The Exchange has received the disclosure under Regulation 10(5) in respect of acquisition under Regulation 10(1)(a) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
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Vintage Steel Private Limited and Titanic Steel Industries Private Limited (both part of the promoter group) are acquiring 32,83,600 equity shares (9.09%) from Mr. Aniket Singal at Rs. 11 per share via off-market transfer. After the transaction, Vintage Steel's stake increases from 0.26% to 6.35% and Titanic Steel's stake rises from 3.22% to 6.22%. Aniket Singal exits completely (his 9.09% holding becomes zero). The transaction is exempt from open offer under Regulation 10(1)(a)(iv) as it qualifies as restructuring among Promoters and Promoter Group members. The transfer is scheduled on or after 03/06/2026.
This is an intra-promoter group consolidation with Aniket Singal fully exiting. Existing promoters (Priyanka Miglani, Reward Capital, Aromatic Steel, etc.) remain unchanged. The stock is thinly traded with a fair value of Rs. 10.40 per share, and the acquisition price of Rs. 11 is within permissible limits. No significant change in aggregate promoter holding expected.