On November 1, 2025, Sree Metaliks Limited announced its acquisition of a 39.30% stake in SAL Steel Ltd., comprising 1,92,50,000 equity shares and 3,57,50,000 warrants. This acquisition signifies a substantial investment, representing 37.99% of the fully diluted share capital of SAL Steel following a preferential allotment. The deal was disclosed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, demonstrating compliance with regulatory requirements.

The transaction is expected to enhance Sree Metaliks' presence in the steel industry, aligning with its strategic growth objectives. SAL Steel, headquartered in Ahmedabad, is known for its production of high-quality steel products. The acquisition not only strengthens Sree Metaliks' portfolio but also highlights the ongoing consolidation trends in the Indian steel sector. As the market evolves, this stake acquisition may lead to further synergies and improved operational efficiencies for both companies.