This is to inform you that the Company has received a request via email dated 22.07.2025, from M.s Ambey Steel and Power Private Limited, an entity forming part of Promoter Group of the ....
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Nova Iron & Steel Ltd has received a request from Ambey Steel & Power Private Limited, an entity currently classified under the company's Promoter Group, asking to be reclassified as a 'Public' shareholder under SEBI LODR Regulation 31A. Ambey Steel & Power currently holds 0% of the company's total shareholding and has confirmed it does not exercise any management control, holds no special rights, and has no pending regulatory actions against it. The company will place this request before its Board of Directors for consideration, after which shareholder and stock exchange approvals will also be required. The reclassification process typically takes a few months to complete once initiated.
Since Ambey Steel & Power already holds 0% of shares, this is largely a procedural/regulatory reclassification and is unlikely to materially affect shareholding patterns or the stock price. It simply formally removes the entity from the promoter group classification.