India Merger Acquisition MCA Regulatory Filings — October 27, 2026

27-10-2026

Liqvd Digital India Ltd (BSE: 544946) has acquired an additional 23.21% equity stake in Adlift Marketing Private Limited, taking its holding from 76.79% to 100% and making Adlift a wholly owned subsidiary. The consideration of Rs. 9,00,01,813.05 (approximately Rs. 9.00 Crore) is cash-funded from IPO proceeds, and the transaction is subject to requisite approvals. Adlift reported FY2025-26 turnover of Rs. 3,803.27 Lakhs, up 1.7% from Rs. 3,739.08 Lakhs in FY2024-25, a modest increase after a 21.2% jump in the prior year.

• · Acquisition is not a related party transaction and promoter/promoter group companies have no interest in Adlift
• · Adlift was incorporated on July 26, 2012, and operates in India and the United States
• · Acquisition is in line with the objects of the IPO offer document, funded from IPO proceeds
• · Completion is subject to requisite approvals, with no specific timeline disclosed
• · Adlift's FY2025-26 turnover growth of 1.7% lags its 21.2% growth in FY2024-25, indicating slowing momentum
• · Filing made under Regulation 30 read with Schedule III of SEBI LODR, referencing SEBI Master Circular dated January 30, 2026

27-10-2026

SG Mart Limited's Board, meeting on October 27, 2026, approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, and approved three investment actions: acquisition of 24.5% of SG Enterprise Solutions Private Limited (SGESPL) for ₹1,22,500 (a related party transaction with S Gupta Holding Private Limited), acquisition of 16.67% of APL Apollo Foundation for ₹2,50,000 (a related party transaction with SG Green Logistics Limited), and an additional investment of up to Rs. 10 Crore in its wholly owned subsidiary SG Buildkart Private Limited. Both target-entity acquisitions are expected to complete by December 31, 2026, and the filing does not provide the quarter's revenue or profit figures, so the performance direction cannot be assessed from this document.

• · SGESPL was incorporated on September 10, 2026 and has not commenced operations, so no turnover history exists; the company has 50,000 equity shares of ₹10 each
• · APL Apollo Foundation is a Section 8 non-profit; its 'turnover' comprises grants and donations and has grown from Rs. 82.84 Lakh (FY 2023-24) to Rs. 232.30 Lakh (FY 2025-26)
• · Both acquisitions are related party transactions; a Director of SG Mart and relatives hold more than 2% of SG Green Logistics Limited, which is the seller for the Foundation stake
• · No governmental or regulatory approvals are required for either acquisition
• · The filing contains a share-count inconsistency for SGESPL: 12,250 shares in the board outcome versus 12,500 shares in Annexure A (related party disclosure); the 24.5% stake corresponds to 12,250 of 50,000 shares
• · Company is formerly known as Kintech Renewables Limited; results were reviewed (not audited) by Walker Chandiok & Co LLP

27-10-2026

Maral Overseas Limited's Board approved unaudited results for the quarter and half year ended 30 September 2026, showing net revenue from operations of Rs. 30,130.48 lakh for the quarter (up 14.4% YoY from Rs. 24,970.26 lakh, and up 14.5% QoQ from Rs. 26,321.29 lakh) and a quarterly profit before tax of Rs. 750.01 lakh versus a loss of Rs. 313.77 lakh a year earlier. The Board also approved in-principle capex of up to Rs. 180 crore for the Sarovar Plant through 2030 and raised the investment in Asawata Energy Private Limited to Rs. 3.64 Crore from Rs. 2.60 lakh. Performance is mixed: half-year employee costs fell 2.3% YoY, but finance costs and the garment segment remained weak.

• · Net revenue for the quarter is up 14.4% YoY and 14.5% QoQ, but the garment segment remains loss-making with a quarterly segment loss of Rs. 47.98 lakh
• · Half-year garment segment revenue declined 7.4% YoY to Rs. 7,733.77 lakh and garment segment assets fell to Rs. 7,737.18 lakh from Rs. 10,405.04 lakh a year earlier
• · Quarterly finance costs rose 6.0% YoY to Rs. 969.61 lakh, keeping interest burden elevated
• · Labour code impact of Rs. 59.83 lakh was booked as an exceptional item in Q3 FY26 and FY26, with further impact possible in subsequent periods
• · Company has no subsidiary, associate or joint venture as on 30 September 2026
• · Statutory auditors issued an unqualified limited review report on the results

27-10-2026

Exide Industries Limited invested Rs. 1,49,99,99,970 (approximately Rs. 150 crore) by subscribing to the equity share capital of its wholly owned subsidiary, Exide Energy Solutions Limited (EESL), on a rights basis on 27 October 2026. The Company's cumulative investment in EESL now stands at Rs. 5,352.23 crore, with no change in its shareholding percentage in EESL.

• · This is a further investment following an earlier disclosure dated 29 September 2026 regarding investment in EESL.
• · The filing is made under Regulation 30 of the SEBI (LODR) Regulations, 2015, read with Para A of Part A of Schedule III and SEBI Master Circular dated 30 January 2026.
• · The investment does not change Exide Industries' shareholding percentage in EESL, as EESL remains wholly owned.

27-10-2026

Lloyds Metals and Energy Limited (LMEL) has entered into Share Subscription and Shareholders Agreements and Power Purchase Agreements with three Amplus entities (Amplus Green One Power Private Limited, Amplus Energy One Private Limited, and Amplus Ceres Solar Private Limited) to acquire a minimum 26% stake in each under the Group Captive Scheme. The agreements were executed on 27 October 2026, following Board approval disclosed on 10 August 2026. The filing is an update on the previously announced transaction and does not restate financial terms, deal values, or stake-level figures.

• · Agreements were executed on 27 October 2026 with Amplus Energy Solutions Pte. Ltd. as the co-investing party alongside LMEL
• · Filing is made under Regulation 30(7) of SEBI LODR and references SEBI Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11 November 2024
• · Full disclosure details were provided in the earlier 10 August 2026 outcome and are available on the company website at www.lloyds.in

27-10-2026

Maharaja & Speedex India Ltd invested ₹19.80 Crore in its wholly owned subsidiary, Dewdrop Bottles Private Limited, by subscribing to 4,50,000 equity shares at ₹440 per share in a rights issue, with funds earmarked for plant and machinery at the subsidiary's existing manufacturing facility. The subsidiary's turnover rose from ₹2,727.86 Lakh in FY 2023-24 to ₹8,897.82 Lakh in FY 2025-26, though the company's shareholding percentage is unchanged and the transaction is an intra-group capital infusion rather than a third-party acquisition.

• · Investment is a rights-issue subscription in a wholly owned subsidiary; the company's shareholding remains unchanged, so this is not a change of control or third-party acquisition
• · Transaction is classified as a related party transaction, undertaken on an arm's length basis, with no separate promoter or promoter group interest beyond indirect shareholding
• · No governmental or regulatory approvals required; completion expected within statutory timelines
• · Consideration is all cash
• · Subsidiary was incorporated on 5 August 2020 and operates only in India

27-10-2026

Shah Investor's Home Ltd's board met on October 27, 2026 to approve unaudited standalone and consolidated results for the quarter ended June 30, 2026, the first results filed since its IPO listing on NSE and BSE on October 6, 2026. The board also approved the acquisition of 71,857 equity shares (6.25% paid-up capital) of Ficus Food Lab Private Limited, and appointed Mr. Hemant Roy as Internal Auditor and M/s. SSKA & Company as Independent System Auditor. Standalone total income for the quarter was Rs. 1,722.17 Lakhs, with profit after tax of Rs. 196.87 Lakhs, but this is weaker than the prior quarter (Rs. 379.90 Lakhs), and the quarter's EPS of Rs. 1.25 is not annualized.

• · Consolidated results were also approved; consolidated total income and profit figures are presented separately and include an associate share of profit.
• · Statutory auditor issued an unmodified limited review conclusion on the standalone results.
• · Quarter ended March 31, 2026 figures are balancing figures, and June 2025 and December 2025 year-to-date figures are unaudited and unreviewed.
• · Standalone Net Interest Income declined about 31% YoY, which is a notable weakness in the core lending business.
• · Standalone EPS of Rs. 1.25 for the quarter is not annualized.

27-10-2026

Waaree Energies Limited's Board, at its October 27, 2026 meeting, approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, and the acquisition of 100% of Waaree Green Data Centers Private Limited (WGDCPL) and its two wholly-owned subsidiaries from its subsidiary Waaree Renewable Technologies Limited for a nominal cash consideration of Rs. 1,00,000 (10,000 shares of Rs. 10 each). The target entities have not yet commenced operations, and the deal is a related party transaction stated to be at arm's length and in the ordinary course of business. The statutory auditor's review flagged an uncertainty over a U.S. Customs and Border Protection investigation into exports, for which no further adjustments have been made pending outcome.

• · Acquisition is a related party transaction, stated to be at arm's length and in the ordinary course of business
• · Target entities (WGDCPL and its two subsidiaries) are yet to commence operations and have no turnover history
• · Indicative completion timeline is Financial Year 2026-27; no governmental or regulatory approvals required
• · Consideration is cash, with the Company evaluating a business outside its main line of business
• · Auditor's review draws attention to uncertainty over a U.S. Customs and Border Protection investigation into the Company and a subsidiary's U.S. exports, with related provisions made; no further adjustments pending outcome
• · Auditor's review of 7 subsidiaries was not performed by their auditors and was based on unreviewed management-certified figures, with the filing stating these are not material to the Group
• · Filing contains a discrepancy: the net cash outflow figure is stated as Rs. 127.53 crore in the 55-subsidiary paragraph and Rs. 16.44 crore in the 7-subsidiary paragraph, with the 7-subsidiary figure also labelled 'net loss tax' in one place

27-10-2026

Chemkart India Limited has made a further investment of Rs. 97,90,500 by subscribing to 1,83,000 equity shares of face value Rs. 10 each at Rs. 53.50 per share through a rights issue in its wholly owned subsidiary, Easy Raw Materials Private Limited. The investment forms part of the IPO proceeds earmarked for commissioning the subsidiary's manufacturing unit, and the subsidiary reported nil turnover with a loss after tax of Rs. 59.47 Lakh and net worth of Rs. 578.60 Lakh as of 31 March 2026. The Company's shareholding remains unchanged at 100%.

• · Subsidiary incorporated in India in 2020 and has had nil turnover over the last three years
• · Investment is a related party transaction conducted at arm's length, and no governmental or regulatory approvals are required
• · Investment is linked to the prospectus dated 10 July 2025 and the SEBI circular dated 30 January 2026