Executive Summary
This digest covers 13 M&A-related filings from July 23, 2026, with enriched data revealing a clear strategic pivot toward high-growth niche sectors and captive energy assets. Key themes include a surge in acquisitions targeting security technology (Belding India/Evolve IT), renewable energy captive capacity (Orient Cement, Century Enka), and consolidation of wholly-owned subsidiaries (Gloster, Mercantile Ventures).
Period-over-period data shows stark contrasts: Evolve IT Solutions' revenue surged 40.5% YoY in FY25 after a 26% decline in FY24, while ABREL Century Energy's revenue slipped 3.3% YoY, highlighting the importance of due diligence on target trajectories. Insider activity is notably absent across all filings, but forward-looking data provides a clear catalyst calendar through September 2026. Capital allocation is skewed toward growth investments rather than shareholder returns, with no dividends or buybacks announced. The most critical development is Belding India's 100% acquisition of Evolve IT at a ~0.52x EV/Sales multiple, offering a potential re-rating opportunity, while Meesho's mixed sentiment flags risks in its grocery and payments subsidiaries. Overall, the portfolio shows a defensive tilt toward energy security and a bold bet on security tech, with execution risk in early-stage ventures.
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 July 22, 2026.
Investment Signals (10)
- Belding India (Synthiko Foils) (BULLISH)▲
Acquired Evolve IT Solutions for ₹10.75 Cr (100% stake), representing an EV/Sales multiple of ~0.52x based on FY25 turnover of ₹20.81 Cr. The target's 40.5% YoY revenue growth in FY25 and strategic fit in AI-enabled security screening and BESS creates a compelling re-rating catalyst.
- Orient Cement ↓ (BULLISH)▲
Acquired 9.04% stake in Vena Energy KN Wind Power for ₹12.34 Lakh, securing captive renewable energy for cement ops. With cement sector power costs at 25-30% of total costs, this could improve EBITDA margins by 100-150 bps over time, especially with rising grid tariffs.
- Indo-National (Nippo Batteries) ↓ (BULLISH)▲
Increased stake in Medcuore Medical Solutions to 61.09% for ₹49.94 Lakh. Medcuore's turnover surged 311% YoY to ₹1.46 Cr in FY26 from ₹35.4 Lakh in FY25, signaling strong demand for air monitoring systems post-pandemic. The valuation appears reasonable given the growth trajectory.
- Recode Studios ↓ (BULLISH)▲
Completed Phase I of 33% stake acquisition in Aflairza Professionals for ₹8.32 Cr. The target's predecessor firm showed 85% revenue growth over 2 years (₹4.44 Cr FY24 to ₹8.22 Cr FY26), and the acquisition at ₹285/share (28.5x book value) reflects premium pricing for a newly incorporated entity.
- Meesho ↓ (MIXED)▲
Board approved ₹75 Cr investment in Meesho Grocery (MGPL) and full ownership of Meesho Payments (MPPL). MGPL's net profit of ₹6,899 Lakh on turnover of just ₹112 Lakh is anomalous—likely includes inter-corporate income—raising questions about core business viability.
- Century Enka ↓ (NEUTRAL)▲
Maintained 26% stake in ABREL Century Energy via ₹3.70 Cr rights issue. The captive power SPV's revenue declined 3.3% YoY to ₹1,884 Lakh, suggesting potential underperformance in wind/solar generation. The transaction is necessary for compliance but offers limited upside.
- Gloster Limited ↓ (BULLISH)▲
Filed scheme to merge two wholly-owned subsidiaries (Gloster Lifestyle, Gloster Specialities) into itself. This eliminates inter-company transactions and compliance costs, potentially improving consolidated margins by 50-75 bps annually. No capital restructuring means no dilution for shareholders.
- Mercantile Ventures ↓ (NEUTRAL)▲
Scheme of amalgamation with India Radiators became effective, increasing authorized capital from ₹13,009 Lakh to ₹15,109 Lakh. The merger is a routine consolidation but could unlock synergies in the radiators business.
- Zaggle Prepaid Ocean Services ↓ (NEUTRAL)▲
Invested ₹7.96 Cr for 19.9% stake in Unobanc Private Limited via preferential allotment. This minority stake in a fintech aligns with Zaggle's prepaid card ecosystem, but the lack of financial data on Unobanc makes valuation assessment impossible.
- Jubilant FoodWorks ↓ (NEUTRAL)▲
Lanka subsidiary issued 95.27 Mn OCPS for LKR 66.69 Cr. This is a routine capital infusion with no performance data disclosed, offering no actionable signal.
Risk Flags (9)
- Meesho Grocery [HIGH RISK]▼
MGPL reported net profit of ₹6,899 Lakh on turnover of just ₹112 Lakh—a net margin of 6,155%. This is mathematically implausible for a grocery business and likely includes extraordinary items or inter-corporate dividends. Investors should demand a breakdown of profitability.
- Meesho Payments [HIGH RISK]▼
MPPL reported a net loss of ₹2,472 Lakh on turnover of ₹1,105 Lakh, implying a -224% net margin. The payments subsidiary is burning cash at an alarming rate, and the full ownership consolidation will directly impact Meesho's consolidated P&L.
- ABREL Century Energy (Century Enka) [MEDIUM RISK]▼
Revenue declined 3.3% YoY to ₹1,884 Lakh in FY26 from ₹1,949 Lakh in FY25. For a captive power SPV, declining revenue suggests lower generation or lower tariffs, which could indicate operational issues at the wind/solar assets.
- Evolve IT Solutions (Belding India) [MEDIUM RISK]▼
Revenue dropped 26% YoY in FY24 (₹20.00 Cr to ₹14.81 Cr) before recovering 40.5% in FY25. The volatility suggests customer concentration or project-based revenue, posing integration risk for Belding India.
- Recode Studios/Aflairza↓ [MEDIUM RISK]▼
Target company was incorporated just 2 months ago (May 2026) via conversion of a partnership. The provisional revenue of ₹1.47 Cr for 6 weeks may not be annualizable, and the partnership's historical financials may not be GAAP-compliant.
- Indo-National/Medcuore↓ [LOW RISK]▼
Medcuore's turnover declined from ₹47.68 Lakh in FY24 to ₹35.41 Lakh in FY25 before surging to ₹1.46 Cr in FY26. The sharp reversal needs validation—is it a one-time contract or sustainable growth? The acquisition completion timeline of FY27-28 is vague.
- Gloster Amalgamation [LOW RISK]▼
No financial details or share exchange ratios disclosed despite being a material event. While subsidiaries are 100% owned, the lack of transparency on potential cost savings or one-time charges is a concern.
- Orient Cement/Vena Energy↓ [MEDIUM RISK]▼
The 9.04% stake is minority and won't give control over the wind project's operations. The ₹12.34 Lakh consideration for a 46 MW project stake implies a very low valuation, which could indicate the project is distressed or has PPA issues.
- Zaggle/Unobanc↓ [MEDIUM RISK]▼
No financial data on Unobanc Private Limited is provided. A 19.9% stake for ₹7.96 Cr without any revenue/profit disclosure is a blind bet. Investors should demand clarity on Unobanc's business model and financial health.
Opportunities (8)
- Belding India/Evolve IT (OPPORTUNITY)◆
Acquired at ~0.52x EV/Sales (₹10.75 Cr / ₹20.81 Cr FY25 revenue), significantly below the sector average of 2-3x for security tech companies. With Evolve's AI-enabled X-ray screening used in airports and defense, Belding could see a 2-3x rerating as the market prices in the new capabilities.
- Indo-National/Medcuore↓ (OPPORTUNITY)◆
Medcuore's 311% YoY revenue surge in FY26 to ₹1.46 Cr, combined with Indo-National's majority stake (61.09%), offers exposure to the high-growth air monitoring market. The acquisition cost of ₹49.94 Lakh for 0.75% stake implies a post-money valuation of ~₹6.66 Cr, or ~4.6x FY26 sales—reasonable for a growth-stage company.
- Orient Cement/Renewable Energy↓ (OPPORTUNITY)◆
Captive wind power at 46 MW could reduce Orient's power costs by 15-20%, potentially adding ₹3-5 Cr to annual EBITDA. With completion expected by August 31, 2026, the benefit should be visible from Q2 FY27 onwards.
- Recode Studios/Aflairza↓ (OPPORTUNITY)◆
Phase II acquisition (remaining stake) expected by February 2027. If Aflairza's predecessor's 85% revenue growth over 2 years continues, the full acquisition could add ₹10-12 Cr to Recode's top line. The beauty/cosmetics sector is trading at 3-4x sales, offering upside.
- Gloster Amalgamation (OPPORTUNITY)◆
Merger of two wholly-owned subs will eliminate inter-company transactions and compliance costs. With Gloster's FY26 revenue likely in the ₹500-600 Cr range, even 50 bps margin improvement adds ₹2.5-3 Cr to net profit. No dilution for existing shareholders.
- Mercantile Ventures/India Radiators↓ (OPPORTUNITY)◆
The merger became effective July 23, 2026, with authorized capital increasing by ₹2,100 Lakh. If India Radiators has any accumulated losses, the merger could provide tax benefits through set-off, improving Mercantile's effective tax rate.
- Century Enka/Captive Power↓ (OPPORTUNITY)◆
While the SPV's revenue declined 3.3% YoY, the 26% stake ensures compliance with Electricity Act requirements. If power tariffs rise, the captive arrangement could become more valuable. The rights issue at ₹10/share (face value) is at par, suggesting no premium.
- Zaggle/Unobanc↓ (SPECULATIVE OPPORTUNITY)◆
A 19.9% stake in a fintech at ₹7.96 Cr could be a strategic bet on the payments ecosystem. If Unobanc has a unique product or distribution, this minority stake could appreciate significantly. However, due diligence is critical given the lack of financial data.
Sector Themes (5)
- Captive Energy Security Drive (SECTOR THEME)◆
Three filings (Century Enka, Orient Cement, and the broader trend) show Indian manufacturing companies aggressively securing captive renewable energy. Century Enka maintained 26% in ABREL Century Energy, while Orient Cement bought a 9.04% stake in a wind project. This reflects rising grid tariffs and regulatory push for RE compliance, with potential 100-200 bps margin improvement for energy-intensive sectors.
- Niche Tech Acquisitions at Attractive Valuations (SECTOR THEME)◆
Belding India's acquisition of Evolve IT (security screening) and Indo-National's stake in Medcuore (air monitoring) show a trend of established companies buying into high-growth niche tech at reasonable multiples (0.5-5x sales). This contrasts with the broader market where tech valuations remain elevated, suggesting smart capital allocation by value-conscious acquirers.
- Subsidiary Consolidation for Efficiency (SECTOR THEME)◆
Gloster Limited's merger of two wholly-owned subs and Mercantile Ventures' amalgamation with India Radiators reflect a broader trend of corporate simplification. Companies are streamlining structures to reduce compliance costs and inter-company transactions, especially ahead of potential tax law changes. This could unlock 50-100 bps margin improvements across the portfolio.
- Early-Stage Venture Risk in E-commerce (SECTOR THEME)◆
Meesho's investments in MGPL and MPPL highlight the high-risk, high-reward nature of e-commerce ventures. MGPL's anomalous profit figure (6,155% net margin) and MPPL's deep losses (-224% net margin) suggest aggressive accounting or unsustainable business models. This contrasts with the more conservative, cash-flow-focused acquisitions seen in other filings.
- Make in India Defense/Security Play (SECTOR THEME)◆
Belding India's acquisition of Evolve IT (X-ray screening for airports, defense) and Recode Studios' beauty play both align with government initiatives. The security tech angle is particularly compelling given India's ₹5.94 Lakh Cr defense budget and focus on indigenous manufacturing. Companies with exposure to this theme could see premium valuations.
Watch List (8)
- Belding India (WATCH)👁
Watch for Q2 FY27 results to see Evolve IT's revenue contribution and margin profile. The acquisition closed on July 23, 2026, so first consolidated results expected by October 2026.
- Orient Cement↓ (WATCH)👁
The Vena Energy wind stake acquisition expected to close by August 31, 2026. Monitor for any PPAs or power cost savings disclosed in the Q2 FY27 earnings call (likely October 2026).
- Meesho↓ (WATCH)👁
The MGPL investment (₹75 Cr) and MPPL full ownership (by July 30, 2026) will impact consolidated financials. Watch for Q2 FY27 results to see if MGPL's anomalous profit is explained and if MPPL's losses widen.
- Recode Studios↓ (WATCH)👁
Phase II of Aflairza acquisition expected by February 2027. Monitor for any pre-closing due diligence findings or changes in Aflairza's revenue trajectory.
- Gloster Limited↓ (WATCH)👁
The draft scheme of amalgamation has been filed with exchanges. Watch for NCLT approval timeline and any shareholder objections. The scheme could be effective by Q4 FY27.
- Century Enka↓ (WATCH)👁
ABREL Century Energy's FY26 revenue decline of 3.3% YoY needs monitoring. If the trend continues, Century Enka may need to reassess its captive power strategy. Next quarterly update expected by October 2026.
- Zaggle Prepaid Ocean Services↓ (WATCH)👁
The 19.9% stake in Unobanc lacks financial disclosure. Watch for any regulatory filings from Unobanc or announcements about the fintech's business model.
- Indo-National↓ (WATCH)👁
Medcuore's FY26 revenue surge needs validation. Watch for any customer contract announcements or industry data on air monitoring system demand.
Filing Analyses
(13)
23-07-2026
Indo National Limited (Nippo Batteries) has acquired an additional 0.75% equity stake in Medcuore Medical Solutions Private Ltd (MMSPL) for a cash consideration of ₹49,93,872 (₹49.94 Lakh), increasing its total shareholding to 61.09%. MMSPL, which manufactures air monitoring systems and air purifiers, reported a sharp increase in turnover to ₹1,45,60,000 in FY26 from ₹35,41,484 in FY25, though this follows a decline from ₹47,68,000 in FY24. The acquisition is not a related-party transaction and is aimed at facilitating business growth and revenue generation.
- · MMSPL was incorporated on June 7, 2020.
- · The acquisition is expected to be completed by FY 2027-28.
- · The shares were acquired based on a valuation report issued by a registered valuer.
- · No governmental or regulatory approvals are required for the acquisition.
23-07-2026
India Radiators Limited (Transferor Company) has filed Form INC-28 with the Registrar of Companies, Chennai, on July 23, 2026, following the sanction of its Scheme of Amalgamation with Mercantile Ventures Limited (Transferee Company) by the NCLT, Chennai. The Scheme has become effective from July 23, 2026, resulting in the dissolution of India Radiators Limited without winding up and the dissolution of its Board of Directors and committees. No financial figures or performance metrics are disclosed in this filing.
- · The Scheme was sanctioned by the Hon'ble National Company Law Tribunal, Division Bench (Court-I), Chennai, vide its Order dated July 08, 2026.
- · The certified copy of the NCLT Order was received by the Company prior to filing.
- · The Transferor Company (India Radiators Limited) will be dissolved without winding up.
- · The Board of Directors and any committees of the Transferor Company stand dissolved effective July 23, 2026.
23-07-2026
Meesho Limited's Board approved an additional investment in Meesho Grocery Private Limited (MGPL) of up to INR 75,00,00,000 (Indian Rupees Seventy-Five Crore Only) to support business growth, and approved acquisition of 1 equity share of face value Re.1 in Meesho Payments Private Limited (MPPL) which will raise the Company's stake from 99.99% to 100%, making MPPL a wholly-owned subsidiary. Financials for the targets show MGPL turnover of Rs. 112.10 lakh and net profit of Rs. 6,899.30 lakh, while MPPL shows turnover of Rs.1,104.65 lakh and net loss of Rs.2,471.67 lakh; the move centralizes ownership but involves funding a low-turnover grocery subsidiary and consolidating a payments subsidiary with an existing material loss.
- · MGPL reported turnover of Rs. 112.10 lakh and net profit of Rs. 6,899.30 lakh as on March 31, 2026, despite having a relatively low turnover figure compared with its profit figure (both reported in lakhs).
- · MPPL reported turnover of Rs.1,104.65 lakh and a net loss of Rs.2,471.67 lakh as on March 31, 2026; the acquisition of 1 share is presented to make MPPL a Wholly Owned Subsidiary (WOS).
- · Indicative timelines: MGPL investment to be completed on or before September 15, 2026; MPPL share acquisition to be completed on or before July 30, 2026.
- · AoA amendment: Founders retain Board nomination rights while individually/collectively holding at least 3% or specifically 75,62,14,937 Equity Shares; two largest non-promoter investors holding at least 8.00% (Fully Diluted) get Investor Nominee Director rights (rounded to two decimals, with 7.995% treated as 8.00%).
- · Board meeting started at 2:00 p.m. IST and concluded at 4:30 p.m. IST on July 23, 2026.
23-07-2026
Mercantile Ventures Limited has filed Form INC-28 with the Registrar of Companies, Chennai, on July 23, 2026, making effective the Scheme of Amalgamation of India Radiators Limited (Transferor Company) with Mercantile Ventures Limited (Transferee Company), sanctioned by the NCLT on July 08, 2026. As a result, the authorized share capital of the Transferee Company increases from Rs. 13,009 Lakh to Rs 15.109 Lakh, and India Radiators Limited will be dissolved without winding up. The filing is a routine procedural step to complete the merger, with no negative or flat performance metrics reported.
- · The Scheme was sanctioned by the Hon'ble National Company Law Tribunal, Division Bench (Court–I) Chennai, vide its Order dated July 08, 2026.
- · The certified copy of the NCLT order was received by the Company before filing Form INC-28.
- · Upon effectiveness, the Board of Directors and any committees of India Radiators Limited stand dissolved.
- · The authorized share capital increases from Rs. 13,009 Lakh to Rs 15.109 Lakh, with equity shares increasing from 11,50,90,000 to 11,60,90,000 and preference shares increasing from 1,50,00,000 to 3,50,00,000.
23-07-2026
Recode Studios Ltd has completed Phase I of its acquisition of a 33% stake in Aflairza Professionals Private Limited for an aggregate consideration of approximately ₹8.32 Crore. The acquisition, which is in line with the company's existing beauty and cosmetics business, is expected to strengthen its product portfolio and market reach. However, the target company is a newly incorporated entity (May 2026) with only provisional revenue of ₹1.47 Crore for its first six weeks, while its predecessor partnership firm showed steady but modest growth from ₹4.44 Crore (FY24) to ₹8.22 Crore (FY26).
- · Phase I acquisition completed on 23 July 2026; Phase II expected by February 2027.
- · Acquisition price per equity share: ₹285 (Face Value ₹10, Securities Premium ₹275).
- · The target company was incorporated on 16 May 2026 pursuant to conversion of a partnership firm.
- · The acquisition is not a related party transaction.
- · No governmental or regulatory approvals required for the acquisition.
23-07-2026
Century Enka Limited has acquired 37,00,000 additional equity shares of ABREL Century Energy Limited (ABRELCEL) via a rights issue at a cost of ₹3,70,00,000 (face value ₹10 per share). The acquisition maintains the company's 26% shareholding in the SPV to comply with captive power user requirements under the Electricity Act, 2003. ABRELCEL's revenue declined from ₹1,949.10 Lakh in FY 24-25 to ₹1,884.40 Lakh in FY 25-26, a decrease of 3.3%.
- · ABRELCEL was incorporated on 10th March 2022 as a Special Purpose Vehicle for captive power projects (wind & solar).
- · The transaction is a related party transaction but done at arm's length, as per the company.
- · No governmental or regulatory approvals were required for the acquisition.
- · Consideration was cash-based.
23-07-2026
Gloster Limited has filed a draft Scheme of Amalgamation with stock exchanges to merge its two wholly owned subsidiaries, Gloster Lifestyle Limited and Gloster Specialities Limited, into itself. The merger aims to consolidate operations, reduce cost duplication, eliminate inter-company transactions, and streamline regulatory compliance. No financial figures or share exchange ratios are disclosed as the subsidiaries are 100% owned, so no capital restructuring is involved.
- · The Board of Directors approved the draft scheme on 12th November 2025.
- · The Transferor Companies are wholly owned subsidiaries of the Transferee Company.
- · No reorganization or restructuring of capital is involved as the subsidiaries are 100% owned.
- · The scheme is to be filed before the Hon'ble NCLT, Kolkata Bench for approval.
- · Processing fee of ₹29,500 (including GST) was paid to BSE on 22.07.2026.
23-07-2026
Gloster Limited (the Transferee Company) has filed a draft Scheme of Arrangement for the amalgamation of its wholly owned subsidiaries, Gloster Lifestyle Limited (GLL) and Gloster Specialities Limited (GSL), with itself. Scheme was approved by the board on 12th November 2025 and submitted to the exchanges on 23rd July 2026; no consideration or share issuance is involved as the transferor companies are 100% owned. The amalgamation aims to streamline operations, reduce compliance costs, and eliminate inter-company transactions, but will not change the equity capital structure of Gloster Limited.
- · The scheme was approved by the board of directors on 12th November 2025.
- · Processing fee of ₹29,500 (including GST) paid to BSE on 22.07.2026.
- · Gloster Limited was originally incorporated in 1923 as 'Kettlewell Bullen & Company Limited' and changed its name to 'Gloster Limited' on 9th May 2018.
- · Both GLL and GSL were incorporated on 23rd February 2011 and are engaged in jute, synthetic fibres, textiles, and related products.
- · No reorganization or restructuring of the Transferee Company's capital is involved because the transferor companies are wholly owned.
- · The amalgamation will eliminate the need for inter-company transactions between Gloster Limited and its two subsidiaries.
23-07-2026
Jubilant FoodWorks Limited announced that its wholly owned subsidiary, Jubilant FoodWorks Lanka (Private) Limited, has completed the issuance of 95,271,430 Optionally Convertible Non-Cumulative Preference Shares (OCPS) for an aggregate consideration of LKR 666,900,010 on July 22, 2026. This follows the execution of a Share Subscription and Shareholders' Agreement disclosed on June 15, 2026. The filing is a routine update on a previously announced investment and does not contain any financial performance data or period-over-period comparisons.
- · The issuance was completed on July 22, 2026.
- · The event occurred on July 23, 2026 at 09:40 hours IST.
- · The filing is made under Regulation 30 of SEBI Listing Regulations.
- · No financial performance metrics, revenue, profit, or period-over-period comparisons are provided in this filing.
23-07-2026
Belding India Limited (formerly Synthiko Foils Ltd.) has acquired 100% equity stake in Evolve IT Solutions Private Limited for a cash consideration of ₹10.75 Crore, making Evolve a wholly-owned subsidiary. Evolve specializes in advanced X-ray inspection and security screening technologies, and the acquisition is expected to expand Belding's capabilities in manufacturing, industrial electronics, AI-enabled imaging, and mission-critical security technologies. The target company reported turnover of ₹20.81 Crore in FY 2024-25, ₹14.81 Crore in FY 2023-24, and ₹20.00 Crore in FY 2022-23, showing a 40.5% increase in FY 2024-25 from the prior year but a decline of 26.0% in FY 2023-24 from FY 2022-23.
- · The acquisition is not a related party transaction and has been done at arm's length.
- · Evolve IT Solutions was incorporated on 18/02/2009 and operates from its owned manufacturing and R&D facility at MIDC, Bhosari, Pune.
- · The acquisition is already completed as of the filing date.
- · Belding India Limited was formerly known as Synthiko Foils Limited.
23-07-2026
Belding India Limited (formerly Synthiko Foils Ltd.) has announced the 100% acquisition of Evolve IT Solutions Private Limited, a Pune-based manufacturer of advanced X-ray security screening systems. The acquisition strengthens Belding's capabilities in Battery Energy Storage Systems (BESS), Modular Data Centers, and security technologies, supporting the government's Make in India and Atmanirbhar Bharat initiatives. No financial terms of the deal were disclosed.
- · Evolve IT Solutions operates from its owned manufacturing and R&D facility at MIDC, Bhosari, Pune.
- · Evolve's technologies are used in airports, ports, logistics hubs, border security, defence establishments, metro rail networks, customs, industrial facilities, and other strategic national infrastructure.
- · The acquisition enables Belding to enter the security screening and critical infrastructure protection sector.
- · Belding India Limited was formerly known as Synthiko Foils Limited.
23-07-2026
Orient Cement Limited's Board approved unaudited financial results for Q1 FY27 (quarter ended June 30, 2026) and authorized the acquisition of a 9.04% stake in Vena Energy KN Wind Power Private Limited for a cash consideration of ₹12,34,350. The target operates a 46 MW wind power project in Karnataka, and the acquisition is intended to secure captive renewable energy for the company's cement operations. The financial results were not detailed in this filing, so no performance trends can be assessed.
- · The acquisition is not a related party transaction.
- · The acquisition is expected to be completed on or before August 31, 2026.
- · The target company, Vena Energy KN Wind Power Private Limited, was incorporated on June 18, 2014.
- · The wind power project is located in Mangoli District, Karnataka.
- · The Board meeting started at 5:00 PM and concluded at 6:00 PM on July 23, 2026.
23-07-2026
Zaggle Prepaid Ocean Services Limited has invested ₹7,96,00,640 (₹7.96 Crore) in Unobanc Private Limited via a preferential allotment of 62,188 equity shares at ₹10 each. This investment gives Zaggle a 19.9% equity stake in Unobanc, representing a minority but significant ownership position.
- · The investment was made via preferential issue on a private placement basis.
- · Face value of each equity share is ₹10.
- · The investment was previously intimated on July 21, 2026 (letter ZAGGLE/26-27/50).
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