S.A.L. Steel Limited — Others, 12-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

SAL Steel Limited has announced a board meeting to review the quarterly statement on the utilization of proceeds from its preferential issue of 48,00,000 Convertible Equity Warrants, which raised ₹12 crore. For the quarter ended December 31, 2024, the company confirmed no deviations in the use of these funds, which were allocated primarily for working capital and general corporate purposes. The Audit Committee reviewed and approved this statement, indicating financial discipline and adherence to the original objectives. This positivity may enhance investor sentiment, reinforcing confidence in management's commitment to transparency and operational integrity.