Announced Mon, 22 Jun · 13:10 IST
Promoter group member to buy 9.22 percent stake from another promoter entity
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+10.8%1-day move
₹12.50
prior close
₹12.56
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+0.0+0.0+7.1+7.5+10.8+5.4+7.8+1.7-1.1+1.4-2.3+1.5——
Up moveDown movePending
AI summary
Promoter group firm Aromatic Steel Pvt Ltd will acquire 33.31 lakh shares (9.22 percent) of Nova Iron and Steel from another promoter group entity Nilanchal Investments at Rs 11 per share off-market, on or after June 26. After the deal, Aromatic Steel stake rises from 9.46 percent to 18.67 percent, and total promoter group holding goes from 34.94 percent to 44.16 percent. This is internal promoter group restructuring exempt from open offer under SEBI Regulation 10(1)(a)(iv).
Likely market impact
Internal promoter reshuffle, no open offer triggered. Promoter group holding rises to 44.16 percent but stays below 50 percent.