India Pre-Market Regulatory Roundup — March 25, 2026

24-03-2026

IIRM Holdings India Limited's wholly owned subsidiary, India Insure Risk Management and Insurance Broking Services Private Limited, is acquiring 100% equity shares in Safe Risk Insurance Brokers Private Limited (SafeRisk) for tentative consideration of ₹29.71 Cr in equity shares and ₹55.12 Cr in cash. SafeRisk, an insurance broking firm with FY 2024-25 turnover of ₹27.78 Cr, net worth of ₹1 Cr, and PAT of ₹17.91 Cr, will become a subsidiary, enhancing the group's presence in insurance broking and risk management. However, SafeRisk's turnover declined approximately 18% YoY from ₹33.82 Cr in FY 2023-24.

• · SafeRisk incorporated on December 1, 2014, and is based in Bhubaneswar.
• · Regulatory approval required: Insurance Regulatory and Development Authority of India (IRDAI).
• · Completion timeframe: Within 15 days of Special Resolution by members or receipt of regulatory approvals.
• · Previous disclosures: July 31, 2025 and October 30, 2025.
• · No related party transaction; at arm's length.

24-03-2026

Biogen Pharmachem Industries Limited clarified details from its Board Meeting outcome on March 23, 2026, regarding the appointment of M/s. Goenka Mehta & Associates, Rajkot, as Statutory Auditors to fill the casual vacancy caused by the resignation of M/s. Rishi Sekhri & Associates, Mumbai, due to significant medical conditions. The resignation was effective February 9, 2026, with disclosures filed on February 9 and 10, 2026, and the new appointment effective from the Board Meeting on February 11, 2026, subject to shareholder approval via postal ballot. No concerns or qualifications were noted in the resigning auditor's communication.

• · CIN: L51100GJ1995PLC026702
• · Scrip Code: 531752; Scrip ID: BIOGEN
• · Previous auditor re-appointment: September 25, 2025; Term to expire: March 31, 2030
• · Latest audit report submission: November 7, 2025
• · New auditor FRN: 129445W; Proven track record in statutory and internal audits for manufacturing companies
• · Former company name: SUN TECHNO OVERSEAS LIMITED

24-03-2026

Sanathan Polycot Private Limited (SPPL), a wholly owned subsidiary of Sanathan Textiles Limited, has signed a Share Subscription and Shareholders’ Agreement and a Power Supply and Consumption Agreement to acquire a 26% stake in Serentica Renewables India 33 Private Limited for ₹48 Cr in tranches, securing 32 MW captive renewable power capacity. This move supports long-term energy cost optimization and sustainability goals by reducing emissions intensity. The transaction is not a related party deal, requires regulatory approvals, and is expected to complete per tranche timelines.

• · Target entity Serentica Renewables India 33 Private Limited incorporated on June 29, 2025, and engaged in ISTS-connected captive power projects in India.
• · No governmental or regulatory approvals specified as required beyond customary conditions precedent.
• · Promoter/promoter group companies have no interest; transaction at arm's length.

24-03-2026

Mysore Paper Mills Ltd. informed BSE of a further pre-ponement of its Board of Directors meeting from 12:30 PM to 11:00 AM on March 25, 2026, originally scheduled for 3:00 PM, due to the Chairman's availability for the Government of Karnataka's Adhiveshana. The agenda items remain unchanged. This update complies with Regulation 29 of SEBI (LODR) Regulations, 2015.

• · CIN: L98999KA18365GC000173
• · Company website: www.mpm.co.in
• · Regd. Office: No 32, 5th Floor, Karnataka State Co-operative Federation Ltd., Bengaluru
• · Mill location: MillPaperTown, Bhadravati

24-03-2026

The Board of Josts Engineering Co. Ltd. approved the divestment of 50% equity stake in its JV Suryavayu Renewable and Energy Solutions Private Limited (SRESPL, nil income and ₹5L net worth in FY25) to Kay Cee Energy & Infra Limited at ₹4.124 per share, after which it will cease to be a JV; approved incorporation of a new wholly owned subsidiary (e.g., Josts Techno Solutions Pvt Ltd) with ₹1L authorized capital for engineered products and services business. Additionally, noted resignation of CFO Pranesh Bhandari effective 31 March 2026 and appointed K C Somani as new CFO effective 1 April 2026; authorized four senior officials for materiality determinations and disclosures from 1 April 2026.

• · Divestment expected to complete within 1 month from 24 March 2026
• · New subsidiary name to be Josts Techno Solutions Pvt Limited or Josts Tech Services Pvt Ltd or similar, subject to MCA approval
• · Board meeting held on 24 March 2026 from 07:30 p.m. to 08:22 p.m.

24-03-2026

Wardwizard Healthcare Limited has issued a postal ballot notice dated March 23, 2026, seeking shareholder approval for 15 material related party transactions (RPTs) for FY 2026-27, including up to ₹50 Cr aggregate with Wardwizard Medicare Private Limited (covering purchases/sales of goods/services, borrowings, and loans) and up to ₹30 Cr with Wardwizard Solution India Private Limited. Remote e-voting opens March 27, 2026, and closes April 25, 2026, with no financial performance data or period comparisons disclosed. The transactions are stated to be in the ordinary course of business at arm's length.

• · Board meeting held on March 23, 2026, approved the postal ballot and appointed Kamal A Lalani as scrutinizer.
• · Cut-off date for e-voting eligibility: March 20, 2026.
• · Results to be announced within 2 working days post April 25, 2026, and hosted on company website https://www.ayokimerchantile.com and NSDL.
• · Additional RPT approvals sought with WIMPL, Yatin Sanjay Gupte (HUF), and others (no specific amounts disclosed).

24-03-2026

Asian Paints Limited's subsidiary Harind Chemicals and Pharmaceuticals Private Limited (51% owned) has approved the amalgamation of its wholly-owned subsidiary Nova Surface-Care Centre Private Limited, with boards approving the scheme on March 24, 2026, subject to regulatory approvals. The merger aims to streamline operations, reduce regulatory compliances and administrative costs, with no cash consideration as Nova's shares will be cancelled; it is not expected to have any material impact on Asian Paints' financials. Harind reported net worth of ₹18.81 Cr and turnover of ₹37.87 Cr as of March 31, 2025, while Nova had ₹0.49 Cr net worth and ₹0.08 Cr turnover.

• · Harind incorporated on 6 June 1995; Nova on 7 September 2011.
• · Nova engaged in testing services for paints and related chemicals; Harind in manufacturing/dealing chemical products related to paints.
• · Transaction is related party at arm's length, approved by Audit Committee; no change in shareholding pattern of listed entity.

24-03-2026

Indrayani Biotech Ltd. disclosed that its Board of Directors, in a meeting held on March 24, 2026, accepted the resignation of Mr. Singarababu Indirakumar (DIN: 00892351) from the position of Whole-time Director, effective immediately at the close of business hours on the same day. The resignation is attributed to professional reasons, pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015. An attached email reveals that Mr. Indirakumar had already tendered his resignation on March 16, 2026, and notified the company that the board meeting notice dated March 20, 2026, was not applicable to him.

• · Resignation intimated to ROC and others on March 16, 2026
• · Board meeting scheduled for March 24, 2026 at 11:00 AM at registered office
• · Company CIN: L40100TN1992PLC129301
• · Scrip Code: 526445

24-03-2026

Simran Farms Ltd. has intimated BSE about a Board of Directors meeting scheduled for March 30, 2026, to approve the allotment of 10,18,300 equity shares of ₹10 each (total face value ₹1.02 Cr) upon conversion of equivalent share warrants, after receiving the balance 75% consideration from promoter group members and other persons. The meeting will also approve the notice for postal ballot and e-voting process. Trading window for insiders remains closed until 48 hours post-meeting.

• · Meeting venue: Registered Office at 1-B, Vikas Rekha Complex, Tower Square, Khatiwala Tank, Indore (M.P.)-452001
• · BSE Scrip Code: 519566; ISIN: INE354D01017
• · Allotment to members of promoter group and other non-promoter persons

24-03-2026

Interarch Building Solutions Limited completed the acquisition of approximately 52,855 square meters of freehold industrial land in Gujarat on March 24, 2026, for ₹5.81 Cr (excluding stamp duty and registration fees). The land is located at Block/Survey No. 276, Mouje Viroja, Taluka Matar, Kheda district, and was purchased from Mr. Iqbalbhai Husenbhai Shaikh via a registered Sale Deed for setting up or expanding industrial/operational facilities. This transaction is not a related party transaction and follows a prior disclosure on February 2, 2026.

• · Detailed location: Block/Survey No. 276 (Old Survey No. 173-A-1/Paiki 1), City Survey No. NA 276, Mouje Viroja, Taluka: Matar, Registration District of Kheda and Sub-District of Kheda (Matar), Gujarat, India.
• · Mode of acquisition: Purchase through a registered Sale Deed.
• · Disclosure pursuant to Regulation 30 read with Schedule III of SEBI (LODR) Regulations, 2015.

24-03-2026

RBI has approved the proposed acquisition of controlling stake in Sammaan Capital Limited by Avenir Investment RSC Ltd (owned by International Holding Company PJSC), including indirect change of control in subsidiary Sammaan Finserve Limited and waiver of public notice period. The investor will infuse approximately ₹8,850 Cr via preferential issue, resulting in 41.23% stake post-issue and up to 63.36% post-open offer assuming full uptake. The only remaining approval is from SEBI, with active engagement underway for timely completion.

• · RBI approval letter dated March 24, 2026
• · Previous intimations dated October 2, 2025; October 29, 2025; November 7, 2025; December 10, 2025
• · Share subscription agreement dated October 2, 2025
• · Assumptions for stakes include full warrant conversion, partly-paid shares, employee stock options, and full open offer uptake with nil tendering by non-promoter non-public category

24-03-2026

Nexome Capital Markets Limited (formerly SMIFS Capital Markets Limited) approved the allotment of 29.39 lakh fully paid-up equity shares at ₹75 each (including ₹65 premium) following its Rights Issue of ₹22.04 Cr, which was oversubscribed by 100.79%. The Rights Issue opened on March 13, 2026, and closed on March 23, 2026, with the committee meeting held on March 24, 2026. Post-allotment, the paid-up equity share capital increased to 88.16 lakh shares of ₹10 each.

• · Letter of Offer dated February 24, 2026
• · Rights Issue Committee meeting commenced at 07:50 P.M. and concluded at 08:05 P.M. on March 24, 2026
• · Basis of Allotment finalised in consultation with Registrar to the Issue and approved by BSE Limited
• · CIN: L74300WB1983PLC036342

24-03-2026

HDFC Bank Limited has scheduled a Board of Directors meeting on April 18, 2026, to approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and to recommend dividend for FY 2025-26, if any, including fixation of record date. The trading window for designated employees and their immediate relatives will remain closed from March 25, 2026, to April 20, 2026, in compliance with SEBI regulations. No financial metrics or performance data are disclosed in this intimation.

• · Board meeting scheduled for Saturday, April 18, 2026.
• · Trading window closure: Wednesday, March 25, 2026 to Monday, April 20, 2026 (both days inclusive).
• · Intimation under Regulation 29 and 50 of SEBI (LODR) Regulations, 2015 and SEBI (Prohibition of Insider Trading) Regulations, 2015.
• · CIN: L65920MH1994PLC080618; Scrip Code BSE: 500180; NSE Symbol: HDFCBANK.

24-03-2026

Manappuram Finance Limited has intimated stock exchanges about a Board meeting scheduled for March 30, 2026, to consider and approve the borrowing program for FY 2026-27. The agenda includes issuance of redeemable non-convertible debentures, notes, bonds, and other debt securities via private placement, public issue, or other permissible modes in onshore and/or offshore markets. No specific borrowing amounts or terms have been disclosed.

• · Reference No.: SEC/ SE/ 218/ 2025 - 26
• · NSE Code: MANAPPURAM
• · BSE Scrip Code: 531213
• · Regulations cited: 29 and 50 of SEBI (LODR) Regulations, 2015

24-03-2026

Olympic Cards Ltd is requesting full waiver of residual fines totaling ₹2.76 lakh (plus 18% GST of ₹0.50 lakh, aggregating ₹3.26 lakh) imposed by BSE for non-compliances under SEBI (LODR) Regulations including Reg 19(1)/(2), Reg 31 for Dec 2020 (₹1.54 lakh residual) and Reg 18(1), Reg 19(1)/(2) for Dec 2024 (₹1.44 lakh residual), citing COVID-19 disruptions, staff illness (Company Secretary's death on 3.2.2021), and timely remedial actions like director appointments. Partial waivers have been granted, such as for Reg 7(1) Dec-2020 (₹0.92 lakh) and others like SOP-Reg-13(3) Mar-20 (₹0.10 lakh), but significant fines remain outstanding. No financial performance data provided.

• · Company Secretary died on 3.2.2021 amid prolonged illness during COVID-19.
• · Revised Corporate Governance Report filed on 19.02.2021 including new committee member.
• · New Independent Director appointed within 3 months via EGM for Dec 2024 compliances, intimated to BSE.
• · BSE Internal Regulatory Oversight Group waived fines for Reg 7(1) Dec-2020 on 20.03.2026 based on compliance certificates.
• · Other waived fines include SOP-Reg-13(3) Mar-20 (₹10,000), SOP-Reg-24A Mar-23 (₹8,000), SOP-Reg-24A Mar-24 (₹26,000), SOP-Reg-31 Mar-20 (₹22,000), SOP-Reg-31 Dec-20 (₹8,000 partial), SOP-Reg-34 Mar-22 (₹5,289).

24-03-2026

JM Financial Limited subscribed to 24,25,000 ordinary shares of its wholly-owned subsidiary JM Financial Overseas Holdings Private Limited (JMFOHPL) for USD 3.59 million (~₹33.70 Cr) at a premium of USD 0.48 per share to support overseas business expansion. JMFOHPL, an investment holding company in Mauritius, reported turnover growth to ₹13.59 Cr in FY 2024-25 (up 17.1% YoY from ₹11.61 Cr) and significantly higher than ₹5.17 Cr in FY 2022-23 (124.6% increase from prior year). No declines noted in subsidiary performance.

• · Filing date: March 24, 2026
• · JMFOHPL date of incorporation: October 6, 2008
• · JMFOHPL presence: Mauritius; registered with Financial Services Commission as ‘Global Business License - Category 1’
• · Indicative completion timeframe: Approximately three months
• · USD to INR exchange rate used: ₹93.91 per USD
• · Transaction qualifies as related party but exempted as wholly-owned subsidiary

24-03-2026

Power Grid Corporation of India Limited disclosed links to the video and audio recordings of a webinar held on March 23, 2026, at 11:00 A.M. IST, for analysts and investors, where senior management discussed the company's business update. The disclosure complies with Regulation 30 of SEBI (LODR) Regulations, 2015, and was filed on March 24, 2026. No specific financial metrics or performance data were included in the filing.

• · NSE Scrip ID: POWERGRID; BSE Scrip Code: 532898; ISIN: INE752E01010
• · CIN: L40101DL1989GOI038121
• · Website: www.powergrid.in

24-03-2026

Vapi Enterprise Ltd. (formerly Vapi Paper Mills Ltd.) has closed its trading window from April 1, 2026, until 48 hours after the board meeting to approve financial results for the quarter and year ended March 31, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015. This restriction applies to directors, promoters, KMP, designated employees, and specified connected persons to prevent trading in company securities during this period. No financial data or performance metrics are disclosed in this intimation.

• · CIN: L21010MH1974PLC032457
• · BSE Company Code: 502589
• · Registered Office: 213 Udyog Mandir, Pitamber Lane, Mahim (West), Mumbai 400016

24-03-2026

Hari Govind International Limited has complied with SEBI Listing Regulations 30 & 47 by publishing newspaper advertisements for the Notice of Extra-Ordinary General Meeting (EGM) and e-voting information on March 24, 2026. The ads appeared in Nagpur Post (English daily) and Mahasagar (regional daily), announcing the EGM to be held via video conference or other audio-visual means. The disclosure was submitted to the Bombay Stock Exchange (Scrip Code: 531971).

• · Registered office: 125, Wardhman nagar, Near Radha Krishna Mandir, Nagpur-08
• · Email: hgil.ngp@gmail.com
• · Website: www.hgil.in

25-03-2026

SGL Resources Limited received a fine of ₹88,500 (including GST) from BSE Limited on March 17, 2026, for non-compliance with SEBI Regulation 33 due to late filing of unaudited financial results for the quarter ended December 31, 2025. The company paid the fine on March 24, 2026, after filing the results on March 3, 2026, and plans to seek a waiver to avoid further penalties. This incident highlights a compliance lapse with no other financial impact reported.

• · Script Code: 526544; ISIN: INE967B01028
• · CIN: L62013GJ1992PLC017073
• · Results approved by Board on March 3, 2026
• · Payment made to avoid further penal consequences

25-03-2026

Kajaria Ceramics Limited completed the acquisition of an additional 9,50,000 equity shares (10% stake) in Kajaria Surfaces Private Limited for ₹1.16 Cr on March 24, 2026, increasing its ownership from 90% to 100% and making Kajaria Surfaces a wholly-owned subsidiary. The target entity, a tile manufacturer incorporated on December 11, 2023, reported turnover of ₹109.97 Cr and profit after tax of ₹1.09 Cr for FY 2024-25, with nil turnover in FY 2023-24 due to its recent incorporation. The transaction was a related party deal conducted at arm's length with prior Audit Committee approval.

• · Kajaria Surfaces incorporated on December 11, 2023
• · Previous disclosure letter dated January 30, 2026
• · Related party transaction involving shareholders including a director of Kajaria Infinity Private Limited
• · No governmental or regulatory approvals required