# Sree Metaliks to acquire control of SAL Steel via stake purchase and preferential issue

Sree Metaliks Limited will acquire shares from SAL Steel's promoters (Shah Alloys and SAL Care) and invest ₹99 crore via a preferential issue, becoming the new promoter. The funds will be used for working capital and a new pellet plant.

- Type: Acquisition
- Announced: 2025-09-04
- Where: India
- Value: $11.9M (990.0M INR)
- Status: announced
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Sree Metaliks Limited](https://endata.com/companies/87109.md) (acquirer)
- [SAL Steel Limited](https://endata.com/companies/87110.md) (target)
- [Shah Alloys Limited](https://endata.com/companies/87111.md) (partner)
- [SAL Care Private Limited](https://endata.com/companies/87112.md) (partner)

## Sources

- [scanx.trade](https://scanx.trade/stock-market-news/corporate-actions/sal-steel-announces-major-stake-sale-and-preferential-issue-to-sree-metaliks-limited/18589625), 2025-09-05: "Sree Metaliks Limited will acquire shares from current promoters, becoming the new promoter."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.