Promoter Group Acquired 9.06% Stake in Nova Iron & Steel Ltd through Inter-Se Transfer
A significant transaction involving equity shares was reported regarding Nova Iron & Steel Limited (Script Code No. 513566). M/s Vintage Steel Private Limited and M/s Titanic Steel Industries Private Limited, both members of the Promoter Group of Nova Iron & Steel Limited, acquired a stake in the company on June 4, 2026.The acquisition was structured as an off-market inter-se transfer for the purpose of restructuring among Promoters and the Promoter Group. Vintage Steel Private Limited and Titanic Steel Industries Private Limited acquired 32,73,600 shares at a price of Rs. 11/- per share. This transaction increased the combined holding of the acquirers in Nova Iron & Steel Limited.
Prior to the acquisition, the total holding of the two companies amounted to 12,59,400 shares, representing 3.48% of the target company's share capital. Following the transfer, their combined holding stood at 45,33,000 shares, equivalent to 12.55% of the total share capital.
Acquisition Details Summary
| Metric | Before Acquisition Holding (Combined) | After Acquisition Holding (Combined) |
|---|---|---|
| Total Shares Held | 12,59,400 | 45,33,000 |
| Shareholding Percentage | 3.48% | 12.55% |
Related Disposal Transaction
Concurrently with the acquisition by the promoter group, the filings disclosed that Mr. Aniket Singal, a Promoter of Nova Iron & Steel Limited, disposed of shares in the company. The sale involved 32,73,600 shares at a price of Rs. 11/- per share. This disposal represented 9.06% of the total diluted share capital before the acquisition was reported by the promoter entities.The transactions were completed on June 4, 2026.
Stock Price Movement
As of 15:00, shares of Nova Iron & Steel Ltd are edging lower, trading at ₹12.02 after slipping by 0.66%. The stock moved within a volatile intraday range, reaching a low of ₹11.88 and topping out at ₹12.47.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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