S.A.L. Steel Limited — Others, 12-11-2024: Utilisation of Funds

SAL Steel Limited confirms that there has been no deviation in the utilization of proceeds from its preferential issue of 48,00,000 Convertible Equity Warrants, which were issued at an issue price of ₹25 (including a premium of ₹15) for a total amount of ₹12 crore. The funds have been allocated to meet working capital requirements (₹9.25 crore utilized) and general corporate purposes (₹2.75 crore allocated, with no utilization). The Audit Committee has reviewed and approved this statement, affirming adherence to the originally stated purposes for the raised funds.