India Sector Consolidation Regulatory Filings — August 14, 2026

14-08-2026

Greaves Cotton Limited has completed the final tranche of its multi-year acquisition of Excel Controlinkage Private Limited, acquiring the remaining 20% stake via secondary purchase effective August 13, 2026, making Excel a wholly owned subsidiary. The total enterprise value for the initial 60% stake was capped at ₹3,850 million, with subsequent tranches at a pre-agreed valuation matrix. Excel, a leading motion control systems manufacturer, reported revenue growth from ₹105 Cr (FY2020) to ₹167 Cr (FY2022), though the filing does not provide financials for the intervening years or the current period.

• · The acquisition was executed under a definitive agreement dated April 6, 2023, with the final tranche completed by August 2026 as originally planned.
• · Excel Controlinkage was incorporated on April 20, 1994, and is described as the margin leader in the motion control systems industry.
• · The company serves OEMs and aftermarket across Commercial Vehicles, Construction Equipment, Agriculture, Material Handling, Marine, and SPVs.
• · No governmental or regulatory approvals were required for the acquisition.
• · The consideration was entirely cash; no share swap was involved.
• · The shares were credited to Greaves Cotton's demat account on August 13, 2026, with confirmation received on August 14, 2026.

14-08-2026

Info Edge (India) Limited has approved two investments: a ₹8.90 Crore first tranche investment in Udyogtech Ventures Private Limited (Factrika) for an 18.58% stake, with a potential second tranche to reach ~26% by March 31, 2027, and a ₹90 Crore investment in its wholly owned subsidiary Startup Investments (Holding) Limited (SIHL). Factrika is an early-stage on-demand industrial workforce platform with unaudited FY26 turnover of ₹3.69 Crore and a net loss of ₹2.09 Crore, while SIHL has no revenue and a net loss of ₹0.02 Crore. The investments are strategic but carry execution risk given Factrika's negative profitability and SIHL's zero revenue base.

• · Factrika was incorporated on July 2, 2024, and had no turnover in FY24; its FY25 audited turnover was ₹0.03 Crore.
• · SIHL has reported nil turnover for the last three fiscal years (FY24, FY25, FY26).
• · The second tranche in Factrika is conditional on performance milestones and is expected by March 31, 2027.
• · Info Edge's total investment commitment across both tranches is not fixed; the second tranche consideration will be determined later.
• · Post first tranche, Factrika will become a related party of Info Edge.

14-08-2026

Zensar Technologies has completed all requisite filings for the merger of its US-based step-down subsidiaries Bridgeview Life Sciences LLC and M3BI LLC with its material wholly-owned subsidiary Zensar Technologies Inc., USA. The M3BI LLC merger becomes effective September 1, 2026, following filings completed on August 13, 2026. This consolidation is part of Zensar's ongoing corporate restructuring, with post-merger filings still in process.

• · Merger of M3BI LLC with Zensar Technologies Inc. effective from September 1, 2026.
• · Filings for M3BI LLC merger completed on August 13, 2026.
• · Intimation received at 1:43 a.m. (IST) on August 14, 2026.
• · All requisite filings for both Bridgeview Life Sciences LLC and M3BI LLC mergers are now complete.
• · Certain post-merger and consequential filings remain under process.

14-08-2026

Rainbow Children's Medicare Limited has completed the acquisition of a 64% partnership interest in Super Prime Medical Care LLP on August 14, 2026, following the execution of a Partnership Interest and Contribution Transfer Agreement on July 29, 2026. The filing provides no financial details or performance metrics, so no positive or negative trends can be assessed.

• · The acquisition was completed on August 14, 2026, the same date as the filing.
• · The acquisition was made from the existing partners of Super Prime Medical Care LLP.

14-08-2026

20 Microns Limited has acquired a 99.99% partnership interest in M/s Shree Shrest Minerals, a Rajasthan-based partnership firm holding mining rights for Quartz and Feldspar, for a cash consideration of ₹1,50,00,000 (₹1.5 Crore). The acquisition is intended to strengthen the company's captive sourcing of industrial minerals and expand its mining operations. However, the target firm has been loss-making for the past two financial years, with a net loss of ₹3,01,205 in FY2025 and a declining turnover trend.

• · The target firm was registered on December 18, 2008, under the Indian Partnership Act, 1932.
• · The mining lease is located near Village Khakharmala, Tehsil Raipur, District Bhilwara, Rajasthan.
• · The acquisition is not a related party transaction; the transferors are not part of the promoter group.
• · Approval from the Registrar of Firms, Rajasthan, has been received for the reconstitution of the firm.
• · The acquisition is expected to be completed shortly, subject to customary closing formalities.

14-08-2026

NHPC Limited has published newspaper advertisements regarding the hearing date for the scheme of amalgamation of its wholly owned subsidiary, Jalpower Corporation Limited (JPCL), with itself. The hearing before the Ministry of Corporate Affairs (MCA) is scheduled for August 25, 2026. This is a procedural step in the merger process, which involves a wholly owned subsidiary and is not expected to have a material financial impact on NHPC.

• · The hearing is fixed for Tuesday, 25th August 2026 at 11:30 AM at the Ministry of Corporate Affairs, New Delhi.
• · Objections or support to the petition must be submitted to NHPC at least five days before the hearing.
• · The amalgamation is between NHPC and its wholly owned subsidiary, Jalpower Corporation Limited.
• · The newspaper clippings were published on August 14, 2026, in Business Standard, Financial Express, Jansatta, and Vaartha.

14-08-2026

Spandana Sphoorty Financial Limited's Board approved the amalgamation of its wholly owned subsidiary, Criss Financial Limited (CFL), into itself via a scheme of arrangement, aiming to reduce duplicity of costs, achieve revenue and cost synergies, and simplify the group structure. The Board also noted the resignation of nominee director Neeraj Swaroop (representing Kedaara Capital) and immediately appointed him as an Independent Director for a three-year term. The amalgamation is subject to NCLT, shareholder, creditor, and regulatory approvals, including from the RBI.

• · The amalgamation involves no cash consideration or share exchange ratio as CFL is a wholly owned subsidiary; all shares held by SSFL in CFL will be cancelled.
• · The pre- and post-amalgamation shareholding pattern of SSFL will remain unchanged.
• · Mr. Neeraj Swaroop's appointment as Independent Director is for a term of three consecutive years from August 14, 2026 to August 13, 2029, subject to shareholders' approval.
• · Mr. Swaroop has over 40 years of experience in FMCG and financial services, and holds degrees from IIT Delhi, IIM Ahmedabad, and the University of Virginia.
• · The Board meeting lasted from 3:10 PM to 3:40 PM on August 14, 2026.

14-08-2026

Sandur Manganese & Iron Ores Limited incorporated a wholly owned subsidiary, Royal Sandur Academy Private Limited, on August 14, 2026, to pursue academy-related businesses including coaching, sports, skill development, and educational infrastructure. The subsidiary was established with a subscription of 10,00,000 equity shares at ₹10 each, totaling ₹1,00,00,000, and is fully owned by the parent company. No financial performance data is available for this new entity, and no negative or flat metrics are present in the filing.

• · The subsidiary is incorporated in India and is a wholly owned subsidiary of Sandur Manganese & Iron Ores Limited.
• · The business of the subsidiary includes academy, coaching centers, sports academies, skill development, vocational training, educational infrastructure, digital learning platforms, residential facilities, and consultancy.
• · Approval for incorporation was received from the Ministry of Corporate Affairs, Government of India.
• · Consideration for the subsidiary is cash subscription of equity shares.
• · The subsidiary holds 100% shareholding by the parent company.

14-08-2026

Agribio Spirits Limited disclosed that the NCLT Jaipur Bench has ordered convening of meetings of equity shareholders, secured creditors, and unsecured creditors of both Agribiotech Industries Limited (Transferor) and Agribio Spirits Limited (Transferee) to consider the proposed Scheme of Amalgamation. The order marks a procedural step toward the merger, with further meeting details to be announced separately.

• · The NCLT order is dated August 13, 2026.
• · Meetings will be held for equity shareholders, secured creditors, and unsecured creditors of both companies.
• · Agribio Spirits Limited was formerly known as Beekay Niryat Limited.

14-08-2026

The Indian Card Clothing Company Limited approved its unaudited standalone and consolidated financial results for Q1 FY27 (quarter ended June 30, 2026). Standalone revenue from operations declined 5.4% YoY to ₹853.64 Lakh, while total income rose 14.9% YoY to ₹1,858.75 Lakh, driven by a 40.5% surge in other income. The company also approved a further investment of up to £250,000 in its wholly-owned subsidiary Garnett Wire Ltd., UK, to expand its international business. Additionally, CFO Sanjeevkumar Karkamkar resigned effective September 1, 2026, citing advancing age, but will continue as a Non-Executive Director.

• · Standalone total expenses for Q1 FY27 were ₹1,261.64 Lakh, down from ₹1,266.96 Lakh in Q1 FY26.
• · Garnett Wire Ltd. turnover history: FY2025-26 £826,760; FY2024-25 £781,435; FY2023-24 £738,701.
• · The investment in Garnett Wire Ltd. is a related party transaction as Mr. Mehul K. Trivedi, Deputy Chairman, is also a director of Garnett Wire Ltd.
• · The acquisition is expected to be completed within approximately 60 working days, subject to customary conditions.
• · The CFO resignation is effective September 1, 2026; he will continue as Non-Executive Non-Independent Director.

14-08-2026

Aster DM Healthcare Limited (now Aster DM Quality Care Limited) has received trading approval from NSE and BSE for 35,35,51,410 equity shares of ₹10 each allotted to eligible shareholders of Quality Care India Limited under a Scheme of Amalgamation. The shares will be listed and available for trading from August 17, 2026. This marks a key milestone in the merger between Aster DM and Quality Care India (operator of CARE Hospitals and Evercare brands).

• · The equity shares have distinctive numbers ranging from 523835315 to 877386724.
• · The record date for allotment was July 9, 2026.
• · The company's name has been changed to Aster DM Quality Care Limited.
• · The trading approval was granted on August 14, 2026, with trading commencing August 17, 2026.

14-08-2026

The National Company Law Tribunal (NCLT), Mumbai Bench, has approved the Scheme of Merger by Absorption of GB Global Limited (Transferor Company) into Dev Land and Housing Private Limited (Transferee Company). The appointed date for the merger is April 1, 2024. Under the scheme, eligible shareholders of GB Global (other than the transferee company) will receive a cash payment of ₹120 per equity share (face value ₹10) and 1 redeemable preference share (face value ₹10, 0.01% dividend, 10-year tenure) for each equity share held, based on a registered valuer's valuation of ₹78.94 per share. The merger aims to reduce compliance costs, streamline operations, and provide an exit to shareholders, while the equity shares of GB Global, which have been suspended from trading since June 3, 2021, will be deemed delisted.

• · GB Global's equity shares have been suspended from trading on BSE and NSE since June 3, 2021.
• · The Transferor Company (GB Global) is a subsidiary of the Transferee Company (Dev Land and Housing Private Limited); hence no consideration is payable for shares held by the transferee company, and those shares will be cancelled.
• · The redeemable preference shares (RPS) have a tenure of ten years from allotment and are redeemable at face value.
• · The NCLT order was pronounced on August 12, 2026, and the company received a copy on August 14, 2026.
• · The Board of Directors of both companies approved and amended the scheme multiple times between February and August 2025.
• · The scheme is intended to revive the Transferor Company, which faces procedural and technical difficulties in implementing its resolution plan with stock exchanges.
• · No consideration is payable to the Transferee Company for its own holdings in the Transferor Company.

14-08-2026

Orchid Pharma Limited's Board approved revised audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, reflecting the amalgamation of Dhanuka Laboratories Limited (effective July 10, 2026, with appointed date April 1, 2024). On a standalone basis, the company reported a Q4 FY26 profit of ₹3,266.29 Lakh, a significant improvement from a loss of ₹254.55 Lakh in Q3 FY26, but a decline from ₹3,959.66 Lakh in Q4 FY25. For the full year FY26, standalone profit fell sharply to ₹3,462.00 Lakh from ₹14,189.71 Lakh in FY25, a 75.6% decline. Consolidated results show a similar trend: Q4 FY26 profit of ₹2,583.94 Lakh versus a loss of ₹928.97 Lakh in Q3 FY26, but down from ₹3,404.25 Lakh in Q4 FY25; full-year consolidated profit dropped to ₹995.91 Lakh from ₹13,507.05 Lakh in FY25, a 92.6% decline.

• · The amalgamation of Dhanuka Laboratories Limited into Orchid Pharma was sanctioned by NCLT Chennai and became effective July 10, 2026, with appointed date April 1, 2024.
• · Statutory auditors (Singhi & Co.) issued an unmodified opinion on revised standalone results but a modified opinion on revised consolidated results.
• · Standalone other equity increased to ₹1,58,679.07 Lakh as at March 31, 2026 from ₹1,55,085.30 Lakh as at March 31, 2025.
• · Consolidated total assets grew to ₹2,25,842.77 Lakh as at March 31, 2026 from ₹2,07,736.55 Lakh as at March 31, 2025.
• · Consolidated borrowings (non-current) increased to ₹18,473.70 Lakh as at March 31, 2026 from nil as at March 31, 2025.
• · Standalone cash and cash equivalents dropped sharply to ₹130.46 Lakh as at March 31, 2026 from ₹1,594.17 Lakh as at March 31, 2025.
• · Exceptional items of ₹22.02 Lakh (standalone) and ₹733.29 Lakh (consolidated) were recorded in FY26, compared to nil in FY25.

14-08-2026

Jupiter Infomedia Limited (now Arix Energix Limited) announced its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, and approved a draft Scheme of Arrangement to proportionately distribute shares of its wholly owned subsidiary Jineshvar Securities Private Limited to its shareholders. The Board also approved the incorporation of a wholly owned subsidiary in the UAE, Arix Metals Trading FZCO, with a paid-up capital of AED 1,00,000. The financial results show the subsidiary Jineshvar Securities Private Limited contributed total revenues of Rs. 24.72 lakh and net profit of Rs. 16.68 lakh for the quarter.

• · The company's name changed from Jupiter Infomedia Limited to Arix Energix Limited effective July 17, 2026, pursuant to a special resolution passed on June 24, 2026.
• · The Scheme of Arrangement will result in Jineshvar Securities Private Limited ceasing to be a wholly owned subsidiary of Jupiter Infomedia Limited.
• · The proposed UAE subsidiary will be engaged in Metal Scrap Trading and is expected to be incorporated within 15 to 30 days.
• · The Board meeting commenced at 05:15 PM IST and concluded at 06:00 PM IST on August 14, 2026.

14-08-2026

Physicswallah Limited (PWL) has approved the acquisition of the remaining 10% stake in Bharat Innovations Global Private Limited (BIGPL) from NSDC International Limited, increasing its shareholding from 90% to 100% and making BIGPL a wholly owned subsidiary. The acquisition involves no cash consideration and is expected to close within six months. BIGPL, an education company incorporated in November 2024, has minimal turnover (₹0.16 Cr in FY 2025-26) and a negative net worth of ₹(66,90,740).

• · BIGPL was incorporated on November 26, 2024.
• · BIGPL's turnover for FY 2024-25 was ₹0.00 and for FY 2023-24 was not applicable.
• · The acquisition is not a related party transaction.
• · No governmental or regulatory approvals are required for the acquisition.
• · The Board meeting commenced at 02:30 PM IST and concluded at 04:50 PM IST on August 14, 2026.

14-08-2026

Race Eco Chain Limited has invested INR 1,02,00,000 (Rupees One Crore Two Lakh) in its subsidiary Ganesha Recycling Chain Private Limited via a rights issue subscription, receiving 1,02,000 equity shares. The investment maintains Race Eco Chain's existing 51% ownership stake in the subsidiary. Ganesha Recycling Chain, incorporated on September 10, 2024, reported a turnover of 0.01 Lakh in 2025 and 21.19 Lakh in 2026, showing significant growth from a very low base.

• · The transaction is classified as a related party transaction as Ganesha Recycling Chain is a subsidiary, but it was conducted at arm's length basis.
• · No promoter/promoter group/group companies have any interest in the entity.
• · The investment is part of the company's overall corporate objective to expand its recycling business.
• · No governmental or regulatory approvals were required for the acquisition.
• · Ganesha Recycling Chain Private Limited was incorporated on September 10, 2024, and is engaged in the recycling business in India.

14-08-2026

Gufic Biosciences Limited's Board approved the incorporation of a wholly-owned subsidiary in the Philippines, Gufic Philippines Inc., with an investment of up to USD 250,000 (approx. ₹2.08 Cr) via cash subscription to equity shares. The subsidiary will handle marketing, distribution, and IP management of the company's pharmaceutical products, expanding Gufic's presence in the Philippines. The incorporation is subject to regulatory approvals in both India and the Philippines and is expected to be completed within 12 months.

• · Board meeting held on August 14, 2026, from 5:00 p.m. to 6:10 p.m.
• · Subsidiary to be incorporated within 12 months, subject to statutory and regulatory formalities.
• · Balance equity (approx. 0.01%) will be held by directors of the proposed subsidiary as per Philippine law.
• · Investment will be in cash, up to USD 250,000 or equivalent in Philippine Peso.

14-08-2026

Parmax Pharma Limited has undergone a significant change in control as Acquirers and Persons Acting in Concert (PACs) acquired 11,52,450 equity shares (30.81% of total equity) on August 13, 2026, pursuant to a Share Purchase Agreement dated June 8, 2026. The acquisition increased the combined shareholding of the acquirer group from 27.20% to 58.01%, giving them majority control. The purchase price was ₹35.00 per share, and the shares are yet to be credited to demat accounts.

• · The acquisition was executed off-market via a Share Purchase Agreement dated June 8, 2026.
• · The sellers were Alkesh Mahasukhlal Gopani, Vipul Mahasukhlal Gopani, and Pravina Mahasukh Gopani.
• · The shares acquired are yet to be credited to the respective demat accounts of the acquirers and PACs.
• · The disclosure was made under Regulation 18(6) of SEBI (SAST) Regulations, 2011, which requires reporting of acquisitions during the offer period.
• · The public announcement was made on June 8, 2026, with detailed public statement on June 15, 2026, and Letter of Offer on July 21, 2026.

14-08-2026

Adani Energy Solutions Limited (AESL) has executed a Share Purchase Agreement (SPA) on August 14, 2026, to acquire 100% equity shares of Vizag Power Transmission Limited (VPTL) from REC Power Development and Consultancy Limited (RECPDCL) for cash consideration at a face value of Rs. 10 per share. The acquisition is linked to AESL's previously announced ~Rs 8,500 crore transmission project in Andhra Pradesh and is intended to support power supply to proposed Green Hydrogen/Green Ammonia projects in the Vizag area, catering to an estimated demand of around 4,500 MW. VPTL, incorporated on February 16, 2026, has an authorized and paid-up share capital of Rs. 5 Lakh each, with no turnover history.

• · The acquisition is not a related party transaction.
• · The target entity, VPTL, is in the Electric Utilities (Transmission Service Provider) industry.
• · No governmental or regulatory approvals are required for the acquisition.
• · The acquisition has been completed as of the filing date.