Detailed Summary

Transaction Details

  • Acquirers: M/s Vintage Steel Private Limited and M/s Titanic Steel Industries Private Limited
  • Seller: Mr. Aniket Singal (Promoter of Nova Iron and Steel Limited)
  • Number of Shares Acquired: 32,73,600 equity shares
  • Percentage of Share Capital: 9.06% of total paid-up capital
  • Transaction Price: ₹11 per share (off-market transaction)
  • Transaction Date: 04/06/2026
  • Total Transaction Value: ₹3,60,09,600 (based on 32,73,600 shares × ₹11)

Shareholding Changes

Pre-Transaction Holding (as of 31/03/2026):
  • Vintage Steel Private Limited: 94,000 shares (0.26%)
  • Titanic Steel Industries Private Limited: 11,65,400 shares (3.22%)
  • Aniket Singal: 32,73,600 shares (9.06%)
Post-Transaction Holding:
  • Vintage Steel Private Limited: 22,93,415 shares (6.35%)
  • Titanic Steel Industries Private Limited: 22,49,585 shares (6.22%)
  • Aniket Singal: 0 shares (0%)
  • Total Acquirer Holding: 45,33,000 shares (12.55%)

Promoter Group Structure

Both acquirer companies and the seller are part of the promoter group and have been named as Persons Acting in Concert (PAC) in the shareholding patterns filed for the last three years (31/03/2024, 31/03/2025, 31/03/2026).

Pricing Compliance

  • The shares are infrequently traded
  • Price determined as per Clause (e) of Sub-regulation (2) of Regulation 8: ₹10.40 per share
  • Acquisition price of ₹11 per share is within 25% limit of the calculated price (₹10.40 + 25% = ₹13.00)

Company Capital Structure

  • Total Paid-up Equity Capital: 3,61,39,488 shares
  • Promoter & Promoter Group Holding (as of 31/03/2026): 1,59,59,675 shares (44.16%)
  • Public Holding: 2,01,79,813 shares (55.84%)

Document Flow

1. Vintage Steel filed disclosure with BSE on 28/05/2026 under Regulation 10(5)

2. Transaction executed on 04/06/2026

3. Vintage Steel filed post-transaction report with BSE on 05/06/2026 under Regulation 10(6)

4. Aniket Singal filed Regulation 29(2) disclosure with BSE on 09/06/2026

5. Vintage Steel filed Regulation 29(1) disclosure with BSE on 10/06/2026

6. Vintage Steel filed comprehensive report with SEBI on 15/06/2026 under Regulation 10(7)

7. Nova Iron forwarded the disclosure to BSE on 16/06/2026

Rationale

The transfer was conducted for "restructuring among Promoters and Promoter Group" of the company.

Financial Impact

  • The transaction represents a transfer of 9.06% of the company's equity among promoter group entities
  • No change in total promoter group holding (remains at 44.16%)
  • No dilution impact on public shareholders