This is to inform you that the company has received a request vide email dated March 31, 2026 from the promoters, namely Mr. Aniket Singal, Ms. Priyanka Ankit Miglani, and Ms. Radhika Saurabh ....
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Three promoters of Nova Iron & Steel Ltd — Mr. Aniket Singal (32,73,600 shares, 9.06%), Ms. Priyanka Ankit Miglani (5,000 shares, 0.01%), and Ms. Radhika Saurabh Dhoot (5,000 shares, 0.01%) — have requested reclassification from the 'Promoter' category to the 'Public' category under SEBI LODR Regulation 31A. Together, they hold 32,83,600 shares, which is 9.09% of the paid-up share capital. Each promoter has confirmed that they do not exercise any control over the company's affairs and meet all the eligibility conditions under the regulation. The Board of Directors will consider the request and the matter will also require shareholder and stock exchange approvals.
If approved, the promoter group holding in the company will reduce, potentially increasing the public float and the proportion of shares classified as 'public.' This is a procedural reclassification and not a sale of shares, so there is no immediate impact on shareholding value, though it signals that these three individuals no longer have any managerial or controlling role in the company.