Aromatic Steel Acquires 9.22% Stake in Nova Iron & Steel

Aromatic Steel Private Limited has acquired 33,31,000 equity shares, representing 9.22% of the total capital, in Nova Iron & Steel Limited from Nilanchal Investments Private Limited. The transaction, priced at ₹11 per share, was conducted for the purpose of restructuring among promoters and the promoter group. This acquisition is made under an exemption provided in Regulation 10(1)(a)(iv) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, thus exempting Aromatic Steel from making an open offer. Following the transaction, Aromatic Steel's shareholding in Nova Iron & Steel increased from 9.46% to 18.67%.