Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, read with Schedule III, Part A, Para A, Clause 1, we wish to inform you that in accordance with the authority granted by the ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.6 pts more than Nifty Microcap 250 and 1.3 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Nova Iron & Steel has completed the sale of its major operational assets — including land parcels (operational and non-operational), a DRI (Direct Reduced Iron) Kiln, a Power Plant, and an Induction Furnace — to Shree Balaji Steel & Metal Private Limited for ₹1,22,00,69,085 (about ₹122 crore). The assets contributed substantially to the company's turnover in the last financial year, meaning this sale represents a near-complete disposal of its operating business. The transfer was completed on August 1, 2025, with shareholder approval obtained via a Special Resolution on September 17, 2025. The company says the proceeds will be used to significantly reduce its outstanding debt and improve its financial position. The buyer is not related to the promoters.
This is a major restructuring event — shareholders should note that the company has effectively monetized its core manufacturing assets. The ₹122 crore inflow should meaningfully reduce debt, which is positive for the balance sheet, but the company has limited operating revenue going forward, raising questions about its future business direction. The stock may react to the fact that this significant asset sale was already executed months ago.