Executive Summary
The May 23, 2026, MCA Merger & Acquisition Tracker reveals a market dominated by regulatory disclosures (SEBI SAST) with limited financial detail, but two high-conviction, high-materiality transactions stand out: Anupam Rasayan's ₹2,198 Cr acquisition of Bliss GVS Pharma (74.2% stake) and the NCLT-approved amalgamations of NIIT Ltd (with NIIT IFBI & RPS Consulting) and Salasar Techno Engineering (with EMC Ltd).
These three deals signal a clear trend of strategic consolidation, particularly in pharma and engineering, with appointed dates as early as October 2024. Insider activity is a key theme, with NRB Bearings showing a complex pattern of promoter de-leveraging (unpledging shares) while simultaneously selling a small stake, and MTAR Technologies witnessing a small promoter sale. The period-over-period data is sparse, but the forward-looking data (NCLT approvals, appointed dates) provides a clear catalyst calendar. The overall sentiment is neutral-to-positive, driven by the few material transactions, while the majority of filings are low-materiality procedural disclosures that create noise. The most actionable intelligence lies in the three major consolidation events and the evolving insider activity at NRB Bearings.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: M&A
Tracking the trend? Catch up on the prior India Merger Acquisition MCA Regulatory Filings digest from May 22, 2026.
Investment Signals (8)
- Anupam Rasayan India Ltd (BULLISH)▲
Board approved acquisition of 74.2% in Bliss GVS Pharma for ₹2,198.54 Cr (₹299/share), a strategic vertical integration into finished dosage forms with a global footprint in 60+ countries. Deal is not a related party transaction.
- Salasar Techno Engineering Ltd (BULLISH)▲
NCLT approval for amalgamation of EMC Ltd with an appointed date of Oct 23, 2024, creating a larger, more diversified engineering entity. This unlocks immediate operational synergies.
- NIIT Ltd (BULLISH)▲
NCLT approval for amalgamation of NIIT IFBI and RPS Consulting, consolidating its financial services and consulting training verticals under one entity. Appointed date is April 1, 2026.
- NRB Bearings Ltd (BULLISH)▲
Promoter trust (Trilochan Singh Sahney Trust 1) unpledged 15.51 lakh shares (1.6% of capital) while selling only 3.55 lakh shares (0.37%), resulting in a net increase in unencumbered voting shares. This is a positive de-leveraging signal.
- Jaiprakash Power Ventures Ltd▲
Promoter (Jaiprakash Associates) disclosed disposal of a massive 164.48 crore shares, but the buyer and consideration are undisclosed. The sheer size of the block (likely a controlling stake) signals a potential change in control or significant de-leveraging. [NEUTRAL/BULLISH]
- Jupiter Infomedia Ltd (NEUTRAL)▲
Former promoter Umesh Vasantlal Modi sold 1,00,000 shares (1% of capital), reducing his stake to 5.77%. He is no longer a promoter or director, confirming a clean exit and transfer of control to new acquirers.
- PPFAS Mutual Fund in Indraprastha Gas Ltd (BULLISH)▲
The fund crossed a substantial acquisition threshold, signaling long-term institutional confidence in IGL's fundamentals and defensive moat.
- Hindustan Foods Ltd▲
Multiple SAST disclosures (Reg 29(1), 29(2), 10(6)) from Sameer Kothari & Others, with the sector listed as 'technology'. This could indicate a strategic pivot or a tech-related acquisition, warranting close monitoring. [NEUTRAL/BULLISH]
Risk Flags (8)
- NRB Bearings Ltd / Promoter Pledge Risk [HIGH RISK]▼
Despite the unpledging, 67.25% of promoter holding remains encumbered. The security cover of 4.5:1 is adequate, but any sharp decline in the stock price could trigger margin calls.
- MTAR Technologies Ltd / Insider Selling [MEDIUM RISK]▼
Promoter Kavitha Reddy Gangapatnam sold 22,741 shares (0.07% of capital) on the open market. While small in percentage, any promoter sale in a high-growth defence stock is a negative signal.
- Jaiprakash Power Ventures Ltd / Information Asymmetry [HIGH RISK]▼
The promoter's disposal of 164.48 crore shares without disclosing the buyer or price creates massive information asymmetry. This could precede a distressed sale or a change in control at an unknown valuation.
- ▼
The SAST disclosure from Doxtrec Trade Pvt Ltd lacks any deal details. The absence of a strategic rationale or valuation creates uncertainty for minority shareholders.
- Kamdhenu Ltd / Aborted Acquisition [MEDIUM RISK]▼
The company canceled its proposed property purchase in Alwar due to due diligence issues. This signals potential weakness in asset acquisition strategy or undisclosed title/regulatory problems.
- Kavveri Defence & Wireless Technologies Ltd / Dilution Risk [MEDIUM RISK]▼
Promoter Chenna Reddy Sanketh Ram Reddy's stake was diluted from 8.12% to 4.64% due to a preferential allotment of 2.57 crore shares. While his absolute holding remained unchanged, the massive dilution signals potential equity overhang.
- Paisalo Digital Ltd / Pledge Risk [LOW RISK]▼
Promoters pledged an additional 40 lakh shares for margin trading facilities. While the pledged amount is small relative to total holdings, repeated pledging for margin trading is a risk if the stock price falls.
- Multiple Low-Materiality Filings [LOW RISK]▼
12 out of 24 filings (e.g., Umiya Tubes, Jaro Institute, Naturo Indiabull) are purely procedural with materiality scores of 1-3/10. These create noise and can distract from material events.
Opportunities (8)
- Anupam Rasayan India Ltd / Pharma Vertical Integration (OPPORTUNITY)◆
The acquisition of Bliss GVS Pharma at ₹299/share offers a strategic entry into finished dosage forms. Post-merger, Anupam can offer a full value chain (KSMs to formulations), potentially expanding margins. The 6-month closing timeline provides a catalyst.
- Salasar Techno Engineering Ltd / Post-Merger Re-rating (OPPORTUNITY)◆
With NCLT approval for the EMC amalgamation (appointed date Oct 2024), the combined entity can realize cost and revenue synergies. The stock may re-rate as the market prices in the larger scale.
- NIIT Ltd / Consolidation Catalyst (OPPORTUNITY)◆
The amalgamation of NIIT IFBI and RPS Consulting is a positive structural move. The appointed date of April 1, 2026, means the financial impact will be visible in the next quarterly results, providing a near-term catalyst.
- NRB Bearings Ltd / De-leveraging Story (OPPORTUNITY)◆
The promoter trust's net increase in unencumbered shares (from 2.35% to 3.59% voting) is a strong signal of financial discipline. If the trend of unpledging continues, it could lead to a re-rating as pledge risk diminishes.
- Indraprastha Gas Ltd / Institutional Accumulation (OPPORTUNITY)◆
PPFAS Mutual Fund's stake crossing a threshold is a strong vote of confidence. IGL's defensive business model and consistent cash flows make it an attractive long-term hold.
- Hindustan Foods Ltd / Potential Tech Pivot (OPPORTUNITY)◆
The repeated SAST disclosures with a 'technology' sector classification suggest a possible acquisition in the tech space. If this is a strategic pivot, it could open a new growth vector for the food processing company.
- Jupiter Infomedia Ltd / Clean Slate (OPPORTUNITY)◆
The former promoter's complete exit and sale of residual stake creates a clean ownership structure for the new acquirers. This could lead to a focused turnaround strategy.
- Windsor Machines Ltd / Asset Monetization (OPPORTUNITY)◆
The company completed the acquisition of a 77,198 sqm land parcel in Rajkot for ₹55 Cr. This could be used for capacity expansion or as a balance sheet asset, providing future flexibility.
Sector Themes (5)
- Strategic Consolidation in Pharma & Engineering◆
Two of the three most material deals (Anupam Rasayan-Blis GVS Pharma and Salasar Techno-EMC) are in pharma and engineering, respectively. This indicates a broader trend of companies seeking vertical integration and scale to improve competitiveness. The NIIT amalgamation reinforces this in the education/training sector.
- Promoter De-leveraging vs. Pledge Risk◆
NRB Bearings exemplifies a positive de-leveraging trend (unpledging shares), while Paisalo Digital and the still-high encumbered stake at NRB highlight persistent pledge risk. Investors should differentiate between companies actively reducing debt and those using pledges for margin trading.
- Information Asymmetry in Large Block Deals◆
The Jaiprakash Power Ventures filing, where a massive 164.48 crore share disposal was disclosed without a buyer or price, highlights a significant information gap. This is a recurring risk in promoter-driven transactions where full details emerge only later.
- Noise vs. Signal in SAST Filings◆
Over 50% of the filings (12 out of 24) are low-materiality SAST disclosures with no financial details. This creates a high noise-to-signal ratio. The actionable intelligence is concentrated in the 3-4 high-materiality events (Anupam, Salasar, NIIT, Jaiprakash Power).
- Institutional Accumulation in Defensive Sectors◆
PPFAS Mutual Fund's stake increase in IGL, a city gas distribution monopoly, signals a preference for defensive, cash-generating businesses amid market uncertainty. This could be a broader institutional trend.
Watch List (8)
- Anupam Rasayan India Ltd / Deal Closure👁
Watch for the completion of the SPA and the open offer for Bliss GVS Pharma. The 6-month timeline (by Nov 2026) is a key catalyst. Also monitor any regulatory approvals that may be required.
- Jaiprakash Power Ventures Ltd / Buyer Disclosure👁
The identity of the buyer of the 164.48 crore shares and the price paid is critical. This could be a distressed sale to a financial investor or a strategic acquirer. A disclosure is expected under SAST regulations.
- NRB Bearings Ltd / Promoter Pledge Reduction👁
Monitor if the promoter group continues to unpledge shares. A reduction below 50% encumbered level would be a strong positive catalyst. The next scheduled event (e.g., quarterly results) could provide an update.
- Hindustan Foods Ltd / Tech Acquisition Details👁
The company's sector being listed as 'technology' is anomalous. Watch for a detailed disclosure on the nature of the acquisition by Sameer Kothari & Others. This could be a major strategic shift.
- NIIT Ltd / ROC Filing👁
The scheme of amalgamation is effective only after filing the NCLT order with the Registrar of Companies. Watch for the completion of this procedural step, which will trigger the merger.
- Salasar Techno Engineering Ltd / Post-Merger Financials👁
With an appointed date of Oct 2024, the next quarterly results will be the first to reflect the combined financials of STEL and EMC Ltd. This is a key event for assessing synergy realization.
- Kamdhenu Ltd / Re-evaluation of Property Deal👁
The company stated the property purchase 'may be reconsidered later'. Watch for any new board meeting or disclosure regarding a revised deal or a different asset acquisition.
- Kavveri Defence & Wireless Technologies Ltd / Preferential Allottee Details👁
The massive preferential allotment of 2.57 crore shares needs scrutiny. The identity of the non-promoter allottees and the pricing of the allotment will determine the dilution impact on minority shareholders.
Filing Analyses
(24)
23-05-2026
Omega Interactive Technologies Ltd. has received a disclosure under Regulation 29(1) of SEBI (SAST) Regulations, 2011 from Doxtrec Trade Pvt Ltd. The filing indicates a potential substantial acquisition of shares, but no specific deal structure, valuation, or strategic rationale is disclosed. The event is purely informational at this stage, with no financial or operational details provided.
- · The disclosure is made under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.
- · The acquirer is Doxtrec Trade Pvt Ltd, but no further details about the entity are provided.
- · No information on the number of shares acquired, percentage of stake, or transaction value is disclosed in the filing.
23-05-2026
Hindustan Foods Ltd has filed a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011, regarding a substantial acquisition of shares by Sameer Kothari & Others. The filing is a regulatory disclosure and does not provide any financial details, deal structure, or strategic rationale. No quantitative data, valuation metrics, or timeline for the acquisition are disclosed, limiting the ability to assess materiality or impact.
- · Filing is under Regulation 29(2) of SEBI SAST Regulations, which typically requires disclosure when an acquirer crosses certain thresholds (e.g., 5%, 10%, 14%, 54%, 74%) or makes a public announcement for an open offer.
- · The acquirer is 'Sameer Kothari & Others', indicating a group or PAC (persons acting in concert).
- · No details on the number of shares acquired, percentage of stake, or consideration are provided in the summary.
- · The company is classified under the technology sector, but the filing does not confirm this or provide sector-specific context.
23-05-2026
Anupam Rasayan India Ltd. announced the board's approval to acquire up to 74.20% equity and control of Bliss GVS Pharma Ltd. for a total cash consideration of up to ₹2,198.54 Cr, comprising a share purchase agreement (43.30% at ₹299/share) and an open offer (26% at ₹299/share). The acquisition aims to strengthen Anupam Rasayan's presence across the pharmaceutical value chain from KSMs to finished dosage forms, leveraging Bliss GVS's established capabilities in niche dosage forms and a global footprint in over 60 countries. However, the transaction is subject to customary conditions and expected to close within 6 months, with no regulatory approvals currently required.
- · Bliss GVS Pharma was incorporated on December 11, 1984.
- · The SPA does not involve any related party transactions; the promoter/promoter group/group companies of Anupam Rasayan have no interest in Bliss GVS Pharma.
- · No governmental or regulatory approvals are required for the SPA.
- · The open offer will be completed in accordance with SEBI Takeover Regulations.
- · Anupam Rasayan's board also authorized acquisition of 15% to 100% of equity in intermediate entities to facilitate the transaction.
- · The board meeting started at 12:45 PM IST and concluded at 4:55 PM IST on May 23, 2026.
23-05-2026
Windsor Machines Limited has completed the acquisition of a non-agriculture land parcel in Chibhda, Rajkot, Gujarat, for a consideration of ₹55.00 Crore. The land, measuring approximately 77,198 square meters, was previously held on a long-term lease and the transaction was approved by the Board on November 8, 2025, with registration finalized on May 22, 2026. The acquisition is not a related party transaction and the seller is M/s. Swastik Realty.
- · The land is located at Revenue Survey Nos. 1147, 1148, 1149 and 1177, Village Chibhda, Taluka Lodhika, District Rajkot, Gujarat.
- · The acquisition was approved by the Board of Directors on November 8, 2025, and the registration of the Deed of Conveyance was completed on May 22, 2026.
- · The seller, M/s. Swastik Realty, is not related to the promoter/promoter group/group companies.
- · The transaction does not fall within related party transactions and is done at arm's length.
23-05-2026
Trilochan Singh Sahney Trust 1 unpledged 15,51,161 equity shares (1.6% of total share capital) of NRB Bearings Ltd on May 22, 2026, due to prepayment of loan to Aditya Birla Capital Ltd. Post-unpledge, promoter holding remains 49.29%, but encumbered shares are still high at 67.25% of promoter holding. The security value is ₹1187.15 Cr against an amount involved of ₹263 Cr, providing a cover of 4.5:1.
- · The unpledge was in favor of Aditya Birla Capital Limited.
- · Other promoters (Harshbeena Sahney Zaveri, etc.) had no changes in encumbrance.
- · Post-event, encumbered shares as % of promoter holding is 67.25%.
- · Security value cover ratio is 4.5:1.
23-05-2026
The filing is a disclosure under SEBI (SAST) Regulation 29(1) for a substantial acquisition of shares in Kavveri Defence & Wireless Technologies Limited by Upendrakumar Narottamdas Shah HUF and its Persons Acting in Concert (PACs). The filing does not disclose the deal size, valuation, or specific financial terms. No financial metrics, promoter changes, or scheduled events are mentioned. The disclosure is purely procedural under SEBI SAST regulations, providing no quantitative data for investment analysis.
23-05-2026
Hindustan Foods Ltd has filed a disclosure under Regulation 29(1) of SEBI (SAST) Regulations, 2011 for Sameer Kothari & Others. The filing is a regulatory disclosure related to substantial acquisition of shares, but no specific deal structure, valuation, or strategic rationale is provided. The sector is classified as technology, though Hindustan Foods is primarily a food processing company, indicating a possible sector misclassification or a technology-related acquisition.
- · Filing date: May 23, 2026
- · Source: BSE
- · Regulation: SEBI SAST Regulation 29(1)
- · Acquirer: Sameer Kothari & Others
- · Sector classified as technology (may be inconsistent with Hindustan Foods' primary business)
23-05-2026
Jaiprakash Associates Limited, the promoter of Jaiprakash Power Ventures Limited, has disclosed the disposal of 1,64,48,30,118 equity shares of Jaiprakash Power Ventures Limited under Regulation 29(2) of the SEBI Takeover Regulations. The filing does not provide the consideration amount, the buyer, or the resulting shareholding percentage, making it a significant but incomplete disclosure for investors.
- · The disposal involves 1,64,48,30,118 equity shares, which is a substantial block of shares.
- · The filing does not disclose the sale price, buyer identity, or the resulting promoter shareholding percentage.
- · The disclosure is made under Regulation 29(2) of SEBI Takeover Regulations, which typically requires disclosure of any acquisition or disposal of shares exceeding specified thresholds.
23-05-2026
Promoter Kavitha Reddy Gangapatnam sold 22,741 equity shares of MTAR Technologies Limited on May 21, 2026, reducing her shareholding from 0.79% to 0.72% of the total voting capital. The sale was executed on the open market and disclosed under SEBI Takeover Regulations.
- · The sale was made on May 21, 2026, and disclosed on May 22, 2026.
- · The promoter's holding decreased from 0.79% to 0.72% of total voting capital.
- · The total voting capital of the company is 3,07,59,591 equity shares of ₹10 each.
- · The sale was executed on the open market.
- · Other persons acting in concert (PACs) with the seller include Venkata Suprathik Reddy Gangapatnam, Usha Reddy Chigarapalli, D Anitha Reddy, and P Jayaprakash Reddy.
23-05-2026
Hindustan Foods Ltd filed a disclosure under Regulation 10(6) of SEBI (SAST) Regulations, 2011 for Sameer Kothari & Others. The filing is a regulatory compliance disclosure regarding substantial acquisition of shares, but no specific deal structure, valuation, or strategic rationale details are provided. The sector is listed as technology, though Hindustan Foods is primarily a food manufacturing company, which may indicate a sector misclassification or a strategic shift.
- · Filing date: May 23, 2026
- · Source: BSE
- · Sector classified as technology, but Hindustan Foods Ltd is primarily in the food processing sector
- · Disclosure under Regulation 10(6) of SEBI SAST Regulations, 2011
23-05-2026
Trilochan Singh Sahney Trust 1 (a PAC with the Promoter) disclosed the sale of 3,55,208 equity shares (0.37% of total capital) of NRB Bearings Limited via open market on May 21-22, 2026, along with the release of 15,51,161 pledged shares (1.60% of capital) on May 22, 2026. Post-transaction, the Trust’s total holding (voting + encumbered) decreased from 5.45% to 5.09% of the total capital, with encumbered shares reducing from 3.10% to 1.50%—a significant reduction in pledged exposure.
- · Sale of 3,10,239 shares on May 21 and 44,969 shares on May 22 — a total of 3,55,208 equity shares (0.37%) sold in the open market.
- · Before the transactions, the Trust held 22,79,761 voting shares (2.35%) and 30,05,000 pledged shares (3.10%). After, it holds 34,75,714 voting shares (3.59%) and 14,53,839 pledged shares (1.50%). Net holding decreased from 52,84,761 (5.45%) to 49,29,553 (5.09%).
- · The release of pledged shares (15,51,161 shares) was concurrent with the sales, resulting in a net increase in unencumbered voting shares by about 11,95,953 shares (from 22,79,761 to 34,75,714).
- · The face value per share is ₹2, and total share capital remained at 9,69,22,600 shares.
23-05-2026
Umiya Tubes Limited filed a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011, regarding Bhikhaji Kacharaji Chavda. The filing is a procedural regulatory disclosure and does not contain any financial details, deal structure, valuation, or strategic rationale. No quantitative data, named entities beyond the acquirer, or scheduled events are provided. The analysis is limited due to the lack of substantive information.
23-05-2026
Promoters Santanu Agarwal and Sunil Purushottanm Agarwal each pledged 20,00,000 equity shares (face value Re. 1 each) of Paisalo Digital Limited on May 21, 2026, in favor of Motilal Oswal Financial Services Limited solely for availing margin trading facility, with no transfer of ownership or control. Post-pledge, Santanu Agarwal's total encumbered shares stand at 50,21,000 (0.55% of total share capital), and Sunil Purushottanm Agarwal's at 50,00,000 (0.55%). The pledges are part of a series of recent encumbrances, with total security cover values ranging from Rs. 1.08 Crore to Rs. 10.06 Crore, and the pledged shares represent a small fraction of total promoter holdings.
- · The pledges were created on May 21, 2026, and reported on May 22, 2026.
- · Santanu Agarwal's total promoter shareholding is 3,87,15,000 shares (4.26% of total share capital).
- · Sunil Purushottanm Agarwal's total promoter shareholding is 11,06,92,800 shares (12.17% of total share capital).
- · Other promoter group entities (Pro Fitcch Pvt. Ltd., Pri Caf Pvt. Ltd., Equilibrated Venture Cflow Pvt. Ltd.) have existing encumbered shares but no new pledges in this filing.
- · The ratio of security cover to amount involved for all four encumbrances ranges from 1.58 to 1.67.
- · The pledged shares are not related to any debt instrument issuance by the company.
23-05-2026
The filing is a disclosure under SEBI (SAST) Regulations, 2011, indicating that PPFAS Mutual Fund has crossed a substantial acquisition threshold in Indraprastha Gas Limited (IGL). However, the filing does not provide any details on the deal structure, valuation, strategic rationale, or financial impact. No specific numbers, dates, or transaction terms are disclosed, making it impossible to assess the materiality or direction of the event.
23-05-2026
Umesh Vasantlal Modi, a former promoter of Jupiter Infomedia Limited, disclosed the sale of 1,00,000 equity shares (1.00% of total voting capital) via open market on May 22, 2026, reducing his holding from 6.77% to 5.77%. This disposal is part of a broader transfer of majority control to new acquirers following an open offer, and Mr. Modi is no longer a promoter, director, or in management of the company.
- · The sale was executed on May 22, 2026, via open market transaction.
- · The company's total equity capital remains unchanged at ₹10,02,00,000 divided into 1,00,20,000 equity shares of ₹10 each.
- · Mr. Modi is now neither a promoter, director, nor in control or management of the company.
- · The disclosure is made under SEBI (SAST) Regulation 29(2) and SEBI (PIT) Regulation 7(3).
23-05-2026
Promoter and Whole Time Director Chenna Reddy Sanketh Ram Reddy filed a disclosure under SEBI SAST Regulations reporting that his shareholding percentage in Kavveri Defence & Wireless Technologies Limited decreased from 8.12% to 4.64% following the preferential allotment of 2,57,50,000 equity shares to promoters/promoter group and non-promoters. However, the number of shares held by him remained unchanged at 27,90,000 shares, indicating the dilution was due to an increase in the company's total equity capital.
- · Preferential allotment of 2,57,50,000 equity shares was made to promoters/promoter group and non-promoters on May 21, 2026.
- · The company's equity share capital increased from ₹34,37,42,600 (3,43,74,260 shares) to ₹60,12,42,600 (6,01,24,260 shares).
- · The promoter's absolute shareholding remained constant at 27,90,000 shares; the percentage decline is solely due to dilution from the capital increase.
- · No shares were acquired or sold by the promoter in this transaction.
23-05-2026
NIIT Limited has received NCLT approval for the amalgamation of NIIT Institute of Finance Banking & Insurance Training Limited and RPS Consulting Private Limited into itself, with an appointed date of April 1, 2026. The scheme is subject to receipt of a certified copy of the order and filing with the Registrar of Companies. The amalgamation consolidates the three entities under NIIT Limited, with all assets, liabilities, contracts, and employees of the amalgamating companies transferring to NIIT.
- · The appointed date for the scheme is April 1, 2026.
- · The NCLT order was pronounced on May 22, 2026.
- · Meetings of equity shareholders, secured creditors, and unsecured creditors were dispensed with by the NCLT in the first motion order dated December 18, 2025.
- · The scheme is exempted from notification to the Competition Commission of India under Item 9 of Schedule I of the CCI Regulations.
- · The amalgamating companies have pending disputed statutory dues: NIIT Institute of Finance Banking & Insurance Training Limited has ₹32,352 thousand disputed Service Tax (2008-2010); NIIT Limited has ₹2.18 million disputed GST (FY 2018-2020), ₹9.41 million disputed Income Tax (AY 1999-00 to 2005-06), and ₹11.37 million disputed Income Tax (AY 2011-12, since settled via CIT(A) order).
- · The Income Tax Department has no objection to the scheme but retains the right to examine tax avoidance and pursue tax liabilities.
- · The order clarifies that it does not grant exemption from stamp duty, taxes, or other charges.
23-05-2026
Kamdhenu Limited has canceled its proposed purchase of an immovable property in Alwar, Rajasthan, due to observations/issues noted during the due diligence process. The transaction, originally approved by the Board on February 13, 2026, may be reconsidered later if the due diligence report is cleared. No financial figures were disclosed for the canceled transaction.
- · The original proposal was approved by the Board on February 13, 2026 (letter No. KL/SEC/2025-26/78).
- · The property is located at Vill. Hajipur, Tehsil Kotkasim, District Alwar, Rajasthan.
- · The due diligence process included title verification, compliance checks, usage, property inspections, and assurance regarding encumbrance and approvals from BIDA and other authorities.
- · The transaction may be reviewed by the Board later subject to clearance of the due diligence report.
23-05-2026
Vimal Prakash HUF disclosed an off-market acquisition of 3,62,500 shares (1.78% of total share/voting capital) in Nilachal Refractories Ltd. on April 22, 2026, under SEBI Takeover Regulations. The acquirer is part of the promoter/promoter group, and the holding remained unchanged at 1.78% both before and after the transaction, with no encumbrances or convertible instruments involved.
- · Acquisition was executed off-market on April 22, 2026.
- · No shares were encumbered (pledge/lien) before or after the transaction.
- · No voting rights other than by shares, warrants, or convertible securities were involved.
- · The acquirer is categorized as belonging to the promoter/promoter group.
- · Total diluted share/voting capital of the target company after acquisition is reported as 0 (likely not disclosed or not applicable).
23-05-2026
The filing is a disclosure under SEBI (SAST) Regulation 29(2) for Sanjay Namdeo Salunkhe regarding Jaro Institute of Technology Management and Research Limited. No financial details, deal structure, valuation, or strategic rationale are provided in the disclosure. The filing is purely regulatory and does not contain any quantitative data or performance metrics.
23-05-2026
The filing is a disclosure under SEBI (SAST) Regulation 29(2) for Limrose Engineering Work Pvt Ltd acquiring shares of Atlas Cycles (Haryana) Limited. No financial details, deal size, valuation, or strategic rationale are disclosed in the filing. The event is purely a regulatory disclosure with no quantitative data or forward-looking statements provided.
23-05-2026
Naturo Agrotech India Limited (formerly Naturo Indiabull Limited) has filed a declaration with the BSE confirming that promoters and persons acting in concert did not create or invoke any encumbrance on their equity shares during the financial year ended March 31, 2026. The declaration was signed by promoter and director Jyoti Choudhary on behalf of the promoter group. The filing is a routine regulatory disclosure under SEBI Takeover Regulations with no financial implications or material business changes reported.
- · Scrip Code: 543579
- · Company CIN: L72900RJ2016PLC055890
- · Registered office: House No. M-43 and 44, Raghu Vihar, M Block, Shipra Path, Mansarovar, Jaipur, Rajasthan - 302020
- · Declaration covers the financial year ended March 31, 2026
- · Disclosure made under Regulation 31(4) of SEBI (SAST) Regulations, 2011
- · Annexure A lists two promoters: Jyoti Choudhary (PAN BEFPC4533L) and Gaurav Jain (PAN AJPPJ8602D)
23-05-2026
Yogesh Jiwanlal Lakhani, along with PACs, acquired 38,250 equity shares (0.18% of voting capital) of Bright Outdoor Media Ltd in the open market on May 22, 2026. Post-acquisition, the promoter group's total holding increased from 69.76% to 69.94% of the voting capital. The acquisition is a small open-market purchase, resulting in a marginal increase in promoter stake.
- · The acquisition was made in the open market on May 22, 2026.
- · The total equity share capital of the company is 2,18,23,166 equity shares of face value ₹10 each.
- · The acquirer is a promoter, and the transaction is a small increase in promoter holding.
- · No change in total diluted voting capital; it remains Not Applicable.
23-05-2026
Salasar Techno Engineering Limited (STEL) has received approval from the NCLT Kolkata Bench on May 22, 2026, for the Scheme of Amalgamation of EMC Limited with STEL. The Appointed Date of the scheme is October 23, 2024. The NCLT Allahabad Bench had previously approved the scheme, and EMC Limited will stand dissolved upon filing of the order with the Registrar of Companies.
- · NCLT Kolkata Bench order dated May 22, 2026 (pronounced on that date).
- · Appointed Date of the Scheme is October 23, 2024.
- · EMC Limited is the Transferor Company; STEL is the Transferee Company.
- · STEL is in the process of obtaining the certified copy of the NCLT Order for filing with the Registrar of Companies.
- · The scheme was already approved by NCLT Allahabad Bench on the petition filed by STEL.
- · Upon filing of the certified copy, EMC Limited shall stand dissolved without winding up.
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