Olympian Finvest Acquires Shares in Nova Iron & Steel Ltd, Raising Holding Percentage
Olympian Finvest Private Limited, identified as a Promoter group member, completed an off-market inter-se transfer of shares in Nova Iron & Steel Limited. The acquisition, which occurred on June 30, 2026, significantly increased the Finvest group's stake in the target company.The transaction involved Olympian Finvest acquiring 42,91,675 shares carrying voting rights in Nova Iron & Steel Limited. This acquisition represented 11.88% of the total diluted share/voting capital of the company at the time of the purchase.
Prior to this acquisition, M/s. Olympian Finvest Private Limited held 94,000 shares carrying voting rights, representing 0.26% of the target company's total structure. Following the completed acquisition, the holding increased substantially.
The key metrics regarding the shareholding change are presented below:
| Metric | Before Acquisition (As of pre-acquisition) | During Transaction | After Acquisition (Post-transaction) |
|---|---|---|---|
| Shares Carried by Olympian Finvest | 94,000 shares | 42,91,675 shares acquired | 43,85,675 shares |
| Percentage of Holding | 0.26% (of total) | 11.88% (acquisition increase) | 12.14% |
| Total Voting Capital of Nova Iron & Steel | 3,61,39,488 | N/A | 3,61,39,488 |
The acquisition was executed through an off-market inter-se transfer. The total voting capital of the target company remained at 3,61,39,488 both before and after this particular transaction.
Stock Price Movement
Nova Iron & Steel Ltd. shares settled at ₹12.67 on Wednesday, trailing down 0.31%. The stock’s performance throughout the session ranged significantly, reaching a low of ₹12.07 but peaking intraday at ₹13.78.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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