Olympian Finvest Private Limited has increased its shareholding in Nova Iron and Steel Limited to 12.92% through an acquisition of 94,000 equity shares. The transaction was executed under Regulation 10(1)(a)(iv) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which exempts the acquirer from making an open offer. The acquisition was part of a restructuring within the promoter group, involving the sale of shares by Aarti Iron & Power Private Limited.

Following the transaction, Olympian Finvest Private Limited holds a total of 46,67,675 equity shares, representing 12.92% of the total paid-up share capital of the target company. The seller, Aarti Iron & Power Private Limited, has divested its entire stake of 94,000 shares, which previously accounted for 0.26% of the share capital. The disclosures regarding this change were submitted to BSE Limited on July 9, 2026.

Shareholding Details

The table below details the movement of shares for the entities involved in the transaction.

Regulatory Filing

The disclosure was submitted by Sachin Kumar, Director of Olympian Finvest Private Limited, in accordance with Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Nova Iron and Steel Limited is listed on BSE Limited with scrip code 513566.

Nova Iron & Steel Ltd received Provisional Attachment Order No. 15/2026 dated June 25, 2026, from the Directorate of Enforcement. The order was issued by the authority in New Delhi and received by the company on June 25, 2026, at 08:09 P.M. The company stated that the order does not have a material impact on its day-to-day operations as it evaluates the implications and prepares appropriate legal recourse.

The disclosure was made to the Bombay Stock Exchange under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Nova Iron & Steel is currently examining the order and, based on legal advice, intends to take all necessary legal steps to protect its interests and contest the matter before the appropriate authorities.

Details of the Regulatory Action

The filing provided specific details regarding the communication from the Directorate of Enforcement. The nature of the action is outlined in the Provisional Attachment Order, though the specific violations or contraventions were not detailed in the public summary, referring instead to the enclosed order.

The company confirmed that it is evaluating the implications of the order and will take appropriate legal recourse. The filing was signed by Dheeraj Kumar, Company Secretary, on June 26, 2026.