India Merger Acquisition MCA Regulatory Filings — October 29, 2026

29-10-2026

Raghav Productivity Enhancers Limited (RPEL) subscribed to 8,000 equity shares of face value Rs. 10 each (Rs. 80,000 in total) in newly incorporated RPEL TRLK Silicatech Private Limited on 28 October 2026, acquiring an 80% shareholding. The entity was formed under the Joint Venture Agreement with TRL Krosaki Refractories Limited to manufacture and sell silica ramming mass and other refractories, with nil turnover to date and no prior three-year history.

• · The acquired entity was incorporated on 25 September 2026 in Odisha, India
• · The entity has nil turnover and no three-year turnover history
• · RPEL and the joint venture company share common directors, so the entity is a related party and the filing does not state whether the transaction is at arm's length
• · Share credit to demat accounts is pending and will occur in due course

29-10-2026

APAR Industries Limited reported consolidated revenue from operations of Rs 6,931.19 crore for Q2 FY27 (quarter ended September 30, 2026), up from Rs 5,715.42 crore a year earlier, and consolidated profit after tax of Rs 447.32 crore versus Rs 251.70 crore. Half-year consolidated revenue rose to Rs 13,522.25 crore from Rs 10,819.58 crore, while the Board also approved a further investment of up to USD 100 million in its wholly owned subsidiary Petroleum Specialties Pte Ltd., Singapore. Growth was not uniform: Q2 revenue was slightly below Q1 (Rs 6,591.06 crore), Transformer and speciality oils revenue grew strongly, while Conductors and Power/Telecom cables grew more modestly on a half-year basis.

• · Consolidated Q2 FY27 profit after tax fell about 4.3% QoQ from Rs 467.45 crore to Rs 447.32 crore despite higher revenue.
• · Consolidated Q2 revenue rose only about 5.2% QoQ, and Conductors and Power/Telecom cables segment revenue both grew sequentially.
• · Other expenses benefited from US tariff refunds of Rs 42.75 crore, which flatters current-period profitability.
• · Finance costs rose to Rs 261.42 crore for H1 FY27 from Rs 194.22 crore in H1 FY26, an increase of about 35%, reflecting higher borrowings.
• · Consolidated total liabilities declined to Rs 6,880.08 crore from Rs 7,776.53 crore in Q1 FY27, while total assets rose to Rs 16,288.66 crore.
• · Consolidated Transformer and speciality oils segment results jumped to Rs 299.62 crore in Q2 from Rs 92.63 crore a year earlier, driven by segment mix.
• · Standalone results were broadly similar to consolidated, with standalone Q2 profit after tax of Rs 435.19 crore.
• · Statutory auditors issued an unmodified limited review opinion on both standalone and consolidated results.

29-10-2026

Welspun Corp's Board, meeting on 29 October 2026, approved unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026, a USD 115 million capacity expansion (225 KMTPA HSAW pipe facility at Little Rock, Arkansas, expected operational March 2028, funded through internal accruals), and a total investment of up to ~USD 125 million in a 50:50 Perma-Pipe partnership for spiral pipe manufacturing and coating in Jordan. The Board also approved acquiring a 49% direct stake in Welspun Special Coating Private Limited (WSCPL) for IFBE coating, with a total investment of up to ~Rs. 110 Crore shared with Perma-Pipe Qatar, which takes the remaining 51%. The filing does not provide the headline revenue or profit figures for the quarter, so the results themselves cannot be assessed for period-over-period performance from this document.

• · Re-appointment of Manish Chokhani as Independent Director for a second four-year term effective 2 February 2027, subject to shareholder approval
• · Re-appointment of Anjani Kumar Agrawal as Independent Director for a second four-year term effective 1 April 2027, subject to shareholder approval
• · US HSAW facility expected to be operational in March 2028, funded through internal accruals
• · Jordan partnership definitive agreements are yet to be executed; governance and operational terms remain to be finalised
• · Partnership in Jordan may later support reconstruction in Syria, Lebanon, Iraq and Gaza and oil and gas infrastructure routing toward the Port of Aqaba
• · Associate-share figures and 8-subsidiary loss figures are unreviewed by the auditor, and the auditor relied on other auditors' reports for those entities
• · Eight subsidiaries reported net losses of Rs. 69.51 Crore for the nine-month period, with net cash outflows of Rs. 38.01 Crore

29-10-2026

Ambuja Cements reported standalone unaudited results for Q2 FY27 (quarter ended September 30, 2026), with revenue from operations of ₹6,113 Crore, up about 9.6% YoY from ₹5,579 Crore, but down about 3.3% sequentially from ₹6,320 Crore in Q1. Profit after tax fell to ₹114 Crore from ₹1,158 Crore in the year-ago quarter, which was inflated by a ₹1,180 Crore tax write-back, while half-year PAT declined to ₹618 Crore from ₹1,955 Crore on the same base effect. The Board also approved the acquisition of a 26% equity stake in SWE Renewables Limited.

• · Standalone PAT in Q2 FY27 was ₹114 Crore versus ₹504 Crore in Q1 FY27, a sharp sequential decline
• · Standalone non-current investments in subsidiaries and JVs fell to ₹18,968 Crore from ₹21,560 Crore since March 31, 2026
• · Standalone non-current loans rose to ₹4,260 Crore from ₹945 Crore, reflecting inter-corporate deposits to subsidiaries
• · Standalone cash and cash equivalents fell to ₹57 Crore from ₹221 Crore, with net cash used in operating activities of ₹2,352 Crore in H1 FY27
• · Trade payables declined to ₹4,109 Crore (including MSME dues) from ₹5,216 Crore at March 31, 2026
• · Indemnity claims of ₹199 Crore against PCIL's erstwhile promoters remain unbooked pending settlement
• · Board meeting ran from 11:00 a.m. to 2:20 p.m. on October 29, 2026

29-10-2026

Ashiana Housing Limited has entered into a Joint Development Agreement for a Senior Living project on approximately 4.4125 acres of land in Sector 78, Gurugram (Haryana). The project has a saleable area of approximately 7.25 lakh sq. ft. and an estimated sales potential of INR 1,300 Crore. The filing is an intimation under Regulation 30 of the SEBI LODR Regulations.

• · Land parcel is approximately 4.4125 acres located in Sector 78, Gurugram, Haryana
• · Transaction structured as a Joint Development Agreement rather than an outright land purchase
• · Saleable area of approximately 7.25 lakh sq. ft.; sales potential is an estimate, not a realized revenue figure

29-10-2026

The Hyderabad Bench-II of the National Company Law Tribunal sanctioned, via order dated October 28, 2026, the Scheme of Amalgamation merging wholly owned subsidiaries Gee Pee Aerospace and Defence Private Limited and Magnatar Aero Systems Private Limited into MTAR Technologies Limited, with an appointed date of April 1, 2025. The transferor companies will be dissolved without winding up, and the company will file the certified order with the Registrar of Companies within 30 days of receipt. The filing is an intimation of receipt of the order and states that the certified copy will be submitted to the stock exchanges upon receipt.

• · Appointed date of the amalgamation is April 1, 2025, and the Board of each petitioner company approved the scheme on November 5, 2025.
• · The transferor companies will be dissolved without going through winding up.
• · The company must file a certified copy of the order with the Registrar of Companies at Hyderabad within 30 days of receiving it.
• · The scheme is structured to comply with Section 2(1B) of the Income Tax Act, 1961, with all assets and liabilities transferring to MTAR Technologies Limited.
• · The stated rationale includes simplifying the corporate structure, integrating operations, achieving economies of scale and reducing administrative costs and overheads.

29-10-2026

Dollex Agrotech Ltd has incorporated a wholly owned subsidiary, Dollex Green Ventures Private Limited, effective October 28, 2026, to pursue renewable energy businesses including biogas, Compressed Biogas (CBG), bioenergy, biomethane, and organic fertilizers. The parent will subscribe to 9,999 equity shares (100% of paid-up capital, with 1 share held by a nominee) in cash, against an authorized share capital of Rs. 10,00,000. The subsidiary has no turnover as it is newly incorporated and has not yet commenced business.

• · Related party transaction: promoter/promoter group has interest in the subsidiary to the extent of their shareholding; stated to be at arm's length price
• · Subsidiary CIN: U35200MP2026PTC087947; registered office in Indore, Madhya Pradesh
• · Prior intimation to exchanges was made on October 19, 2026 regarding the proposal to incorporate the subsidiary
• · Regulatory approvals beyond competent authority approvals, if required, are not applicable

29-10-2026

NIIT Learning Systems Limited's Board approved, via its wholly owned US subsidiary NIIT (USA), Inc., the acquisition of 100% membership interest in Bluewater Learning, LLC, a Texas-based HCM learning technology consultancy, for an aggregate purchase price of up to USD 17.6 million including a five-year earnout. The transaction has already been completed in cash, with the target's estimated turnover for the twelve months ended September 30, 2026 at USD 8.5 million (unaudited), up from USD 6.2 million in FY2025 but below USD 7.5 million reported in FY2023.

• · Bluewater Learning's turnover declined about 19% from USD 7.5 Mn in FY2023 to USD 6.2 Mn in FY2025 before recovering in the trailing twelve months
• · Part of the USD 17.6 Mn price is contingent earnout payable over five years based on Bluewater's performance, so the upfront amount is lower
• · The acquisition is a cash transaction and no government or regulatory approval was required
• · The related party transaction question was answered 'No', and the target is not linked to promoter or promoter group interests
• · Turnover figures are unaudited

29-10-2026

Astra Microwave Products Limited (AMPL) received a BSE 'no adverse observations' letter and an NSE 'no objection' letter on October 29, 2026 for its proposed Scheme of Arrangement under Sections 230-232 of the Companies Act, 2013, under which its Space, Meteorology and Hydrology business would be demerged into Astra Space Technologies Private Limited (ASTPL), an unlisted company. The scheme remains subject to SEBI approval, NCLT sanction, and other regulatory approvals, and the filing contains no financial performance figures for either period.

• · SEBI's observation letter (dated October 29, 2026) requires the scheme to comply with LODR Regulation 11, and requires that financials used in the scheme and valuation report be no older than 6 months.
• · SEBI requires Clause 11.2 of the draft scheme (regarding LODR Regulation 23 compliance) to be omitted.
• · Shares allotted under the scheme must be held in demat form only and remain frozen in the depository system until listing/trading permission is granted by the designated stock exchange.
• · NSE's no-objection is conditional on ASTPL's listing being at the Exchange's discretion, and on publishing an Information Memorandum and newspaper advertisement covering ASTPL's details.
• · The company must disclose all ongoing adjudication, recovery, prosecution and enforcement actions against the entities, promoters and directors in the explanatory statement to shareholders.

29-10-2026

Gayatri Highways Limited disclosed on 29 October 2026 that it completed, on 28 October 2026, further share acquisitions in three infrastructure subsidiary/associate companies engaged in BOT-Annuity road construction: 49% additional stakes in Gayatri Jhansi Roadways Limited (GJRL) and Gayatri Lalitpur Roadways Limited (GLRL), and 11.53% in Cyberabad Expressways Limited (CEL), for cash consideration of Re. 1 per acquisition. Revenues were mixed: GJRL fell from Rs. 2924.54 Lakh in FY 2024-25 to Rs. 2558.28 Lakh in FY 2025-26 (-12.5%), GLRL fell from Rs. 2437.24 Lakh to Rs. 2183.26 Lakh (-10.4%), while CEL rose from Rs. 0.42 Lakh to Rs. 48.23 Lakh.

• · GJRL and GLRL became wholly-owned subsidiaries of Gayatri Highways Limited following the acquisition
• · CEL revenue growth is off a very low base (Rs. 0.42 Lakh in FY 2024-25), so the percentage increase is not indicative of scale
• · Transaction was stated to be at arm's length and in the best interest of the Company; the target companies are related parties and promoter-group entities
• · No governmental or regulatory approvals were stated to be required
• · Filing made under Regulation 30 of SEBI Listing Regulations, 2015 and SEBI reference HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

29-10-2026

Emmbi Industries Limited's Board approved, on 29 October 2026, the acquisition of 50% of the equity share capital of Britpac AB, Sweden (trading as "FortaPac"), through its wholly-owned Singapore subsidiary Zastian Pte. Ltd., for an aggregate consideration of approximately GBP 1,025, payable in cash. The target has not yet commenced trading and has no operating turnover, so the deal is an early-stage overseas expansion move rather than a revenue-generating acquisition.

• · Transaction is not a related party transaction, and no promoter, promoter group or group company holds any interest in the target
• · Target has no operating turnover; the business is at pre-commencement stage
• · Target's stated business scope also includes owning and managing real estate and securities
• · Completion is conditional on SPA execution, fulfilment of conditions precedent, and statutory approvals across India, Singapore and Sweden, including FEMA and RBI requirements
• · Filed under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements, 2015

29-10-2026

Restaurant Brands Asia Limited's Board approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, along with a series of governance, leadership, and related-party measures. Standalone revenue from operations for Q2 FY27 was INR 7,055.70 million, up roughly 24% YoY from INR 5,686.53 million, while the company posted a standalone profit of INR 155.85 million versus a loss of INR 202.42 million a year earlier. However, the quarter-on-quarter comparison is mixed: profit fell from a loss-making tax-adjusted baseline only because of improvement, and total comprehensive income of INR 135.24 million compares with a loss in the prior-year quarter yet declined sequentially from a positive operating trend shown in the H1 figures. Governance changes include the appointment of two additional directors (one independent, one non-independent) and the redesignation of Sumit Zaveri as CEO – India Business effective November 1, 2026.

• · Standalone total expenses rose to INR 7,196.01 Mn in Q2 FY27 from INR 6,003.70 Mn in Q2 FY26, with other expenses up about 27% YoY, a cost pressure that partly offset revenue growth.
• · Standalone finance costs increased about 12% YoY to INR 452.08 Mn in Q2 FY27, and H1 FY27 finance costs reached INR 896.88 Mn.
• · Q2 FY27 profit before tax was INR 155.85 Mn, but Q1 FY27 was a loss of INR 31.74 Mn, so the quarter was a sequential swing to profit rather than sustained improvement.
• · The Company's investments in subsidiaries rose to INR 12,126.13 Mn from INR 11,388.44 Mn at March 31, 2026, and a new non-subsidiary investment of INR 1,550.00 Mn appeared on the balance sheet.
• · Standalone net worth was supported by paid-up equity share capital of INR 7,122.18 Mn at September 30, 2026, up from INR 5,828.76 Mn at March 31, 2026, indicating a capital raise or conversion during the period.
• · Standalone current investments increased sharply to INR 9,066.38 Mn from INR 1,378.63 Mn at March 31, 2026.
• · Cash and cash equivalents declined to INR 187.14 Mn from INR 248.02 Mn at March 31, 2026, while bank balances other than cash fell to INR 38.94 Mn from INR 282.95 Mn.

29-10-2026

Ram Ratna Wires Limited's Board approved the acquisition of the remaining 50% stake (2,21,26,000 equity shares of INR 10 each) in its joint venture Epavo Electricals Private Limited from Epack Durable Limited for INR 15,00,14,280 in cash, at INR 6.78 per share. On completion, expected by November 30, 2026, Epavo becomes a wholly owned subsidiary of the Company, which has managed Epavo's day-to-day operations since inception. Epavo, which manufactures BLDC motors and air-movement solutions, reported turnover of Rs. 2,540.35 lakh for FY 2025-26, down from Rs. 4,294.55 lakh in FY 2024-25 (a decline of about 40.8%), though it was higher than the Rs. 2,663.66 lakh recorded in FY 2023-24 (about 4.6% growth over that year).

• · Epavo turnover for FY 2025-26 (Rs. 2,540.35 lakh) is below both FY 2024-25 and FY 2023-24, a mixed-to-declining trend not mentioned in the filing's own framing
• · The transaction is stated as not a related party transaction and is said to be at arm's length, with one Company director also sitting on Epavo's board
• · No governmental or regulatory approvals are required for the acquisition
• · Completion is targeted by November 30, 2026, subject to fulfilment of Share Purchase Agreement conditions
• · The Company and Epack have mutually agreed to terminate the joint venture arrangement

29-10-2026

Kajaria Ceramics Limited subscribed to 4,50,00,000 (Four Crores Fifty Lacs) 0.25% Non-Convertible Redeemable Preference Shares (NCRPS) of its step-down wholly-owned subsidiary Kerovit Global Private Limited (KGPL) on October 29, 2026, at a cost of Rs. 45 Crore, with the objective of improving KGPL's debt-equity ratio. KGPL remains a step-down wholly-owned subsidiary, and the NCRPS are redeemable on completion of ten years; the financial profile remains weak, with a Loss After Tax of Rs. 31.65 Crore against a turnover of Rs. 36.11 Crore for FY 2025-26.

• · KGPL was incorporated on January 18, 2022, and operates in India
• · KGPL's turnover rose from Rs. 0.04 Crore (FY 2023-24) to Rs. 10.84 Crore (FY 2024-25) and Rs. 36.11 Crore (FY 2025-26), while it posted a loss after tax of Rs. 31.65 Crore in FY 2025-26
• · The transaction was pre-approved by the Audit Committee and is stated to be at arm's length; it is classified as a related party transaction because KGPL is a step-down wholly-owned subsidiary
• · No new entity is being acquired; no governmental or regulatory approvals are required and no completion timeline applies
• · The NCRPS are redeemable on completion of ten years

29-10-2026

Unimech Aerospace and Manufacturing Limited has submitted additional Regulation 30 details on its proposed acquisition of 60,80,000 equity shares (76% stake) in Hobel Bellows Private Limited from its wholly owned subsidiary Innomech Aerospace Toolings Private Limited, at ₹10 per share for a total consideration of ₹6,08,00,000 (₹6.08 Crore) in cash. The transaction is a related party transaction, is to be done at arm's length based on a registered valuation report, and is expected to complete within 2 months, after which Hobel becomes a wholly owned subsidiary. Hobel was incorporated on January 9, 2026 and has no available financial statements, turnover, or size data yet.

• · Transaction is a related party transaction since the seller is a wholly owned subsidiary of the company; promoter/promoter group interest is not stated as a separate issue
• · Hobel's products serve high-horsepower diesel engines, locomotives, marine engines and power generation units
• · Completion expected within approximately 2 months, subject to formalities; no governmental or regulatory approvals reported as required
• · This is a continuation of the disclosure made on October 27, 2026

29-10-2026

Supreme Infrastructure India Limited disclosed that the Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench, by order dated October 28, 2026, disposed of the Company's application relating to its sanctioned Scheme of Compromise and granted an extension up to October 31, 2026 for payment and implementation of the remaining obligations under the Scheme. The order also sets out the mechanism for appropriation and release of funds through an escrow arrangement. The filing contains no specific monetary amounts or quantitative performance metrics.

• · NCLT Mumbai Bench case references: COMP.APPL/161(MB)2026 in C.P.(CAA)/118(MB)2024
• · Tribunal order dated October 28, 2026; disclosure filed October 29, 2026 under Regulation 30 of SEBI LODR
• · Implementation deadline for remaining Scheme obligations extended to October 31, 2026
• · Company states it is taking all necessary steps to implement the Scheme per the Tribunal's order

29-10-2026

The Hon'ble NCLT Mumbai Bench-V sanctioned, on October 29, 2026, the Scheme of Amalgamation of Nami Capital Private Limited (unlisted Transferor Company) into Pradeep Metals Limited (BSE-listed Transferee Company) under Sections 230-232 of the Companies Act, 2013. The Scheme becomes effective on filing of the certified NCLT order with the Registrar of Companies, Mumbai, and the Transferee Company will issue new equity shares to Transferor shareholders on an exchange ratio basis (19,007 equity shares for every 300 Transferor equity shares; 1 equity share for every 17 partly paid preference shares). The Regional Director's report raised procedural observations on ROC compliance, authorised capital fee differentials and the Transferor's government-authority liabilities, which the companies have responded to; the filing does not disclose a valuation or purchase consideration in monetary terms.

• · Transferor Company is engaged in trading in steel metals and trading and investing in quoted and unquoted securities; Transferee is engaged in metal forgings/castings, automotive parts, and defence and non-defence systems.
• · Stated rationale includes group structure simplification, reduced compliance burden, shareholding tier reduction and improved capital allocation.
• · Regional Director observed that the Transferor's FY 2024-25 balance sheet shows government-authority liabilities of Rs. 1.49 Lakh; the companies confirmed this and noted salary payable of Rs. 0.24 Lakh.
• · Regional Director asked that any differential authorised-capital fees be paid by the Transferee after set-off of fees already paid by the Transferor; the companies agreed to this.
• · No investigation or prosecution proceedings under Sections 210-227 of the Companies Act, 2013 are pending against either company.

29-10-2026

Skyways Air Services Ltd has made a further investment in its Dubai-based subsidiary Skyways SLS Cargo Services LLC by subscribing to additional equity share capital of up to AED 1,203,840 (approximately USD 327,888 or INR 3,13,29,824.80) for working capital requirements, as a follow-up to the earlier intimation of 17.09.2026. The company's stake will be 90% post-investment, and the transaction is expected to complete within 30 days. The subsidiary's turnover was INR 39.39 Crore in FY 2025-26, down from INR 85.57 Crore in FY 2024-25 (a decline of approximately 54%), though it was up from INR 25.73 Crore in FY 2023-24.

• · Transaction is classified as a related-party transaction, with promoters holding beneficial interest through the subsidiary; company states it is at arm's length
• · No specific governmental or regulatory approvals identified, subject to confirmation of applicable statutory approvals
• · Subsidiary incorporated 07 August 2021; operates in integrated logistics, transportation and freight forwarding in Dubai
• · Investment is for working capital requirements, paid in cash

29-10-2026

Embassy Developments Limited has executed a Share Purchase Agreement dated October 28, 2026 with CP Senior Housing (India) LLC to acquire the remaining 50% equity stake in Embassy Columbia Pacific ASL Private Limited for an agreed cash consideration of INR 32.65 crore, based on the target's enterprise value. Upon closing, expected within the quarter ending December 31, 2026, Embassy Columbia will become a wholly owned subsidiary and the existing joint venture will terminate. The target owns the Embassy Serene Amara senior living project on about 2.44 acres in Devanahalli, Bengaluru, and reported turnover of INR 41.87 crore in FY2025-26 versus nil in the two prior years.

• · The acquisition is not a related party transaction, and CP Senior is not a related party of the Company
• · No governmental or regulatory approvals are required for the acquisition
• · Closing is subject to customary closing conditions and is expected within the quarter ending December 31, 2026
• · Target incorporated April 27, 2021; operations are limited to India
• · Target had nil turnover in FY2023-24 and FY2024-25, with first revenue of INR 41.87 crore in FY2025-26

29-10-2026

Laurus Labs' Board approved on October 29, 2026 the acquisition of a 60% stake in Galenvs Sciences Inc., a Montréal-based CRO/CDMO specializing in custom oligonucleotide synthesis and magnetic-nanoparticle technologies, at a pre-money valuation of USD 3.50 million. The total investment is USD 3.75 million (USD 2.75 million primary subscription plus USD 1.00 million secondary purchase from the founder), funded in cash, with completion expected within the current financial year. Galenvs' revenue declined 4% in CY2025 to CAD 1.65 million from CAD 1.28 million... [see note] and remains very small relative to the acquirer.

• · Galenvs was incorporated on 26 September 2016 and operates R&D and laboratory facilities in Montréal, with presence in North America.
• · Post-closing, Galenvs becomes a subsidiary of Laurus Labs, and its wholly owned subsidiary Galenvs Solutions Inc. becomes a step-down subsidiary.
• · The transaction is not a related party transaction; promoters and promoter group have no interest in Galenvs.
• · Remaining Galenvs shares may be acquired from the Founder in the future on a milestone basis.
• · Closing is subject to FEMA compliance and customary closing conditions; Laurus Labs will make required regulatory filings.
• · The Board meeting commenced at 2:00 p.m. IST and concluded at 2:47 p.m. IST on October 29, 2026.