Description
BSE notifies listing and trading permission for 1,92,50,000 new equity shares of S.A.L. Steel Ltd. issued on preferential basis to non-promoters at Rs. 18/- per share, effective February 25, 2026. Shares carry a lock-in until August 30, 2027.
Summary
BSE has notified trading members that 1,92,50,000 new equity shares of S.A.L. Steel Ltd. (Scrip Code: 532604) are listed and permitted to trade on the Exchange effective Wednesday, February 25, 2026. These shares were issued on a preferential basis to non-promoters at an issue price of Rs. 18/- per share (face value Rs. 10/- at a premium of Rs. 8/-).
Key Points
- Company: S.A.L. Steel Ltd. | Scrip Code: 532604 | ISIN: INE658G01014
- New Shares: 1,92,50,000 equity shares of Rs. 10/- each, issued at a premium of Rs. 8/-
- Issue Price: Rs. 18/- per share
- Allottee Category: Non-Promoters (preferential basis)
- Distribution Numbers: 84966701 to 104216700
- Date of Allotment: October 30, 2025
- Trading Effective From: February 25, 2026
- Pari-passu: Shares rank equally with existing equity shares of the company
Regulatory Changes
No new regulatory changes introduced. This circular pertains to the admission of new securities to trading following a completed preferential allotment under existing SEBI preferential issue regulations.
Compliance Requirements
- Trading members are informed to update their systems to reflect the new securities eligible for trading from February 25, 2026.
- The lock-in restriction on all 1,92,50,000 shares must be observed until August 30, 2027; these shares are not freely tradeable until that date.
Important Dates
| Event | Date |
|---|---|
| Date of Allotment | October 30, 2025 |
| Trading Permission Effective | February 25, 2026 |
| Lock-in Expiry | August 30, 2027 |
Impact Assessment
The listing adds 1,92,50,000 shares to S.A.L. Steel Ltd.’s tradeable equity base, representing a preferential allotment to non-promoters. While the shares are listed, the full lock-in on all newly issued shares until August 30, 2027 means no additional selling pressure in the near term. Existing shareholders may experience dilution in earnings per share metrics. The allotment at Rs. 18/- (face value Rs. 10/-) reflects a modest premium, which may be relevant for price discovery context.
Impact Justification
Routine preferential allotment listing with significant share count (1.925 crore shares) that may cause dilution for existing shareholders; lock-in until August 2027 limits near-term trading impact.