Promoter group entities Vintage Steel Private Limited and Titanic Steel Industries Private Limited have increased their combined shareholding in Nova Iron and Steel Limited to 12.55% through an off-market inter-se transfer. The acquisition involved the purchase of 32,73,600 equity shares from promoter Aniket Singal for a total consideration of ₹3,60,09,600. The transaction was executed on June 4, 2026, and was undertaken for the purpose of restructuring among promoters and the promoter group.

The acquisition was made in reliance upon the exemption provided under Regulation 10(1)(a)(iv) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosures confirmed that the acquirers and the seller are deemed to be Persons Acting in Concert (PAC). The price of ₹11 per share was determined based on the price for infrequently traded shares as per Regulation 8, which was calculated at ₹10.40 per share. The acquirers confirmed that the acquisition price was not higher by more than 25% of the calculated price.

Shareholding Details

The detailed changes in the shareholding pattern following the transaction are outlined below:

Vintage Steel Private Limited acted as the correspondent acquirer for the disclosures. The requisite fees of ₹1,50,000 plus GST were paid to SEBI. The total equity share capital of Nova Iron and Steel Limited remains unchanged at 3,61,39,488 shares.

Ms. Kusum Naruka has resigned as Independent Director of nova iron & steel with immediate effect, citing professional commitments. Her resignation, effective June 3, 2026, was intimated to the exchanges on June 9, 2026. Consequently, she has ceased to be a member of the Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee.

The company confirmed that there are no other material reasons for the resignation beyond those stated in her letter. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Ms. Naruka holds a directorship in Marble Finvest Limited, where she serves on the Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee. She confirmed that no other material reasons exist for her departure from the board of Nova Iron and Steel Limited.

The resignation was submitted in a letter dated June 3, 2026. The company has enclosed the necessary confirmations from the Independent Director as required under Clause 7B of Para A of Part A of Schedule III to the SEBI (LODR) Regulations, 2015.

Details of Resignation