Shareholding6 Jun 2026, 11:01 am
Nova Iron & Steel: Vintage & Titanic Steel acquire 9.06% stake
AI Summary
Vintage Steel Private Limited and Titanic Steel Industries Private Limited have acquired 32,73,600 shares, representing 9.06% of the total capital, in Nova Iron & Steel Ltd. This acquisition was made from Mr. Aniket Singal as part of a restructuring exercise among promoters and the promoter group. The transaction falls under Regulation 10(1)(a)(iv) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, exempting the acquirers from making an open offer. Disclosure under Regulation 10(5) was made within the specified timeline.
Key Highlights
- Vintage & Titanic Steel acquired 32.73 lakh shares (9.06%) in Nova Iron & Steel.
- Acquisition is part of promoter group restructuring.
- Transaction is exempt from open offer under SEBI regulations.
- Disclosure made under Regulation 10(6) of SEBI (SAST) Regulations.
- Post-transaction shareholding of Vintage Steel is 3.48%, Titanic Steel is 5.58%.
Price Impact
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