAST) Regulations read with SEBI Extension Letter dated July 30, 2026, the last date for completing the Underlying Transaction which triggered the open offer was October 13, 2026. However, the parties to the SPA were unable to complete a portion of the Underlying Transaction i.e. acquisition of 1,95,00,000 Sale Shares within the aforementioned date in view of extraordinary and supervening circumstances beyond the control of the Acquirer. 2. In view of the same, SEBI vide letter dated November 3, 2026 has granted a final extension of 4 months from the date of application i.e. till February 20, 2027 to complete the Underlying Transaction as contemplated under the SPA, in accordance with Regulation 22(3) of the SEBI (SAST) Regulations in response to the application made with SEBI. Issued by the Manager to the Offer on behalf of the Acquirer Vivro Financial Services Private Limited Address: Vivro House, 11 Shashi Colony, Opp. Suvidha Shopping Centre, Paldi, Ahmedabad - 380007. Gujarat. India. Tel No.: 079-4040 4242 | Email: investors@vivro.net | Website: www.vivro.net | Contact Person: Shivam Patel SEBI Reg. No. MB/INM000010122 Capitalized terms used but not defined in this public notice shall have the meaning assigned to such terms in the LOF. For, Sree Metaliks Limited Sd/- Mahesh Kumar Agarwal Date: November 4, 2026 Managing Director Place: Gurugram, Haryana DIN: 00168517 AdBaaz