India Sector Consolidation Regulatory Filings — August 24, 2026

24-08-2026

LEAP India Ltd has informed exchanges that its subsidiary, LEAP MENA Holdings Limited, incorporated a wholly owned step-down subsidiary named LEAP Pallet Pooling Trading L.L.C in Dubai, UAE, effective August 21, 2026. The new entity will provide asset pooling and general trading services to clients in the UAE, with LEAP MENA subscribing to its entire share capital of AED 2,000,000 in cash. As a newly incorporated company, it has no turnover or size to report, and the transaction is classified as a related party transaction done at arm's length.

• · The step-down subsidiary was incorporated on August 21, 2026, in Dubai, UAE.
• · The Commercial License is issued by the Dubai Department of Economy and Tourism.
• · The investment by LEAP MENA is a related party transaction done at arm's length.
• · Promoters / Promoter Group / Group Companies have no interest in the transaction beyond the subsidiary relationship.

24-08-2026

Almondz Global Securities Ltd. (AGSL) announced a Board-approved scheme to demerge its Infrastructure Advisory Business into a wholly-owned subsidiary, Almondz Global Infra – Consultant Ltd. (AGICL), which will subsequently seek its own stock exchange listing. The demerged division contributed a turnover of INR 292.01 Lakhs, representing only 4.58% of AGSL's total standalone turnover for FY 2025-26. The scheme, which includes a share exchange ratio of 666 AGICL shares for every 10,000 AGSL shares, is subject to shareholder, creditor, and regulatory approvals including the NCLT.

• · The Board meeting commenced at 14:00 IST and concluded at 16:15 IST on August 24, 2026.
• · The scheme requires approval from a majority of public shareholders as per SEBI Master Circular.
• · AGSL has 80,00,000 outstanding convertible warrants (INR 16.58 each) that will be exchanged for AGICL warrants at a ratio of 666 AGICL warrants for every 10,000 AGSL warrants, at an issue price of INR 57.17 per warrant.
• · Post-scheme, AGICL's promoter group holding will drop from 100% to 68.49%, with public shareholders holding 31.51%.
• · The Annual General Meeting (AGM) for FY 2025-26 is fixed for September 30, 2026.

24-08-2026

Dabur India Limited has informed stock exchanges that the Hon'ble NCLT New Delhi Bench has reserved its order for formal pronouncement on the proposed Scheme of Amalgamation between Sesa Care Private Limited (Transferor Company) and Dabur India Limited (Transferee Company). Statutory authorities have recorded no-objection to the sanctioning of the Scheme. The company will notify exchanges upon receipt of the NCLT order copy.

• · The order was reserved for pronouncement on August 24, 2026, by the Hon'ble NCLT New Delhi Bench.
• · The Scheme is under Sections 230 to 232 of the Companies Act, 2013.
• · Prior intimations date back to May 2025 through August 2026.
• · The company will provide further updates upon receipt of the NCLT order copy.

24-08-2026

Tata Consultancy Services (TCS) announced a strategic partnership with Porsche AG, including a five-year deal worth €1.25 billion and the acquisition of 100% of MHP Management- und IT-Beratung GmbH for an enterprise value of €320 million. The acquisition will strengthen TCS' presence in the German automotive and industrial consulting market. However, MHP's turnover has declined from €830 million in CY24 to €742 million in CY25, a decrease of approximately 10.6%.

• · The acquisition is expected to be completed within 3-4 months, subject to regulatory approvals from the European Commission, EU Foreign Subsidies Regulation, and Romanian FDI authorities.
• · MHP has presence in Germany, Romania, UK, USA, India, and Mexico through its subsidiaries.
• · TCS generated consolidated revenues of over US $30 billion in the fiscal year ended March 31, 2026.
• · MHP was incorporated on May 13, 1996, and is a fully owned subsidiary of Porsche AG.

24-08-2026

Blue Cloud Softech Solutions Limited's Board granted in-principle approval to evaluate and negotiate the acquisition of 100% of CareTech AI Inc. (US) via a share swap through preferential allotment. CareTech AI reported management-indicated consolidated revenue of approximately US$80.2 million for CY2025 and an estimated ~US$116 million for CY2026. The transaction is subject to due diligence, valuation, definitive agreements, and regulatory approvals; no binding agreement has been executed yet.

• · The proposed acquisition is for up to 100% equity of CareTech AI Inc. and its wholly owned subsidiaries CareCareer Tech LLC and Envision NJ LLC.
• · Consideration will be discharged via a share swap through preferential allotment under Chapter V of SEBI (ICDR) Regulations, 2018.
• · No letter of intent, term sheet, or binding agreement has been executed; the transaction is at an exploratory stage.
• · The transaction is not a related party transaction; no promoters, directors, or KMP hold any interest in the Target Group.
• · Blue Cloud's Q1 FY27 revenue grew approximately 42% YoY with EBITDA margin expanding to about 20%.
• · CareTech AI operates across 30+ clinician categories and has a statewide relationship with the California Department of Corrections and Rehabilitation covering 31 institutions.
• · Integration priorities include deploying BluHealth through CareTech AI's existing contracts within 0-6 months, rolling out screening across top accounts in months 6-12, and launching Remote Healthcare and AI-Diagnostic offerings in months 12-24.

24-08-2026

Pavna Industries Limited's board approved the acquisition of a 52.38% stake (11,000 equity shares) in Pavna Electric Systems Private Limited for a fair value of ₹154.50 per share, making it a subsidiary. Simultaneously, the board approved the disinvestment of its entire 50.74% stake in Pavna Auto Engineering Private Limited (30,901 shares) for up to ₹8.80 Crore and its entire 50.74% stake in Swapnil Switches Private Limited (3,09,001 shares) for up to ₹2.55 Crore, both to promoter-group buyers. While the acquisition aims to leverage synergies in the automobile industry, the divestitures are intended to unlock shareholder value and redeploy capital into core and higher-growth opportunities.

• · The 32nd Annual General Meeting is scheduled for September 21, 2026 at 9:00 AM.
• · Remote e-voting period: September 18, 2026 (09:00 AM) to September 20, 2026 (05:00 PM); record date is September 14, 2026.
• · The acquisition of Pavna Electric Systems is a related party transaction; the promoter is interested.
• · The divestitures of Pavna Auto Engineering and Swapnil Switches are also related party transactions, done at arm's length.
• · Pavna Auto Engineering contributed 5.40% of the company's turnover and 9.07% of net worth in the last financial year.
• · Swapnil Switches contributed 0.87% of turnover and 2.48% of net worth.
• · All transactions are expected to be completed within 120 days from shareholder approval.

24-08-2026

Syngene International Limited has entered into a Share Subscription and Shareholders Agreement with Ampin C&I Power Twelve Private Limited to acquire a 12.44% equity stake (on an undiluted basis) for a cash consideration of INR 2,52,00,000 (₹2.52 Cr). The investment supports Syngene's renewable energy objectives and is expected to reduce its energy costs and carbon footprint. However, the target entity, AMPIN, is a newly incorporated company (April 2025) with nil turnover for FY 2025-26 and a negligible profit after tax of ₹0.31 lakh, indicating no current revenue generation.

• · AMPIN was incorporated on 23rd April 2025 and has nil turnover for FY 2025-26.
• · The acquisition is not a related party transaction and no promoter/group company has interest in AMPIN.
• · The equity shares are expected to be allotted in one or more tranches within 30 days or as mutually agreed.
• · The acquisition is structured to maintain captive status under the Electricity Act.

24-08-2026

Emkay Global Financial Services Limited has incorporated a new wholly owned subsidiary, Emkay Capital Private Limited, in Mumbai, Maharashtra on August 24, 2026. The subsidiary, an investment company with an authorized share capital of ₹25,00,000 and paid-up capital of ₹10,00,000, was established to house the group's investments and enhance operational focus. The company subscribed to 1,00,000 equity shares at ₹10 per share for a total cash consideration of ₹10,00,000.

• · The incorporation was previously announced on July 27, 2026.
• · The initial subscription does not fall within the purview of Related Party Transaction, but consequent to incorporation, ECPL becomes a Related Party.
• · The promoter/promoter group/group companies do not have any interest in ECPL except as a subsidiary.
• · The subsidiary is yet to commence business operations and has no turnover history.
• · No governmental or regulatory approvals were required for the incorporation.

24-08-2026

HEG Limited's Board of Directors has taken on record the NCLT Indore Bench order sanctioning the Composite Scheme of Arrangement among HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited, and approved the Scheme's effective date as September 1, 2026. The Scheme involves the demerger of HEG's graphite business into HEG Graphite Limited (with a 1:1 share exchange for HEG shareholders) and the amalgamation of Bhilwara Energy Limited into HEG (with an 8:7 share exchange for Bhilwara Energy shareholders). Consequently, the Board approved a major leadership restructuring, including the cessation of Chairman & MD Ravi Jhunjhunwala (who moves to HEG Graphite) and the elevation of Riju Jhunjhunwala to Chairman, MD & CEO of HEG, along with the appointment of new CFO and Company Secretary, and the resignation of several independent directors to facilitate board reconstitution.

• · The Scheme was sanctioned by NCLT Indore Bench on August 13, 2026; certified copy received on August 21, 2026.
• · Record date for HEG shareholders to receive HEG Graphite shares is September 7, 2026.
• · Post-Scheme, HEG Limited is proposed to be renamed 'HEG Advanced Materials Limited', and HEG Graphite Limited is proposed to be renamed 'HEG Limited'.
• · The Board reconstituted several committees effective September 1, 2026: Audit Committee (Chairman: Rajiv Dewan), Nomination and Remuneration Committee (Chairman: Pushp Jain), Stakeholders Relationship Committee (Chairman: Om Prakash Ajmera), Risk Management Committee (Chairman: Riju Jhunjhunwala), and CSR & ESG Committee (Chairman: Ravi Jhunjhunwala).
• · New KMPs authorized for determining materiality of events: Riju Jhunjhunwala (Chairman, MD & CEO), Ravi Gupta (Company Secretary & Compliance Officer), and Neha Rajvanshi (CFO).
• · The Board meeting commenced at 1:30 PM IST and concluded at 4:00 PM IST.

24-08-2026

Karronn Naresh Bajaj has launched a mandatory open offer to acquire up to 22,88,000 equity shares (26% of voting capital) of Mitshi India Limited at ₹15 per share, with a total consideration of ₹3,43,20,000. The offer opens on September 3, 2026 and closes on September 17, 2026, and is not conditional on any minimum acceptance level. The offer is being made under SEBI (SAST) Regulations, with Srujan Alpha Capital Advisors LLP as the manager and Adroit Corporate Services as the registrar.

• · The offer is mandatory under Regulation 4 of SEBI (SAST) Regulations, triggered by an underlying transaction (Share Purchase Agreement).
• · The offer is not conditional upon any minimum level of acceptance.
• · There is no competing offer as of the date of the Letter of Offer.
• · No statutory approvals are currently required for the offer, but if any become applicable, the Acquirer may withdraw the offer under Regulation 23.
• · In case of delay in payment to shareholders, the Acquirer is liable to pay interest at 10% per annum.
• · The Identified Date for determining shareholders to whom the Letter of Offer is sent is September 1, 2026 (as per the tentative schedule).
• · The marketable lot of the Target Company is 1 share.

24-08-2026

Inox Green Energy Services Limited (IGESL) announced that the Committee of the Board of Directors of Inox Renewable Solutions Limited (IRSL) has allotted 4,89,82,030 fully paid-up equity shares of ₹10 each to eligible shareholders of IGESL as of the Record Date (1st August 2026), pursuant to the sanctioned Scheme of Arrangement between IGESL and IRSL. This milestone completes the share distribution phase of the demerger, with IRSL now taking steps to credit shares to demat accounts and obtain listing/trading approvals from the stock exchanges. The allotment follows the NCLT order dated 13th March 2026 and is in line with the share exchange ratio specified in the Scheme.

• · Record Date for entitlement was 1st August 2026, as intimated on 22nd July 2026.
• · The Scheme was sanctioned by the Hon’ble NCLT, Ahmedabad Bench vide its order dated 13th March 2026.
• · The share exchange ratio is specified in Clause 7 of the Scheme.
• · IRSL is yet to obtain listing and trading approvals from stock exchanges for the allotted shares.

24-08-2026

The Indian Hotels Company Limited (IHCL) announced a merger with its associate Oriental Hotels Limited (OHL) via a Scheme of Arrangement, with a share exchange ratio of 25 IHCL shares for every 117 OHL shares. The all-stock transaction, targeted for completion in H2 FY2028 (appointed date April 1, 2027), aims to simplify the group holding structure, unlock the full potential of OHL's portfolio (including iconic assets like Taj Coromandel, Chennai), and drive long-term value creation. The merger is subject to statutory approvals and is expected to create two new operating subsidiaries, streamlining governance and operational efficiency.

• · OHL's portfolio includes 7 hotels with 825 rooms, comprising freehold assets (Taj Coromandel, Taj Fisherman's Cove, Gateway Coonoor) and long-term leasehold assets (Taj Malabar, Vivanta Coimbatore, Vivanta Mangalore, Gateway Madurai).
• · OHL also holds strategic investments in several IHCL group hotel companies in India and internationally.
• · IHCL has delivered 17 consecutive quarters of record performance, with fourfold portfolio growth, sustained double-digit revenue and profitability growth, and strong return on capital employed.
• · Transaction advisors: For IHCL – PwC (Registered Valuer), Kotak Mahindra Capital (Fairness Opinion), Cyril Amarchand Mangaldas (legal counsel). For OHL – SSPA & Co. (Registered Valuer), Motilal Oswal Investment Advisors (Fairness Opinion), Kochhar & Co. (legal counsel).
• · IHCL's total portfolio stands at 650 hotels (including 268 in pipeline) across 4 continents, 15 countries, and over 300 locations.

24-08-2026

Oriental Hotels Limited (OHL) has approved a Scheme of Arrangement for its amalgamation into The Indian Hotels Company Limited (IHCL), its promoter. The merger aims to create synergies, simplify the management structure, and provide OHL shareholders with direct participation in IHCL's consolidated hospitality business. The transaction is subject to NCLT, shareholder, and regulatory approvals.

• · The share exchange ratio is 25 equity shares of IHCL (face value ₹1 each) for every 117 equity shares of OHL (face value ₹1 each).
• · IHCL's existing shareholding in OHL (37.05%) will be cancelled and extinguished post-scheme.
• · The valuation was jointly done by SSPA & Co. and PwC Business Consulting Services LLP, with a fairness opinion from Motilal Oswal Investment Advisors Limited.
• · The scheme is expected to reduce the number of operating entities under IHCL, leading to simpler management and cost rationalization.