India Sector Consolidation Regulatory Filings — July 29, 2026

29-07-2026

The Phoenix Mills Limited, along with its subsidiary Offbeat Developers Private Limited, has entered into an amendment to the Security Subscription and Shareholders' Agreement (SSSA) with JSW Neo Energy Limited and O2 Renewable Energy XXVIII Private Limited to invest a total of ₹5,76,90,000 in equity shares and Series B Compulsory Convertible Debentures of O2 Renewable XXVIII. The investment is aimed at meeting captive user requirements for solar power under the Electricity Act, 2003, and will enable the company to consume renewable energy generated by the captive plant. The target entity, O2 Renewable XXVIII, is a newly incorporated company with no turnover and negative net worth, reflecting its early-stage development.

• · The acquisition does not fall within related party transactions, and the promoter/promoter group has no interest in O2 Renewable XXVIII.
• · The combined shareholding of Phoenix Mills and Offbeat in O2 Renewable XXVIII will not exceed 45% on a fully diluted basis.
• · O2 Renewable XXVIII was incorporated on July 31, 2024, and has no turnover for FY 2025-26; its net worth is negative at ₹-3,128.87 thousand as of FY 2025-26.
• · The completion of the acquisition is expected within 30 business days from the execution of the amendment to the SSSA.

29-07-2026

The filing is a clarification sought by BSE from Go Digit General Insurance Ltd regarding a news article from Economic Times dated July 29, 2026, which mentions 'CCI clea...' (likely CCI clearance for a merger/acquisition). No specific deal details, financial terms, or parties are disclosed in the filing. The event is categorized under 'technology' sector, but the filing provides no quantitative data, strategic rationale, or valuation metrics. The analysis is severely limited by lack of information.

• · Filing date: July 29, 2026
• · Source: BSE
• · Event type: Merger/Acquisition (as per filing header)
• · Sector classification: technology
• · News article reference: Economic Times, July 29, 2026, mentioning 'CCI clea...' (likely CCI clearance)
• · No financial data, parties, or deal structure disclosed in this filing

29-07-2026

Indo-National Limited (INL) has acquired a 31.82% stake in Aidin Technologies Private Limited, a defence electronics company, for an aggregate consideration of ₹34,99,92,034 (₹34.99 Cr). The acquisition is structured in two tranches, with Tranche 1 completed on July 29, 2026, and Tranche 2 expected by July 28, 2027. This investment marks INL's entry into the defence and aerospace sector, which it describes as a ~₹25,000 Cr market growing at 12-14% CAGR, aiming to diversify its business beyond its traditional consumer focus.

• · Aidin Technologies was incorporated on May 2, 2008, and is engaged in radio frequency power electronics and embedded system technologies.
• · The acquisition is not a related party transaction; promoters/promoter group have no interest.
• · No governmental or regulatory approvals are required for the acquisition.
• · Consideration is in cash.
• · Tranche 2 is expected to be completed on or before July 28, 2027.
• · Aidin Technologies' turnover grew from ₹1,57,986 thousands in FY 2022-23 to ₹7,43,123 thousands in FY 2024-25, representing a 191.5% increase over two years.

29-07-2026

SML Mahindra Limited's Board approved the acquisition of Mahindra & Mahindra's Truck and Bus Division (MTBD) on a slump sale basis for a cash consideration of Rs. 525 crore, subject to working capital adjustments. The acquisition, a related-party transaction, aims to create a unified truck and bus business within the Mahindra Group, combining SML's market-leading position in the ILCV buses segment with MTBD's portfolio across light, intermediate, and heavy commercial vehicles. The transaction is expected to be completed by January 31, 2027, subject to shareholder approval.

• · The acquisition is a related-party transaction as M&M holds 58.97% of SML's equity and is the promoter.
• · Consideration was derived based on a valuation report from BDO Valuation Advisory LLP.
• · Manufacturing of Mahindra branded trucks and buses will continue under a contract manufacturing arrangement with M&M.
• · The transaction is subject to shareholder approval under Regulation 23 of LODR Regulations and other applicable provisions.
• · The Board meeting lasted from 1:35 PM to 1:50 PM on July 29, 2026.

29-07-2026

South City Projects (Kolkata) Private Ltd filed an intimation of listing approval for Non-Convertible Debentures (NCDs) pursuant to a Scheme of Amalgamation. The filing is purely procedural regarding the listing of NCDs on the exchange; no financial details, deal valuation, swap ratio, or strategic rationale are disclosed. The sector is listed as 'technology', but no operational or financial metrics are provided.

• · Filing is an intimation of listing approval for Non-Convertible Debentures (NCDs) pursuant to a Scheme of Amalgamation.
• · No details on the amalgamation scheme, parties involved, or financial terms are provided.
• · Sector is classified as 'technology' but no operational or financial data is disclosed.

29-07-2026

5paisa Capital Limited has revised its board meeting outcome to correct an error regarding the acquisition of Giskard Datatech Private Limited (GDPL). The company clarified that the acquisition of 100% of GDPL will be undertaken by 5paisa itself, not its promoters, through a combination of cash consideration of up to ₹1,21,57,49,108 and a share swap of 20,50,588 equity shares at a ratio of 1:31. The acquisition aims to strengthen 5paisa's digital investment ecosystem with advanced research and analytics capabilities, with GDPL's turnover growing from ₹7.66 crore in FY23 to ₹15.75 crore in FY25.

• · The Board meeting commenced at 8:30 p.m. and concluded at 9:30 p.m. on July 28, 2026.
• · The valuation report for Giskard was issued on June 18, 2026, by Mr. Raghav Mandhana (IBBI Registration No. IBBI/RV/06/2025/15965).
• · The acquisition is subject to SEBI approval due to Giskard's Research Analyst registration under SEBI (Research Analysts) Regulations, 2014.
• · The indicative time period for completion of the acquisition is up to 6 months.
• · The acquisition does not fall within related party transactions.
• · Giskard was incorporated on June 13, 2016, and primarily operates in India with no known overseas operations.

29-07-2026

Transindia Real Estate Limited has received an NCLT order dated July 15, 2026, directing it to issue notice to equity shareholders regarding the proposed Scheme of Amalgamation of its wholly owned subsidiary, Madanahatti Logistics and Industrial Parks Private Limited, with itself. The NCLT has dispensed with the requirement of a shareholder meeting for the transferee company, and shareholders have 30 days from receipt of notice to make representations. The filing is procedural and does not contain any financial figures or performance metrics.

• · NCLT Mumbai Bench order dated July 15, 2026, in Company Scheme Application No. C.A. (CAA)/232/MB-III/2025.
• · NCLT dispensed with the requirement of convening a meeting of equity shareholders of the transferee company (Transindia Real Estate Limited).
• · Shareholders have 30 days from receipt of notice to make representations to the NCLT.
• · Cut-off date for determining shareholders entitled to notice: July 17, 2026.
• · Documents available for inspection on company website and at registered office on working days between 2:00 p.m. and 4:00 p.m.

29-07-2026

WaveRise Investments Limited, ChrysCapital Fund X, and Two Infinity Partners (collectively the Acquirers) have acquired a controlling 70.68% stake in Novartis India Limited via an off-market transfer on July 29, 2026. Acquirer 1 (WaveRise Investments Limited) obtained 56.45%, Acquirer 2 (ChrysCapital Fund X) obtained 10.32%, and Acquirer 3 (Two Infinity Partners) obtained 3.91% of the total equity. The acquisition results in a change of control, with the Acquirers becoming the new promoters of the company.

• · The acquisition was executed as an off-market transfer on July 29, 2026.
• · Prior to the acquisition, none of the Acquirers or PACs belonged to the promoter/promoter group of Novartis India.
• · Post-acquisition, Acquirer 1 and Acquirer 2 are in control and have become promoters; Acquirer 3's shareholding is included as part of the promoter group.
• · The total equity share capital of the target company is INR 12,34,53,985 comprising 2,46,90,797 fully paid-up equity shares of face value INR 5 each.
• · No warrants, convertible securities, or encumbrances were involved in the acquisition.

29-07-2026

Triveni Power Transmission Ltd (TPTL) has allotted 7,34,54,338 equity shares of ₹2 each to eligible shareholders of Triveni Engineering & Industries Ltd (TEIL) as per the composite scheme of arrangement, resulting in TPTL ceasing to be a subsidiary and becoming an associate of TEIL. The board also appointed new leadership including Tarun Sawhney as Vice Chairman & Managing Director, and designated several senior management personnel, while accepting the resignations of two directors. The scheme is progressing toward listing of TPTL shares.

• · Record date for share entitlement was July 22, 2026.
• · Ernst & Young appointed as internal auditor for FY 2026-27.
• · Tarun Sawhney appointed as Vice Chairman & Managing Director for a five-year term, subject to shareholder approval.
• · Mr. Dhruv M. Sawhney and Mr. Nikhil Sawhney are related to Tarun Sawhney (father and brother respectively).
• · The company adopted certain policies to comply with Companies Act, 2013 and SEBI LODR Regulations in preparation for listing.
• · No financial performance data or period-over-period comparisons were provided in this filing.

29-07-2026

Panorama Studios International Limited has executed a Letter of Intent (LOI) with Sony Pictures Networks Entertainment Private Limited to acquire non-linear and/or on-demand transmission rights for the Malayalam film 'Unmadam' via Sony LIV and other OTT platforms where Sony LIV is distributed. The filing does not disclose any financial terms or other material details of the arrangement.

• · The LOI covers non-linear and/or on-demand transmission rights for the Malayalam film 'Unmadam'.
• · The rights are for Sony LIV and any other OTT platform on which Sony LIV is distributed.
• · No financial consideration, timeline, or binding commitment beyond the LOI has been disclosed.

29-07-2026

Systematix Corporate Services Limited has invested ₹2,50,00,000 (₹2.5 Cr) in its wholly owned subsidiary Systematix Wealth & Asset Services Private Limited (SWASPL) by subscribing to 25,00,000 equity shares at ₹10 each via a rights issue. The investment is intended to meet the working capital requirements of SWASPL, which focuses on Alternative Investment Funds, wealth management, and distribution services. While SWASPL's turnover surged from nil in FY2024-25 to ₹193.06 Lakhs in FY2025-26, it had virtually no revenue in the prior two years, indicating a nascent but rapidly growing business.

• · SWASPL was originally incorporated as Systematix Ventures Private Limited and later renamed to Systematix Wealth & Asset Management Private Limited before its current name.
• · SWASPL holds registrations from AMFI and SEBI as a Portfolio Manager.
• · The transaction is classified as a related party transaction but is stated to be at arm's length.
• · The promoter/promoter group has no interest in SWASPL beyond shareholding and directorship.
• · No governmental or regulatory approvals are required for this acquisition.
• · The investment is in cash consideration.

29-07-2026

HEG Limited has notified physical shareholders to urgently update KYC details and dematerialize shares before the record date for the allotment of equity shares of HEG Graphite Limited under a composite scheme of arrangement. The scheme involves the demerger of HEG's graphite business into HEG Graphite Limited, with eligible shareholders receiving one equity share of the resulting company for each share held. Failure to comply will result in shares being credited to an escrow account, causing delays in receipt of benefits.

• · The scheme is under Sections 230 to 232 of the Companies Act, 2013.
• · Shareholders will receive 1 equity share of HEG Graphite Limited for every 1 equity share held in HEG Limited.
• · Shares of the resulting company can only be issued in dematerialized form; no physical certificates will be issued.
• · Physical shareholders must submit documents including PAN, Aadhaar, ISR-1, ISR-2, SH-13 forms, and a cancelled cheque.
• · The record date has not been specified in the filing.
• · If KYC/demat is not completed, shares will be held in trust and credited to an escrow demat account.

29-07-2026

Inventurus Knowledge Solutions Limited disclosed the incorporation of a step-down wholly owned subsidiary, Value Partners Collective ACO, LLC (VPCA), in the United States. VPCA was incorporated on May 5, 2026, with zero capitalization and no revenue, and its purpose is to apply for the CMS LEAD program, a voluntary 10-year value-based healthcare model. The filing notes that VPCA has no immediate material financial impact and will be dissolved if not selected by CMS.

• · VPCA is a single-member LLC, 100% owned by IKS Inc.
• · VPCA's office is at 8951 Cypress Waters Blvd, Suite 100 Coppell TX 75019, USA.
• · If VPCA is not selected for the LEAD program, the entity will be dissolved.
• · The incorporation does not constitute a related party transaction.
• · No governmental or regulatory approvals are required for the acquisition.

29-07-2026

Astral Limited's Board, following a comprehensive independent review and stakeholder feedback, has decided to withdraw the proposed Composite Scheme of Arrangement for the demerger of its Chemical Business. The independent consultant recommended against proceeding in the present form due to the current scale of the Chemical Business, and the Board concluded the scheme is not in the best interests of the company and shareholders at this stage. The company remains committed to enhancing shareholder value and may revisit the demerger once the Chemical Business achieves sufficient scale and financial strength.

• · The Board meeting commenced at 04:00 P.M. and concluded at 04:30 P.M. on July 29, 2026.
• · The decision follows prior disclosures made on June 25, 2026 and July 5, 2026 regarding the independent review.
• · The independent consultant evaluated both the current scheme and other restructuring options.
• · The Board considered feedback from shareholders, investors, and other market participants.

29-07-2026

The National Company Law Tribunal (NCLT), Mumbai Bench, has sanctioned the Scheme of Arrangement between Siyaram Silk Mills Limited and its shareholders under Section 230 of the Companies Act, 2013. The scheme involves issuing bonus Preference Shares to equity shareholders using the company's general reserves, rewarding shareholders while maintaining sufficient cash for business needs. The scheme was approved by equity shareholders and unsecured creditors with no objections from any party.

• · The scheme was approved by the Board of Directors on 26.10.2024.
• · Meetings of equity shareholders and unsecured creditors were held on 29.12.2025.
• · The meeting of secured creditors was dispensed with due to consent affidavits.
• · The company received observation letters from BSE (11.07.2025) and NSE (07.07.2025) under Regulation 37 of SEBI Listing Regulations.
• · The Regional Director, Ministry of Corporate Affairs, filed a report dated 15.04.2026 with observations, all of which were addressed by the company.
• · No inquiries, inspections, investigations, or prosecutions are pending against the company under the Companies Act, 2013.
• · The company undertakes to comply with directions from sectoral regulators, Income Tax Department, and GST Department.

29-07-2026

Allcargo Global Ltd's wholly owned subsidiary, Ecu Global N.V., acquired the remaining 10% stake in ECUnordicon AB for SEK 17,600,000 (cash consideration), increasing its holding to 100%. The target entity, a Swedish multimodal transportation and warehousing company, reported a net revenue of SEK 462,555,733 for Jan-Dec 2025, down from SEK 541,851,764 in the prior year, reflecting a decline of approximately 14.6% YoY.

• · The acquisition was executed via a put option in a shareholders agreement dated July 29, 2021.
• · ECUnordicon AB was incorporated on July 7, 2021.
• · The acquisition is not a related party transaction.
• · No governmental or regulatory approvals were required.
• · The company's website provides further details: https://www.allcargo.global.

29-07-2026

ACC Limited (Amalgamating Company) received an order from NCLT Ahmedabad Bench on July 29, 2026, directing it to convene a meeting of equity shareholders on September 29, 2026, to consider and approve the Scheme of Amalgamation with its holding company Ambuja Cements Limited (Amalgamated Company), effective from the appointed date of January 1, 2026. The order was issued in a joint company application under Sections 230-232 of the Companies Act, 2013. As of March 31, 2026, ACC had 2,35,988 equity shareholders, no secured creditors, and total outstanding unsecured debt of Rs.4950.67 Crore, but an excess of assets over liabilities of Rs.20,416.35 Crore.

• · The appointed date for the scheme is January 1, 2026.
• · ACC Limited was incorporated on 01.08.1936 as The Associated Cement Companies Ltd., name changed to ACC Ltd. on 01.09.2006, registered office shifted from Maharashtra to Gujarat on 18.03.2024.
• · Ambuja Cements Limited was incorporated on 20.10.1981, has undergone multiple name changes, and its GDRs are listed on the Luxembourg Stock Exchange.
• · The issued share capital of ACC includes 10,05,980 equity shares difference (unallotted, forfeited, kept in abeyance) largely from right issues in FY1995 and FY1999.
• · Ambuja Cements has 13,39,613 equity shares represented by global depository receipts as of May 31, 2026.

29-07-2026

EFC (I) Limited announced that its material wholly owned subsidiary, EFC Limited, along with three step-down subsidiaries, has withdrawn the proposed Scheme of Arrangement for Demerger that was originally intended to be implemented via the fast-track merger route. The withdrawal was approved by the respective boards on July 29, 2026, citing prevailing legal and regulatory framework, operational requirements, and overall business considerations. An application to formally withdraw the scheme will be filed with the Hon’ble Regional Director, Mumbai.

• · The demerger scheme was initially disclosed on December 24, 2024.
• · The scheme was proposed under Section 233 of the Companies Act, 2013 (Fast Track Merger).
• · Withdrawal was approved by the boards of EFC Limited and the three step-down subsidiaries on July 29, 2026.
• · An application to withdraw the Scheme will be filed with the Hon’ble Regional Director, Mumbai.

29-07-2026

Ambuja Cements Limited has received an order from the NCLT, Ahmedabad Bench, directing it to convene a meeting of equity shareholders on September 29, 2026, to consider and approve the Scheme of Amalgamation of ACC Limited (Amalgamating Company) with Ambuja Cements Limited (Amalgamated Company). The scheme, effective from January 1, 2026, involves the dissolution of ACC without winding up and issuance of new equity shares to ACC shareholders based on a share exchange ratio. Ambuja Cements, which already holds 50.05% of ACC's equity, will absorb ACC as a going concern, consolidating its position in the cement industry.

• · The appointed date for the amalgamation is January 1, 2026.
• · ACC Ltd. has no secured creditors and no preference shareholders as on March 31, 2026.
• · ACC Ltd. has 2,35,988 equity shareholders as on March 31, 2026.
• · Ambuja Cements Ltd. has 6,13,421 equity shareholders as on April 10, 2026.
• · Ambuja Cements' equity shares are listed on NSE and BSE; its GDRs are listed on the Luxembourg Stock Exchange.
• · The scheme follows prior amalgamations of Adani Cementation Limited (effective August 1, 2025), Sanghi Industries Limited (effective March 12, 2026), and Penna Cement Industries Limited (effective April 10, 2026) into Ambuja Cements.

29-07-2026

Power Grid Corporation of India Limited (POWERGRID) has acquired 100% of Bhadla Ramgarh Power Transmission Limited, a project SPV, for an aggregate value of about Rs. 12.86 Crore (including 50,000 equity shares at par at Rs. 10 each along with assets and liabilities). The acquisition was made under the Tariff Based Competitive Bidding (TBCB) route for establishing an Inter-State Transmission system for augmentation at Bhadla-III, Ramgarh PS and Kanpur (PG) on a BOOT basis. The target entity was incorporated on 08.05.2026 and has no prior turnover, making this a greenfield project acquisition with no period-over-period financial comparisons available.

• · The project involves augmentation and bay extension works at Bhadla-III S/S (Rajasthan), Ramgarh S/S (Rajasthan) and Kanpur S/S (Uttar Pradesh).
• · The acquisition is not a related party transaction; prior to acquisition, POWERGRID had no interest in the target entity.
• · Approvals for Grant of Transmission License and Adoption of Transmission Charges are to be obtained from Central Electricity Regulatory Commission by Bhadla Ramgarh Power Transmission Limited after the acquisition.
• · The acquisition price is subject to adjustment as per the audited accounts of the company as on the acquisition date.

29-07-2026

Zensar Technologies' board approved the merger of two US-based step-down subsidiaries, Bridgeview Life Sciences LLC and M3BI LLC, into its material wholly owned subsidiary Zensar Technologies Inc., USA. The merger aims to achieve greater business synergies and operational efficiencies, with no change in Zensar's shareholding pattern. The merging entities are relatively small compared to the parent subsidiary, with combined net worth of $9.72 million and combined turnover of $51.54 million, versus Zensar Technologies Inc.'s net worth of $74.66 million and turnover of $326.96 million.

• · Board meeting commenced at 05:00 PM IST and concluded at 08:05 PM IST on July 29, 2026.
• · The merger is between step-down subsidiaries and does not involve any cash consideration or share exchange ratio.
• · The transaction does not fall within related party transactions as per Regulation 23(5)(b) of SEBI Listing Regulations.
• · The merging entities will cease to exist as step-down subsidiaries after the merger.

29-07-2026

JK Cement Limited is investing ₹4,90,87,500 (₹4.91 Cr) in Mehrauni Electro Power Private Limited (MEPPL), subscribing 49,08,750 equity shares at ₹10 each, representing 18.31% post-allotment stake. The investment supports JK Cement's long-term renewable energy strategy by securing solar power supply for its Prayagraj plant through a group captive model. However, MEPPL is a recently incorporated SPV with no turnover and negative net worth of ₹(0.13) Cr as of March 2025, indicating early-stage financials.

• · MEPPL was incorporated in 2023 under CIN U35105DL2023PTC422273.
• · The solar power plant is located at Village-Bihariya, Tehsil-Bara, Prayagraj District, Uttar Pradesh.
• · The investment is made pursuant to a Second Supplementary Shareholders’ Agreement (SSHA).
• · The transaction is not a related party transaction and is at arm's length.
• · No governmental or regulatory approvals are required for the acquisition.

29-07-2026

ADF Foods Limited announced the incorporation of a wholly owned step-down subsidiary in Ireland, named ADF Foods Ireland Limited (or similar), to support its growth plans in Europe. The subsidiary will be held through its existing UK subsidiary, ADF Foods UK Limited, with an initial equity subscription of EUR 20,000 in cash. The filing does not include any financial performance data, so no period-over-period comparisons or negative metrics are available.

• · The subsidiary will be incorporated in Ireland under the name ADF Foods Ireland Limited or a similar name approved by Irish regulatory authorities.
• · The subsidiary will be a wholly owned step-down subsidiary of ADF Foods Limited, held through ADF Foods UK Limited.
• · The industry classification for the subsidiary is Processed Food Industry.
• · The incorporation is subject to necessary approvals and registrations under Irish law.
• · The consideration is cash, with an equity subscription of EUR 20,000.

29-07-2026

Info Edge (India) Limited has approved an investment of about Rs. 10 Crores in its wholly-owned subsidiary Sunrise Mentors Private Limited ('CodingNinjas') to meet the subsidiary's working capital requirements. The investment will be made via cash consideration for 18,725 equity shares at an issue price of Rs. 5,340.23 each. CodingNinjas reported a turnover of Rs. 97.43 Crores for FY2025-26 but recorded a net loss of Rs. 13.36 Crores and negative net worth of Rs. 34.98 Crores as of March 31, 2026.

• · CodingNinjas has negative net worth of Rs. 34.98 Crores as of March 31, 2026.
• · The investment is to meet working capital requirements of the subsidiary.
• · The transaction is classified as a related party transaction but done at arm's length.
• · Completion of the acquisition is expected within 30 days from the approval.
• · The issue price per share is Rs. 5,340.23 including a premium of Rs. 5,330.23.