Aromatic Steel Private Limited Acquires Significant Stake in Nova Iron & Steel Limited
Aromatic Steel Private Limited has acquired a substantial stake in Nova Iron & Steel Limited, significantly increasing its ownership and voting rights in the company. The transaction, executed on July 15, 2026, involved an off-market inter-se transfer of equity shares.Prior to this acquisition, Aromatic Steel Private Limited held 3,418,000 shares, representing a 9.46% stake in Nova Iron & Steel Limited. The entity, which belongs to the promoter group, successfully acquired an additional 3,331,000 shares during the transaction.
Following the acquisition, Aromatic Steel Private Limited's total holding in Nova Iron & Steel Limited stands at 6,749,000 shares, which constitutes an 18.67% ownership stake in the company.
The financial details of the transaction are outlined in the table below:
| Description | Before Acquisition | Acquisition Details | After Acquisition |
|---|---|---|---|
| Number of Shares (Voting Rights) | 3,418,000 | 3,331,000 | 6,749,000 |
| Percentage of Total Share Capital | 9.46% | 9.22% | 18.67% |
| Date of Transaction | - | July 15, 2026 | - |
| Total Voting Capital (Before/After) | 3,61,39,488 | 3,61,39,488 | 3,61,39,488 |
The transaction was completed via an off-market inter-se transfer. The total equity share capital of Nova Iron & Steel Limited remained unchanged at 3,61,39,488 following the completion of the sale.
Stock Price Movement
As of 11:33, Nova Iron & Steel Ltd shares are edging higher to ₹12.76, representing a 1.19% gain. The stock is currently navigating a wide intraday spread between its low of ₹12.61 and high of ₹12.77.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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