We are enclosing herewith disclosure under Regulation 7(2) of SEBI(Prohibition of Insider Trading) regulations, 2015, which we have received from one of the Promoter, Mr. Aniket Singal ....
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Mr. Aniket Singal, a promoter of Nova Iron & Steel Ltd, has sold his entire holding of 32,73,600 equity shares (9.06% of the company) through an off-market transaction on BSE. The deal, valued at approximately ₹3.60 crore (around ₹110 per share), was executed on 4 June 2026 and disclosed to the company on 9 June 2026 under SEBI's insider trading regulations. Post-sale, Mr. Singal's holding in the company has come down to NIL, indicating a complete exit by this individual promoter. The disclosure was filed via Form C under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015.
A full exit by a promoter who held over 9% may be viewed negatively by retail investors, as it can signal waning insider confidence. The off-market nature of the deal means the shares have moved to a private buyer, and the market may react with caution in the near term.