India Technology Sector Merger & Acquisition Filings — May 12, 2026

12-05-2026

Brand Concepts Limited disclosed an exempt inter-se transfer of 1,6,24,220 equity shares (13.01% of total share capital) from promoter Mr. Pradeep Maheshwari to promoter group member and Managing Director Mr. Prateek Maheshwari via off-market gift under SEBI SAST Regulation 10(1)(a)(i). Mr. Prateek Maheshwari's shareholding increased from 13,76,154 shares (11.03%) to 30,00,374 shares (24.04%), while Mr. Pradeep Maheshwari's decreased from 24,68,853 shares (19.78%) to 8,44,633 shares (6.77%). No consideration was involved as it was a gift.

• · Prior disclosure under Regulation 10(5) filed on May 4, 2026
• · Proposed acquisition date: May 8, 2026
• · Filing date: May 12, 2026
• · Transaction exempt under Regulation 10(1)(a)(i) of SEBI SAST Regulations
• · No consideration involved (gift)

12-05-2026

BSE received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, for Ankit Sangwan & Others pertaining to Apex Capital And Finance Ltd (541133). No details on transaction size, shareholding changes, valuation, or deal structure are provided in the filing. This is an early-stage mandatory disclosure signaling potential substantial acquisition activity.

12-05-2026

The National Company Law Tribunal (NCLT), Kolkata Bench, sanctioned the Composite Scheme of Amalgamation on May 8, 2026, involving the merger of Ashika Commodities & Derivatives Private Limited (ACDPL) into Ashika Global Securities Private Limited (AGSPL), followed by AGSPL into Ashika Credit Capital Limited (ACCL), effective from the Appointed Date of April 1, 2025. Post-merger, ACCL will be renamed Ashika Global Securities Limited. The scheme received no-objection from RBI, observations from BSE, and high shareholder/creditor consents, with no material financial declines noted.

• · Swap ratio: 6,726 equity shares of ACCL (face value ₹10 each) for every 10,000 equity shares of AGSPL; no shares allotted for ACDPL merger as fully owned by AGSPL.
• · 100% shareholder consent for ACDPL and AGSPL; unsecured creditors of ACDPL (100%), AGSPL (97.35%), and ACCL (fully paid off).
• · RBI no-objection letters dated March 17, 2025 (valid till March 17, 2026 extension on September 26, 2025).
• · BSE observations letter dated August 22, 2025.

12-05-2026

Filatex India Limited acquired additional 1,00,00,000 equity shares of face value Rs.1 each at Rs.10 each in its wholly owned subsidiary Ecosis Limited (formerly Texfil Private Limited) for an aggregate Rs. 10.00 crore on May 12, 2026. This investment brings the total investment in the subsidiary to Rs.65 crore, primarily for financing the Polyester Textiles Recycling Project, repayment of existing loan from Filatex, and working capital requirements. The transaction is a related party transaction on arm's length basis with no governmental approvals required.

• · Equity shares face value: Rs.1 each, acquired at Rs.10 each
• · Transaction between company and wholly owned subsidiary; no interest from promoters/promoter group/other group companies

12-05-2026

Axiscades Technologies Ltd (BSE: 532395) filed revised disclosures under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by BSE on May 12, 2026, pertaining to Jupiter Capital Pvt Ltd. No quantitative details such as shareholding percentages, changes in stake, transaction values, or other metrics are disclosed in the filing. This is an informational regulatory update with no explicit positive or negative implications mentioned.

12-05-2026

BSE received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, for Raghav Productivity Enhancers Limited (539837) from the Estate of Late Rakesh Jhunjhunwala. This filing indicates a substantial acquisition or disposal of shares crossing regulatory thresholds, but no details on direction (buy/sell), share count, percentage stake, or transaction value are provided. No other financial or operational metrics are mentioned.

12-05-2026

Nautilus Private Capital Ltd, based in Mauritius, has disclosed under SEBI Regulation 29(1) the acquisition of 302,261 shares (8.6343%) in Lake Shore Realty Ltd (formerly Mahaan Foods Limited), increasing its holding from nil to this stake. The disclosure is dated April 23, 2026, with the filing on May 12, 2026. No prior holdings were reported, marking the entry of Nautilus as a substantial shareholder.

• · Disclosure submitted to BSE India corporate relations.
• · Acquirer address: Ground Floor, The Gardens, Bagatelle Office Park, Bagatelle, Moka, Mauritius.
• · Target company address: Office No.406, 4th Floor, Worldmark 2, Asset No.8, Aerocity Hospitality District, IGI Airport, South West Delhi, New Delhi, Delhi, India, 110037.

12-05-2026

Helium Services LLP, holding 1,62,29,862 shares (9.99%) in Dilip Buildcon Limited, created an encumbrance (pledge) on 22,00,000 shares (1.35%) on May 11, 2026, pursuant to a securities pledge agreement. This reduces their net unencumbered holding to 1,40,29,862 shares (8.64%), while total holding remains unchanged at 9.99%. The disclosure is under Regulation 29(2) of SEBI (SAST) Regulations, 2011, with PACs being Alpha Alternatives Financial Services Private Limited, Quanterra Stratergies LLP, and Spectrum Edge LLP.

• · Disclosure filed with BSE and NSE on May 12, 2026.
• · Acquirer is not part of promoter/promoter group.
• · Mode of transaction: Creation of encumbrance via securities pledge agreement.

12-05-2026

RateGain Travel Technologies Ltd (BSE: 543417) has disclosed receipt of a filing under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Plutus Wealth Management LLP and its PACs. This regulation pertains to disclosures of intent to acquire substantial shares, potentially triggering takeover norms. No specific details on share counts, percentages, deal value, or holding changes were provided in the filing.

12-05-2026

IIFL Capital Services Limited (formerly IIFL Securities Limited) incorporated a wholly owned subsidiary, IIFL Capital (IFSC) Limited, in the International Financial Services Centre (IFSC), GIFT City, Gujarat, India, on May 11, 2026, following a SEBI No Objection Certificate and an earlier intimation on July 28, 2025. The subsidiary has an authorised capital of ₹10 Crore, with 100% initial subscription at face value in cash by the parent company, and will operate as a broker-dealer and distributor under relevant IFSC regulations. No financial performance data is available as it is a newly incorporated entity.

• · Turnover: Not applicable (newly incorporated company)
• · BSE Scrip Code: 542773; NSE Symbol: IIFLCAPS
• · Incorporation approved by Ministry of Corporate Affairs

12-05-2026

Ganesha Recycling Chain Private Limited, a subsidiary of Race Eco Chain Limited, invested Rs. 2,00,00,000 (₹2 Cr) in its subsidiary and Race Eco Chain's step-down subsidiary, GEM Polymers Private Limited, by subscribing 2,00,000 equity shares at face value of ₹10 each, acquiring a 49% stake. This investment aims to expand business in the recycling industry. GEM Polymers, incorporated on 04/01/2024, has nil turnover.

• · GEM Polymers Private Limited incorporated on 04/01/2024 with nil turnover
• · Investment not a related party transaction; no promoter/group interest
• · No governmental or regulatory approvals required

12-05-2026

Ace Software Exports Limited has successfully completed the acquisition of the remaining 2,58,000 equity shares (49.62% stake) in QeLearn Private Limited for ₹8,90,10,000, making it a wholly owned subsidiary financed through Rights Issue proceeds. This move diversifies the Company into the EdTech sector with AI-driven learning solutions, offering synergies and growth potential. However, QeLearn's revenue from operations declined from 197.88 Lakhs in FY2024 to 100.66 Lakhs in FY2025.

• · QeLearn Private Limited incorporated in 2023 (CIN: U85499GJ2023PTC141443), registered office at 704-Solitaire Connect, Makarba, S.G. Highway, Ahmedabad, Gujarat - 380051.
• · Acquisition completed on May 12, 2026; not a related party transaction.
• · References prior Board Meetings on September 26, 2025 and February 13, 2026; financed via Rights Issue (Letter of Offer dated November 14, 2025).

12-05-2026

The Board of Nazara Technologies Limited approved audited consolidated and standalone financial results for the quarter and FY ended March 31, 2026, with an unmodified auditor opinion. However, the results highlight a significant impairment loss of ₹91,470 lakhs on an associate investment due to the Promotion and Regulation of Online Gaming Act, 2025, and GST show cause notices totaling ₹1,164,329 lakhs across one subsidiary and four associate subsidiaries with no adjustments made. Additional actions include new director appointments, leadership re-designations effective June 1, 2026, appointment of internal auditors, and withdrawal of the amalgamation scheme with wholly-owned subsidiary Paper Boat Apps Private Limited.

• · Board meeting held on May 12, 2026, from 5:10 p.m. to 6:15 p.m.
• · Re-designation of Vikash Mittersain effective June 1, 2026, ceasing his role as Key Managerial Personnel and authorized officer for materiality disclosures.
• · Appointment of M/s. MAKK & CO. as Internal Auditors for FY 2026-27.
• · Application for withdrawal of amalgamation scheme to be filed with NCLT Mumbai Bench.

12-05-2026

The Hon'ble NCLT, New Delhi Bench, approved the Scheme of Amalgamation of IAC International Automotive India Private Limited (Transferor Company, formerly Lumax Integrated Ventures Private Limited) with Lumax Auto Technologies Limited (Transferee Company) on May 08, 2026, with an Appointed Date of October 01, 2025; the order was received and disclosed on May 12, 2026. The merger is expected to deliver operational synergies, cost savings, greater financial strength, and reduced regulatory compliances. However, it transfers all assets, liabilities, and pending litigations, including contingent tax liabilities such as Rs. 3.46 Cr (relief allowed), Rs. 2.01 Cr (pending appeals), and Rs. 13.68 lakhs (accepted liability).

• · Scheme becomes effective upon filing certified copy with Registrar of Companies; Transferor Company to dissolve without winding up.
• · All pending legal proceedings, including tax disputes, transfer to Transferee Company.
• · Order available on www.nclt.gov.in and company website www.lumaxworld.in/lumaxautotech.

12-05-2026

Anand Rathi Financial Services Limited (ARFSL), a promoter holding 1,65,34,758 shares (19.92%) in Anand Rathi Wealth Limited, disclosed the release of pledges on 8,30,000 shares (1%) on May 8, 2026 and 8,20,000 shares (0.99%) on May 9, 2026 from Orbis Financial Services Limited (custodian), followed by creation of a new pledge on 8,30,000 shares (1%) with Yes Bank Limited on May 9, 2026 for shifting custodian participant. Previously encumbered shares included 38,63,000 (4.65%) for ARFSL. No net change in total promoter encumbrance levels is indicated from the disclosures.

• · Disclosure reported to exchanges on May 11, 2026 under SEBI Regulation 31(1) and 31(2).
• · ARFSL CIN: U67120MH1996PLC100108.
• · Target ISIN: INE463V01026.
• · Reasons for encumbrance changes: availing margin money and shifting of Custodian Participant.

12-05-2026

Anand Rathi Financial Services Limited (ARFSL), the promoter holding 69.90% (4,38,45,400 shares) in Anand Rathi Share And Stock Brokers Limited, disclosed the release of pledge on 24,00,000 shares (3.83%) on May 8, 2026, followed by creation of a new pledge on the same number of shares to Yes Bank Limited on May 9, 2026, to shift the custodian participant for margin limits. Total promoter holding and encumbrance percentage remained unchanged post-events. This is a regulatory disclosure under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

• · ISIN of target company: INE549H01021
• · Disclosure filed with NSE and BSE on May 11, 2026
• · Pledges related to margin limits availed by ARFSL

12-05-2026

Gemstone Investments Ltd. (BSE:531137), a technology sector company, has made a disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by BSE on May 12, 2026, pertaining to Dipali Jigar Shah & Others. This indicates a prior intimation of intention to acquire shares or voting rights that may cross substantial acquisition thresholds. No further details on deal structure, size, valuation, or impact were provided in the filing.

12-05-2026

Dreamfolks Services Limited has completed the first phase of its proposed acquisition of ETT Solutions DMCC through secondary purchase of shares, achieving a 34% shareholding registered with the Dubai Multi Commodities Centre Authority. The subsequent primary subscription phase is under process but may extend beyond the initial indicative timeline of 120 business days due to remaining procedural and regulatory formalities. The company reaffirms its commitment to completing the transaction and providing updates on material developments.

• · Previous disclosures on the acquisition: December 01, 2025 and April 23, 2026
• · Initial estimated timeline for overall transaction: 120 business days