Promoter group entities Olympian Finvest Private Limited and Aromatic Steel Private Limited have acquired a combined 7,90,4675 equity shares of nova iron & steel from fellow promoter group members, consolidating their stake through an off-market restructuring. The transactions, disclosed on July 23, 2026, were executed at a price of ₹11 per share and exempted from open offer obligations under Regulation 10(1)(a)(iv) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This internal realignment ensures the promoter group maintains its aggregate shareholding of 44.16%, with no change in total promoter ownership or voting rights.

The acquisition was structured to comply with regulatory mandates, including prior intimation to stock exchanges under Regulation 10(5) on June 20, 2026, and post-acquisition reporting under Regulation 10(6) on July 6 and July 9, 2026. Both acquirers paid a fee of ₹1,50,000 plus 18% GST (totaling ₹1,77,000) to the Securities and Exchange Board of India (SEBI) for the exemption. The acquisition price was confirmed to be within 25% of the fair value calculated under Regulation 8(2)(e), which stood at ₹10.40 per share for this infrequently traded stock.

Transaction Details

The restructuring involved two distinct blocks of shares transferred between promoter group entities:

Olympian Finvest increased its holding from 94,000 shares (0.26%) to 46,67,675 shares (12.92%). Simultaneously, Aromatic Steel raised its stake from 34,18,000 shares (9.46%) to 67,49,000 shares (18.67%). The sellers, including Reward Capital Services and Nilanchal Investments, exited their positions in Nova Iron & Steel entirely as part of this group-wide consolidation.

Regulatory Compliance and Disclosures

All parties adhered to Chapter V disclosure requirements. Changes in shareholding and voting rights were reported under Regulation 29(2) on July 1, 2026, for Olympian Finvest and Reward Capital Services, and on July 17, 2026, for Aromatic Steel and Nilanchal Investments. The company’s Company Secretary, Dheeraj Kumar, submitted the final disclosure to the Bombay Stock Exchange on July 24, 2026. The promoter group’s total shareholding remains unchanged at 1,59,59,675 shares (44.16%), while public shareholding stands at 55.84%.

Aromatic Steel Private Limited has increased its shareholding in [Nova Iron & Steel Limited](nova iron & steel) to 18.67% through an off-market inter-se transfer of equity shares. The transaction, which took place on July 15, 2026, involved the purchase of 33,31,000 shares carrying voting rights from Nilanchal Investments Private Limited. This acquisition was disclosed to BSE Limited under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, and Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Prior to the acquisition, Aromatic Steel Private Limited held 34,18,000 shares, representing 9.46% of the total paid-up share capital of Nova Iron & Steel Limited. Following the purchase, the acquirer's total holding has risen to 67,49,000 shares. The total equity share capital of the target company remains unchanged at 3,61,39,488 shares. The transaction value was recorded at ₹3,66,41,000.

Acquisition Details

The acquisition was executed as an off-market inter-se transfer in accordance with Regulation 10(1)(a)(iv) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquirer confirmed that there are no shares encumbered, nor are there any warrants or convertible securities held by the acquirer in the target company. The disclosures were received by Nova Iron & Steel Limited from both promoter group members on July 17, 2026.

Shareholding Pattern

The following table outlines the changes in the acquirer's shareholding:

Aromatic Steel Private Limited is classified as belonging to the promoter or promoter group of Nova Iron & Steel Limited. The disclosure was signed by Abhikush, Director of Aromatic Steel Private Limited, on July 17, 2026.