Nova Iron and Steel Limited has received formal requests from three promoters seeking reclassification from the "Promoter" category to the "Public" category under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The requests were received via email on June 15, 2026, from:
- Mr. Aniket Singal (Address: 4 Amrita Shergill Road, Loadi Road, Jor Bagh, Delhi-110003)
- Ms. Priyanka Ankit Miglani (Address: 1st Floor, Samruddhi, 22, Atlamount Road, Mumbai 400026)
- Ms. Radhika Saurabh Dhoot (Address: 99, Videocon House, Manav Mandir Road, Nepeansea Road, Mumbai-400006)
All three promoters currently hold NIL equity shares in the company, constituting 0% of the paid-up share capital. They have certified that:
- They along with related persons do not hold more than 10% of total voting rights
- They do not exercise control over company affairs directly or indirectly
- They have no special rights through formal or informal arrangements including shareholder agreements
- They are not represented on the board of directors (including no nominee director)
- They do not act as key managerial persons of the company
- They are not wilful defaulters as per RBI guidelines
- They are not fugitive economic offenders
- There is no pending regulatory action against them
The promoters have undertaken to continue complying with conditions mentioned in sub-clauses (i), (ii) and (iii) of clause (b) of Regulation 31A(3) at all times post-reclassification, and conditions mentioned in sub-clauses (iv) and (v) for at least three years from reclassification date.
The company will present these reclassification requests to the Board of Directors for consideration in the forthcoming board meeting. The process will include obtaining required approvals from the stock exchange.
Financial Impact
No financial impact quantified in the disclosure. The promoters hold zero shares, so no change in shareholding pattern or capital structure.