Nova Iron & Steel Ltd (513566)

Nova Iron & Steel's Board approved an amendment to its Memorandum of Association (MOA) on September 28, 2026, subject to shareholder approval on October 30, 2026. The amendment inserts sub-clause 4 under Clause III(A) to allow the company to trade, deal, import, and export ferrous and non-ferrous metals and allied steel products. This move allows the company to expand from its primary manufacturing activities into commercial trading and distribution. The company reported TTM revenue of ₹383 Cr with a market capitalization of ₹54 Cr.

• Board approved MOA amendment at its meeting held on September 28, 2026
• Shareholder approval scheduled for the 34th Annual General Meeting on October 30, 2026
• Inserts sub-clause 4 under Clause III(A) enabling trading and dealing in ferrous and non-ferrous metals
• Allows acting as commission agents, brokers, warehouse keepers, and consignment agents

Nova Iron & Steel held a board meeting on September 28, 2026, approving the notice for its 34th Annual General Meeting scheduled for October 30, 2026. The board approved the re-appointment and directorship continuation of Mr. Hardev Chand Verma upon attaining 75 years of age. Additionally, the board approved an alteration to Clause III(A) of the Memorandum of Association via a new sub-clause, subject to shareholder approval. M/s J.K. Kabra & Company was also re-appointed as the Cost Auditor for FY 2026-27.

• 34th Annual General Meeting convened for Friday, October 30, 2026, at 1:00 p.m. via VC/OAVM
• Directorship continuation approved for Mr. Hardev Chand Verma upon attaining 75 years of age
• Alteration of Clause III(A) of the Memorandum of Association proposed via insertion of sub-clause 4
• Re-appointment of M/s J.K. Kabra & Company as Cost Auditor for FY 2026-27

Nova Iron & Steel Ltd has informed the exchanges that a meeting of its Board of Directors is scheduled for Friday, September 11, 2026. The board will consider and approve the unaudited financial results for the quarter ended June 30, 2026. The company holds a market capitalization of Rs 41 Cr and reported TTM revenue of Rs 413 Cr.

• Board meeting scheduled for Friday, September 11, 2026
• Agenda is to consider and approve unaudited financial results for the quarter ended June 30, 2026
• Intimation filed pursuant to Regulation 29 of SEBI LODR Regulations, 2015

Nova Iron & Steel Ltd has appointed Mrs. Palak Jindal as an Additional Director in the Non-Executive Independent category effective August 8, 2026. The appointment is for a five-year tenure, subject to shareholder approval, fulfilling regulatory requirements for board diversity. This administrative change comes as the company manages a stressed balance sheet with a negative net worth of ₹-11 Cr and debt of ₹248 Cr. The appointee holds a B.Com degree and is not related to any existing directors.

• Appointment of Mrs. Palak Jindal as Additional Director effective August 8, 2026
• Tenure fixed for a period of 5 years, pending shareholder ratification
• Appointee holds a Bachelor of Commerce degree from Panjab University
• Company operates with a negative net worth of ₹-11 Cr and high debt of ₹248 Cr
• Confirmation provided that the appointee is not debarred by SEBI or any other authority

Olympian Finvest Private Limited, a promoter group entity, has consolidated its holding by acquiring 45,73,675 shares (12.66% stake) from four other promoter entities. The acquisition was conducted at Rs 11 per share, which is a discount to the current market price of Rs 12.7. As this is an inter-se transfer among promoters under SEBI (SAST) exemptions, the total promoter holding remains unchanged at 44.17%, and there is no change in company control or management.

• Acquisition of 45,73,675 equity shares by Olympian Finvest Private Limited
• Transaction price of Rs 11 per share, representing a total value of approximately Rs 5.03 crore
• Olympian Finvest's individual stake increased from 0.26% to 12.92%
• Four promoter entities (Reward Capital, Aarti Iron, Rockland, Shivalikview) exited their positions entirely
• Total promoter group holding involved in the report remains at 44.16%

Aromatic Steel Private Limited has acquired 33,31,000 equity shares of Nova Iron & Steel Ltd, representing a 9.22% stake in the company. The transaction was an inter-se transfer from another promoter group entity, Nilanchal Investments Private Limited, at a price of Rs. 11 per share on July 15, 2026. This acquisition is part of an internal restructuring within the promoter group and is exempt from open offer requirements under SEBI (SAST) Regulations. Following this transfer, Aromatic Steel's total holding has increased to 18.67%, while Nilanchal Investments has exited its entire 9.22% position.

• Acquisition of 33,31,000 shares representing 9.22% of the total share capital
• Transaction executed at Rs. 11 per share, compared to the current market price of Rs. 12.5
• Acquirer's stake increased from 9.46% (34,18,000 shares) to 18.67% (67,49,000 shares)
• Seller (Nilanchal Investments) reduced its holding from 9.22% to 0%
• Transfer conducted under SEBI (SAST) Regulation 10(1)(a)(iv) for promoter group restructuring

Nova Iron & Steel Ltd has disclosed an inter-se transfer of 33,31,000 equity shares between two promoter group entities on July 15, 2026. Aromatic Steel Private Limited acquired the shares from Nilanchal Investments Private Limited for a total consideration of ₹3.66 crore. Consequently, Aromatic Steel's stake increased from 9.46% to 18.67%, while Nilanchal Investments exited its entire 9.22% holding. This transaction is a restructuring within the promoter group and does not change the aggregate promoter shareholding in the company.

• 33,31,000 equity shares were transferred between promoter group entities on July 15, 2026
• Transaction value totaled ₹3,66,41,000, implying a transfer price of approximately ₹11 per share
• Aromatic Steel Private Limited increased its holding from 34,18,000 shares (9.46%) to 67,49,000 shares (18.67%)
• Nilanchal Investments Private Limited reduced its holding from 33,31,000 shares (9.22%) to zero

Aromatic Steel Private Limited, a promoter group entity, acquired 33,31,000 equity shares of Nova Iron & Steel Ltd on July 15, 2026. This acquisition represents 9.22% of the company's total share capital, nearly doubling the entity's holding from 9.46% to 18.67%. The transaction was executed as an off-market inter-se transfer under SEBI (SAST) Regulations, meaning shares moved between existing promoters/promoter groups. The total equity base of the company remains unchanged at 3,61,39,488 shares.

• Acquisition of 33,31,000 equity shares representing 9.22% of the total voting capital
• Entity's stake increased from 34,18,000 shares (9.46%) to 67,49,000 shares (18.67%)
• Transaction conducted as an off-market inter-se transfer on July 15, 2026
• Total share capital of the company is confirmed at 3,61,39,488 equity shares
• Acquisition executed under Regulation 10(1)(a)(iv) of SEBI (SAST) Regulations

Aromatic Steel Private Limited, a promoter group entity, acquired 33,31,000 equity shares of Nova Iron & Steel Ltd on July 15, 2026. This acquisition represents 9.22% of the company's total share capital and was executed as an off-market inter-se transfer. Consequently, the entity's individual holding has increased from 9.46% to 18.67%. As an inter-se transfer among promoters, the aggregate promoter group holding remains unchanged.

• Acquisition of 33,31,000 equity shares representing 9.22% of the total voting capital
• Individual stake of Aromatic Steel Pvt Ltd increased from 9.46% to 18.67%
• Transaction completed via off-market inter-se transfer under Regulation 10(1)(a)(iv) of SEBI SAST
• Total equity share capital of the company remains at 3,61,39,488 shares
• The transaction date was July 15, 2026, with disclosure filed on July 17, 2026