The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Vintage Steel Pvt Ltd & Titanic Steel Industries Pvt Ltd
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Vintage Steel Pvt Ltd and Titanic Steel Industries Pvt Ltd, acting jointly as acquirers, have acquired 32,73,600 equity shares (9.06% of paid-up capital) of Nova Iron & Steel Ltd from Mr. Aniket Singal at Rs. 11 per share. The transaction was carried out under Regulation 10(1)(a)(iv) of SEBI (SAST) Regulations, 2011, which exempts inter se transfers among the promoter and promoter group from the open offer requirement. Post-transaction, the combined holding of the two acquirers stands at 45,33,000 shares (12.55%), up from 3.48% earlier, while Aniket Singal's holding has come down to nil from 9.06%. The stated rationale is internal restructuring within the promoter and promoter group entities.
This is a reshuffle within the promoter family rather than a change in overall promoter control, so the total promoter holding of the company remains effectively unchanged. Shareholders should note that effective control continues to rest with the same promoter group, and there is no impact on free float or open offer obligation.