Nova Iron & Steel Ltd — Important, 17-11-2025: Company Update

Nova Iron and Steel has completed the sale of significant assets, including operational/non-operational land parcels, a DRI Kiln, Power plant, and Induction Furnace. This strategic move aims to significantly reduce outstanding debt and strengthen the company's financial position. These assets had substantially contributed to the company's revenue in the last financial year. The sale, completed on August 1, 2025, fetched ₹122.00 Cr. The buyer, Shree Balaji Steel & Metal Private Limited, is not part of the promoter group. Shareholders had approved this asset realization via a special resolution.