India Technology Sector Merger & Acquisition Filings — May 20, 2026

20-05-2026

Ramgopal Polytex Ltd reported a net loss of ₹99.11 Lakhs for FY2026, widening sharply from a loss of ₹18.52 Lakhs in FY2025, driven by a 26% decline in revenue from operations to ₹109.36 Lakhs and a provision for GST credits of ₹77.16 Lakhs. The Board approved the sale of its 1,90,000 equity shares in Ramgopal Synthetics Limited for a lump sum consideration of ₹1,34,90,000 (₹134.90 Lakhs) to Mrs. Minal Nipoon Agarwal jointly with Mr. Nipoon G. Agarwal, and appointed Mr. Ravi Seth as Internal Auditor for FY2026-27.

• · The Board meeting commenced at 1:00 PM and concluded by 2:15 PM on May 20, 2026.
• · The statutory auditors issued an unmodified (clean) opinion on the annual audited standalone financial results for FY2026.
• · The sale of 1,90,000 shares in Ramgopal Synthetics Ltd is expected to be completed by May 31, 2026.
• · The sale price per share is ₹71, based on a valuation report.
• · The buyer is not related to the promoter/promoter group of Ramgopal Polytex Ltd.
• · The company's other equity (accumulated losses) worsened from (₹319.78 Lakhs) to (₹391.91 Lakhs) as of March 31, 2026.
• · Total liabilities increased from ₹55.00 Lakhs to ₹62.41 Lakhs year-on-year.
• · Cash flow from operations was negative at (₹60.28 Lakhs) for FY2026, compared to (₹35.61 Lakhs) in FY2025.
• · The company had no separate reportable segments as per IND AS 108.

20-05-2026

Shoppers Stop Limited has invested ₹20 Crore in the first tranche of a Rights Issue of 2000 0.01% Non-Cumulative Optionally Convertible Preference Shares (NOCPS) of its wholly owned material subsidiary, Global SS Beauty Brands Limited (GSSBBL), on May 20, 2026. This is part of a previously approved total investment of up to ₹40 Crore. GSSBBL, which operates beauty product retail and wholesale, has shown strong revenue growth from ₹95.73 Crore in FY 2023-24 to ₹379.75 Crore in FY 2025-26, but the investment is being made to fund expansion and working capital needs, indicating ongoing cash requirements.

• · The investment is a related party transaction as promoter/promoter group holds 66.06% equity of Shoppers Stop, but no separate Audit Committee approval is required since GSSBBL is a wholly owned subsidiary.
• · GSSBBL was incorporated on December 08, 1995, and operates in the retail and wholesale trading industry.
• · The funds will be used for proposed expansion plans and working capital requirements.
• · Allotment of NOCPS is expected to be completed within 15 working days.
• · No governmental or regulatory approvals are required beyond regular establishment licenses/registration.

20-05-2026

Triveni Engineering & Industries Limited has made effective the Composite Scheme of Arrangement involving itself, Sir Shadi Lal Enterprises Limited (SSEL), and Triveni Power Transmission Limited (TPTL), following NCLT approval and filing with the Registrar of Companies on May 19, 2026. This marks the operational completion of the merger/arrangement process.

• · The Scheme was sanctioned by the Hon'ble National Company Law Tribunal Allahabad Bench via Orders dated May 7, 2026 and May 18, 2026.
• · The effective date of the Scheme is May 19, 2026, coinciding with the filing of NCLT Orders (Form INC 28) with the Registrar of Companies around 6:45 p.m.
• · The Scheme involves Sections 230 to 232 of the Companies Act, 2013.

20-05-2026

Gayatri Highways Limited filed a disclosure under SEBI (SAST) Regulations, 2011 on May 20, 2026, for T V Sandeep Kumar Reddy. The filing is a regulatory disclosure under Regulation 31(1) and 31(2) of the SAST Regulations, indicating a change in shareholding or acquisition of shares by the named individual. However, no specific deal structure, valuation, or financial details are provided in the filing, limiting the ability to assess materiality or strategic rationale. The sector is listed as technology, but the company's core business is highways/infrastructure, creating a potential mismatch.

• · The filing is a disclosure under Regulation 31(1) and 31(2) of SEBI SAST Regulations, which typically relates to changes in shareholding of promoters or persons acting in concert.
• · The named individual is T V Sandeep Kumar Reddy, but no designation or relationship to the company is disclosed.
• · The sector is listed as 'technology', but Gayatri Highways Limited is primarily an infrastructure/highways company, suggesting possible misclassification or a new business line.

20-05-2026

Grasim Industries' board approved the acquisition of a 26% equity stake in Ampin C&I Power Thirty Private Limited, a special purpose vehicle (SPV) for a captive wind-solar hybrid power project in Harihar, Karnataka. The investment is up to ₹30.60 crore in cash, aimed at meeting green energy needs, optimizing energy costs, and complying with captive power regulations. The acquisition is not a related-party transaction and is expected to be completed within 180 days of signing key agreements.

• · The SPV was incorporated on 23rd July 2025 and has its registered office in New Delhi.
• · The hybrid facility will have a total capacity of 37.95 MWp DC / 25.30 MW AC Solar and 27 MW AC Wind.
• · No governmental or regulatory approvals are required for the acquisition.
• · The acquisition is not a related-party transaction and promoter group has no interest in the SPV.

20-05-2026

Shekhawati Industries Limited made a disclosure under SEBI SAST Regulation 29(2) regarding acquisition of its shares by Altius Buildcon Pvt Ltd. The filing is purely a regulatory disclosure confirming the acquisition event; however, it does not disclose the deal size, share count, valuation, or strategic rationale of the transaction. As a result, the analysis is severely data-limited and no material financial impact can be quantified.

• · Filing is a bare-bones regulatory disclosure under SEBI SAST Regulations.
• · No financial details, transaction value, or share count provided.
• · Acquirer is Altius Buildcon Pvt Ltd, target is Shekhawati Industries Ltd.
• · Date of disclosure: May 20, 2026.

20-05-2026

Medi Assist Healthcare Services Limited announced that the Regional Director, South Western Region, Bengaluru has referred the Scheme of Amalgamation between its two wholly owned subsidiaries — International Healthcare Management Services Private Limited and Mayfair Consultancy Services India Private Limited — to the Hon’ble National Company Law Tribunal (NCLT), Bengaluru. The company emphasized that this internal restructuring has no impact on its consolidated financial statements.

• · The filing updates the earlier intimation dated February 06, 2026 regarding the Scheme of Amalgamation.
• · The Regional Director has referred the matter to the Hon’ble National Company Law Tribunal, Bengaluru.
• · The scheme is an internal restructuring process involving two wholly owned subsidiaries of Medi Assist.
• · The company confirms no impact on consolidated financial statements.

20-05-2026

Premier Energy and Infrastructure Ltd has received a disclosure under SEBI (SAST) Regulation 29(2) from Shri Housing Pvt Ltd, indicating a substantial acquisition of shares. The filing is purely a regulatory disclosure and does not provide any financial details, deal structure, valuation, or strategic rationale. No quantitative data, named entities beyond the parties, or scheduled events are disclosed. The information is insufficient to assess materiality or investment impact.

• · Filing is a disclosure under SEBI SAST Regulation 29(2) received by the exchange on May 20, 2026.
• · Acquirer is Shri Housing Pvt Ltd, target is Premier Energy and Infrastructure Ltd.
• · No deal size, share count, percentage changes, or financial metrics disclosed.

20-05-2026

Park Medi World Ltd announced the incorporation of a wholly owned step-down subsidiary, Healplus Medical Services Private Limited, via its subsidiary Park Medicenters and Institutions Private Limited. The new entity, incorporated on May 20, 2026, will focus on healthcare services including pharmaceutical distribution and retail, with an initial cash infusion of INR 0.01 crore. The move aims to diversify and expand the company's current business operations.

• · The step-down subsidiary is wholly owned by Park Medicenters and Institutions Private Limited, in which Park Medi World Ltd holds 81.81% equity.
• · Healplus Medical Services Private Limited was incorporated on May 20, 2026, and has no prior turnover.
• · The subsidiary will engage in retail/wholesale distribution of pharmaceuticals, medical goods, and healthcare products.
• · No governmental or regulatory approvals are required for the acquisition.
• · The consideration is in cash, infused by Park Medicenters and Institutions Private Limited along with its nominee.

20-05-2026

Lenskart Solutions Limited (LENSKART) announced audited standalone financial results for Q4 and FY ended March 31, 2026, with revenue from operations of ₹14,704.57 million for the quarter (up from ₹13,807.60 million in Q3 FY25) and ₹52,418.35 million for the full year (up from ₹40,392.43 million in FY24). However, quarterly profit figures are not explicitly disclosed in the extract, and the proforma statements (reflecting recent acquisitions including OWNDAYS Inc.) are unaudited. The Board also approved acquiring additional stake in OWNDAYS Inc. (Japan) via its Singapore subsidiary and a proposed merger of two wholly-owned subsidiaries (Dealskart Online Services Pvt Ltd and Lenskart Eyetech Pvt Ltd) into Lenskart Solutions Limited to simplify the group structure.

• · The unaudited Proforma Statements of Profit and Loss were approved to reflect the impact of acquisitions made in the last 12 months but are not subject to audit.
• · The additional stake acquisition in OWNDAYS Inc. is through a proposed sale of shares by existing shareholder Mr. Shuji Tanaka.
• · The proposed merger of Dealskart Online Services Pvt Ltd and Lenskart Eyetech Pvt Ltd into the parent is subject to approval by Board, shareholders, creditors, and NCLT.
• · PricewaterhouseCoopers Services LLP re-appointed as Internal Auditor for FY 2026-27.
• · DPV & Associates LLP re-appointed as Secretarial Auditor for five consecutive years from FY 2026-27 (subject to shareholder approval).
• · Equity shares allotted upon exercise of vested options under ESOP 2021.
• · The standalone financial results received an unmodified (clean) audit opinion.
• · Quarterly profit or net income figures were not explicitly stated in the provided extraction.

20-05-2026

B-RIGHT REALESTATE LIMITED announced that its step-down subsidiary, B-Right Bombay Highlines Developers Private Limited, has been appointed for the redevelopment of Mangalya Co-Operative Housing Society Limited in Mahim West, Mumbai. The project has a land area of 1,323.95 sq. mtr. and an expected Gross Development Value (GDV) of approximately ₹212 Crore, benefiting 24 families.

• · The step-down subsidiary is B-Right Bombay Highlines Developers Private Limited.
• · The society is located at Mahim West, Mumbai.
• · Land area is 1,323.95 sq. mtr.

20-05-2026

Vodafone Idea Limited has entered into a Power Purchase Agreement and a Share Purchase Agreement on May 20, 2026, to acquire not less than 26% paid-up equity share capital of MTK Quantum Green Energy Pvt. Ltd., a special purpose vehicle formed to own and operate a captive power plant. The acquisition, with a cash consideration of ₹4,33,22,500, aims to comply with regulatory requirements for captive power plants under the Electricity Act, 2003 and Indian Electricity Rules, 2005, and to procure cost-effective renewable energy. The target company, incorporated on October 29, 2025, has nil turnover and is currently setting up a captive solar power plant in Tamil Nadu.

• · The acquisition does not fall within the purview of related party transactions, and the promoter/promoter group/group companies have no interest in MTK Quantum Green Energy Pvt. Ltd.
• · No governmental or regulatory approvals are required for the acquisition.
• · The acquisition is expected to be completed in approximately 6 months, in one or more tranches.
• · MTK Quantum Green Energy Pvt. Ltd. is a subsidiary of Shree MTK Textiles Private Limited and was incorporated on October 29, 2025.
• · The target company has nil turnover and is currently in the process of setting up a captive solar power plant in Tamil Nadu.

20-05-2026

Stylam Industries Ltd filed a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011, indicating that Aica Kogyo Company Ltd has crossed a substantial acquisition threshold. The filing is purely a regulatory disclosure and does not provide any financial details, deal structure, valuation, or strategic rationale. No quantitative data on transaction value, share count, or financial metrics is disclosed.

• · The filing is under Regulation 29(2) of SEBI SAST Regulations, which requires disclosure when an acquirer holds shares/voting rights exceeding the threshold (typically 5%, 10%, 14%, etc.).
• · Aica Kogyo Company Ltd is the acquirer, but the exact percentage acquired is NOT_DISCLOSED in the filing summary.
• · No information on whether this is a friendly or hostile acquisition, or the mode of acquisition (open market, preferential allotment, etc.).

20-05-2026

The filing is a disclosure under SEBI SAST Regulation 29(2) by Chambal Fertilizers & Chemicals Ltd regarding CM Airtime Promotion LLP. The filing itself contains no financial details, deal structure, valuations, or strategic rationale; it is purely a regulatory disclosure of a substantial acquisition event. No quantitative data, forward-looking statements, or scheduled events are provided in the filing.

• · Filing made under SEBI SAST Regulation 29(2) on May 20, 2026.
• · Involves CM Airtime Promotion LLP.
• · No deal value, share count, shareholding changes, or financial details disclosed.

20-05-2026

Pri Caf Private Limited, a promoter group entity, acquired 10,71,000 equity shares (0.1178% of diluted capital) of Paisalo Digital Limited via open market purchase on May 20, 2026. Post-acquisition, Pri Caf's total holding increased from 2.9437% to 3.0614% of the company's diluted voting capital. The acquisition was disclosed under SEBI Takeover Regulations.

• · The acquisition was made by a promoter group entity (Pri Caf Private Limited), indicating insider buying.
• · The total diluted share capital of Paisalo Digital remains unchanged at ₹90,95,21,874 divided into 90,95,21,874 equity shares of Re. 1 each.
• · No encumbrances (pledge/lien) were involved in the transaction.
• · The acquisition was executed via open market purchase.

20-05-2026

Sun Pharma Advanced Research Company Ltd (SPARC) has disclosed a substantial acquisition filing under SEBI SAST Regulations for Shanghvi Finance Pvt Ltd and its PACs. The filing is a regulatory disclosure under Regulation 29(2) and does not provide any financial details, deal structure, or strategic rationale. The information is purely procedural, indicating a change in shareholding or control that triggered the disclosure requirement, but the specifics of the transaction are not disclosed in this filing.

• · The filing is a disclosure under Regulation 29(2) of SEBI SAST Regulations.
• · The acquirer is Shanghvi Finance Pvt Ltd and its Persons Acting in Concert (PACs).
• · No deal value, share count, or percentage changes are disclosed in this filing.

20-05-2026

Msafe Equipments Ltd filed a disclosure under SEBI SAST Regulation 29(2) regarding Ajay Kumar Kanoi. No financial details, deal structure, or strategic rationale are provided in the filing. The disclosure is purely regulatory with no quantitative data.

20-05-2026

Promoter M. Manickam acquired 1,68,60,000 equity shares (14.18% stake) of Sakthi Sugars Limited from ABT Investments (India) Private Limited at ₹15.96 per share, totaling ₹26,90,85,600, via an inter se transfer on May 4, 2026. The transaction was executed under SEBI Takeover Code exemption Regulation 10(1)(a)(ii) and resulted in no change to the aggregate promoter and promoter group shareholding. The filing confirms compliance with all regulatory disclosure requirements.

• · The acquisition was executed on May 4, 2026, with prior intimation to stock exchanges on April 17, 2026, and post-acquisition report filed on May 5, 2026.
• · The SEBI report under Regulation 10(7) was filed on May 14, 2026, within 21 working days of the acquisition.
• · The acquisition price of ₹15.96 per share is not higher by more than 25% of the 60-trading-day VWAP (also ₹15.96).
• · Both acquirer and seller have complied with disclosure requirements under Chapter V of SEBI (SAST) Regulations for the prior three years.
• · The aggregate promoter and promoter group shareholding remains unchanged after the inter se transfer.

20-05-2026

Mr. Anil Kumar Dedhia, a non-promoter shareholder of Ganesh Benzoplast Limited, sold 8,50,000 shares (1.18% of voting capital) on May 20, 2026 through open market transactions. Post-sale, his individual shareholding decreased from 4.63% to 3.45% of the total voting capital. The total holdings of Mr. Dedhia and his Persons Acting in Concert (PAC) declined from 40,01,000 shares (5.56%) to 31,51,000 shares (4.38%).

• · The sale was made under Regulation 29(2) of SEBI Takeover Code, which mandates disclosure when a shareholder's holding changes by 2% or more.
• · Sandhya Anil Dedhia, a PAC, did not sell any shares; her 525000 shares (0.73%) remained unchanged.
• · The company's total equity capital is ₹7,19,89,421 consisting of 7,19,89,421 equity shares of Re 1 each.
• · Shares were sold via open market transaction on May 20, 2026 (filing date).
• · Mr. Dedhia is not part of the promoter/promoter group.

20-05-2026

Swarna Malhotra, a promoter group member, acquired 182 equity shares of Sunshield Chemicals Ltd. on May 19, 2026, through an open market purchase. Post-acquisition, the promoter group (including PACs) holds 66.54% of the total share capital, unchanged from the prior holding percentage. The acquisition is minimal and does not alter the overall promoter stake.

• · The acquisition was made under Regulation 29(2) of SEBI Takeover Regulations, 2011.
• · Mode of acquisition: Open Market.
• · Date of acquisition: May 19, 2026.
• · No shares were acquired in the nature of encumbrance (pledge/lien/non-disposal undertaking).
• · No voting rights otherwise than by equity shares or warrants/convertible securities were involved.

20-05-2026

Sir Shadi Lal Enterprises Ltd (SSEL) has been amalgamated with Triveni Engineering and Industries Ltd (TEIL) effective from the appointed date of April 1, 2025. The record date for determining shareholders eligible for new equity shares of TEIL is June 3, 2026. SSEL will be dissolved without winding up, and its financial results for FY 2026 will be subsumed into TEIL's standalone results.

• · Appointed date for merger: April 01, 2025
• · Record date for share exchange: June 3, 2026
• · SSEL's equity shares will be cancelled and new shares of TEIL issued per the share exchange ratio in the Scheme
• · Filing made under Regulation 30 of SEBI LODR Regulations

20-05-2026

Just Right Life Limited, part of the promoter group of Eraaya Lifespaces Limited, converted 76,00,000 warrants into equity shares at ₹81 per share (₹80 premium) on April 23, 28, and 29, 2026. This increased its voting rights from 3.58% to 7.00% of the total equity capital, while diluted voting rights rose from 2.20% to 4.46%. The acquisition was made through preferential allotment and the shares are subject to applicable lock-in requirements.

• · The warrants were originally issued on a preferential basis under Chapter V of SEBI (ICDR) Regulations, 2018.
• · The issue price per share was ₹81, comprising a face value of ₹1 and a premium of ₹80.
• · The newly allotted shares rank pari-passu with existing equity shares and are subject to applicable lock-in requirements.
• · Before the acquisition, Just Right Life Limited held 74,00,000 voting shares (3.58%) and 76,00,000 warrants (0% voting rights, 2.26% diluted).
• · After the acquisition, the total voting rights of Just Right Life Limited increased to 7.00% (1,50,00,000 shares) and diluted voting rights to 4.46%.

20-05-2026

LMW Limited reported standalone revenue from operations of ₹3,081.84 Cr for FY26, up 5.9% from ₹2,909.40 Cr in FY25, while net profit fell 35.4% to ₹153.92 Cr from ₹238.24 Cr, impacted by a prior-year exceptional gain of ₹131.61 Cr on sale of investments. The Board recommended a dividend of ₹35 per share (350%) and approved the re-appointment of Sri Sanjay Jayavarthanavelu as Managing Director for five years from April 2027, along with additional investment in wholly owned subsidiary LMW Holding Limited, UAE.

• · Auditors gave an unmodified opinion on standalone and consolidated financial results for Q4 and FY26.
• · Textile Machinery Division segment revenue declined 2.1% YoY to ₹1,801.17 Cr in FY26 from ₹1,840.31 Cr in FY25.
• · Machine Tool & Foundry Division segment revenue grew 20.1% YoY to ₹1,204.94 Cr in FY26 from ₹1,003.14 Cr in FY25.
• · Advanced Technology Centre segment revenue grew 22.2% YoY to ₹206.82 Cr in FY26 from ₹169.20 Cr in FY25.
• · Total Comprehensive Income for FY26 was ₹130.86 Cr, down from ₹289.66 Cr in FY25.
• · Reserves excluding revaluation reserves stood at ₹2,959.96 Cr as of March 31, 2026.
• · The Board approved additional investment in LMW Holding Limited, DIFC, UAE, a wholly owned subsidiary.
• · The 63rd Annual General Meeting will be held on July 24, 2026 via video conferencing.
• · Record date for dividend eligibility is July 17, 2026; register closure from July 18 to July 24, 2026.
• · M/s Brahmayya & Co. recommended as statutory auditors for five years from FY26-27, subject to shareholder approval.
• · Sri Narayanan Vellayan recommended for appointment as Independent Director from July 25, 2026.
• · Sri Chandrashekar R appointed as Head – Foundry and Advanced Technology Centre, effective May 20, 2026.

20-05-2026

Kati Patang Lifestyle Limited has allotted 14,58,333 equity shares at ₹24 each to acquire 100% of Agnetta International Private Limited via a share swap for an aggregate consideration of ₹3,49,99,992, and allotted 2,77,760 equity shares at ₹24 each to acquire an additional 1.43% stake in its unlisted material subsidiary Empyrean Spirits Private Limited (ESPL) for ₹66,66,240. However, the company noted that shares of ESPL held by Mr. Vivek Baid and Mr. Raguvir Gurumurthy could not be acquired under the share swap arrangement due to procedural reasons, leaving the total stake acquired in ESPL at 1.43% rather than the originally planned 1.98%.

• · The board meeting commenced at 4:30 PM and concluded at 5:45 PM on May 20, 2026.
• · Allottees for Share Swap 1 are non-promoter category: Komal Goyal (4,21,924 shares), Punit Ralhaan (4,21,924 shares), Ravinder Goyal (1,48,913 shares), and Plumeria Hospitality Private Limited (4,65,572 shares).
• · Allottees for Share Swap 2 are non-promoter category: Satish Krishnan (1,59,920 shares), Purslane Ventures AB (84,170 shares), and Chinar Sanghi (33,670 shares).
• · The shares of ESPL held by Mr. Vivek Baid and Mr. Raguvir Gurumurthy could not be acquired under the share swap arrangement due to procedural reasons, resulting in a lower-than-planned stake increase in ESPL (1.43% vs. originally planned 1.98%).
• · The offer price per equity share is ₹24, including a premium of ₹14 per share.

20-05-2026

GOCL Corporation Limited has received an observation letter from BSE Limited with 'no adverse observations' regarding its proposed scheme of merger by absorption of Hinduja National Power Corporation Limited (HNPCL) into GOCL. The scheme, initially approved by the board on December 15, 2025, remains subject to approvals from the NCLT, shareholders, and other regulatory bodies. The BSE letter includes 16 specific compliance conditions that GOCL must fulfill, including disclosure of ongoing enforcement actions, financials not older than 6 months, and detailed promoter classification post-merger.

• · The observation letter is valid for six months from May 20, 2026, within which the scheme must be submitted to the NCLT.
• · BSE reserves the right to withdraw its 'no adverse observation' if information is found incomplete, incorrect, misleading, or false.
• · GOCL must disclose all details of ongoing adjudication, recovery proceedings, prosecution, and enforcement actions against the company, its promoters, and directors before the NCLT and shareholders.
• · The scheme requires mandatory demat form for any equity shares to be issued.
• · GOCL must disclose the no-objection letter on its website within 24 hours of receipt.
• · The company must include information about unlisted companies (HNPCL) in the format prescribed for abridged prospectus in the explanatory statement to shareholders.
• · Financials in the scheme, including those used for valuation, must not be more than 6 months old.
• · GOCL must provide details of shareholders of HNPCL and their classification as promoters or public shareholders in GOCL post-scheme, with justification for classification.

20-05-2026

Utkarsh Small Finance Bank Limited has informed the exchanges that the Hon'ble National Company Law Tribunal (NCLT), Bengaluru Bench, has uploaded an order dated May 18, 2026, regarding the joint second motion petition for the Scheme of Amalgamation with Utkarsh CoreInvest Limited. The petition has been listed for hearing on July 23, 2026. The bank will comply with all directions in the order within stipulated timelines.

• · The joint second motion petition was originally filed on April 05, 2026.
• · The NCLT order was pronounced on May 18, 2026, and uploaded on the NCLT website on May 20, 2026.
• · The hearing for the joint petition is scheduled for July 23, 2026.
• · A certified copy of the order is still awaited by the bank.

20-05-2026

KEI Industries Limited has entered into a Share Subscription and Shareholders' Agreement (SSSA) and Solar Power Purchase Agreement (SPPA) on May 20, 2026, to acquire a 26% stake (along with other captive users) in Solarcraft Power India 24 Private Limited for an investment of Rs. 5.90 Crore. The investment, to be made in one or more tranches, will enable KEI to source up to 11.25 MW of solar power from a captive project in Rajasthan, supporting its renewable energy commitments. The target entity is a special purpose vehicle with zero turnover in its first three fiscal years (FY2024–FY2026).

• · The target entity, Solarcraft Power India 24 Private Limited, was incorporated on June 6, 2023 and has reported zero turnover for FY2024, FY2025, and FY2026.
• · The acquisition is not a related party transaction and the promoter/promoter group has no interest in the entity being acquired.
• · The transaction is subject to customary conditions precedent and is expected to be completed within 90 days.
• · Consideration is in cash (equity and CCD investment).

20-05-2026

Visa Steel Limited has filed a revised disclosure under SEBI SAST Regulations for Visa Infra Ltd. The filing is a regulatory compliance update with no financial details or strategic rationale disclosed. No deal structure, valuation, or shareholder impact information is available.

20-05-2026

Parichay Infrastructure Limited (formerly Parichay Investments Limited) disclosed the acquisition of 3,99,32,000 equity shares (4.42% stake) in Biogen Pharmachem Industries Limited on May 18, 2026, via open market purchase. Post-acquisition, Parichay Infrastructure's holding in Biogen decreased from 9.08% to 4.66%, indicating a net sale of shares rather than an acquisition, as the acquirer's total holding reduced despite the reported purchase.

• · The acquirer, Parichay Infrastructure Limited, is not part of the promoter/promoter group of Biogen Pharmachem Industries Limited.
• · The transaction was executed via open market purchase on May 18, 2026.
• · Despite acquiring 3,99,32,000 shares (4.42%), Parichay's overall holding dropped from 9.08% to 4.66%, implying a larger sale of shares occurred simultaneously or the filing reflects a net reduction.
• · The equity share capital of Biogen is ₹90,26,03,000 divided into 90,26,03,000 equity shares of ₹2 each, unchanged before and after the transaction.

20-05-2026

The filing is a disclosure under SEBI (SAST) Regulations, 2011, Regulation 29(2), regarding the acquisition of shares in Kilburn Engineering Ltd by Procheta Consultants Pvt Ltd. The filing does not disclose the deal size, valuation, or specific terms of the transaction. No financial metrics, shareholding changes, or strategic rationale are provided in the disclosure.

• · The filing is a disclosure under Regulation 29(2) of SEBI SAST Regulations, 2011.
• · The acquirer is Procheta Consultants Pvt Ltd.
• · The target company is Kilburn Engineering Ltd (BSE Scrip Code: 522101).
• · No deal value, share count, or percentage of acquisition is disclosed in the filing.

20-05-2026

On May 15, 2026, Goswami Infratech Private Limited (GIPL) created a direct pledge over 7,35,58,600 shares of Afcons Infrastructure Limited (20.00% of share capital) in favor of Axis Trustee Services Limited (ATSL) as common security trustee for debenture holders of GIPL and Capespan Investment Private Limited. The pledge follows the release of a lock-in on those shares under SEBI ICDR Regulations. There was no change in the total encumbered quantity of 9,20,72,053 shares (25.03% of share capital), as an indirect encumbrance already existed over the entire GIPL shareholding in Afcons. The filing is purely an encumbrance disclosure; no acquisition or disposal of voting rights occurred, and ATSL holds no beneficial interest.

• · There is no acquisition or disposal of voting rights — the filing is a pure encumbrance disclosure under SEBI SAST Regulation 29(2) & 29(4).
• · Axis Trustee Services Limited holds no beneficial interest in the pledged shares; it acts solely as common security trustee for debenture holders.
• · The initial indirect encumbrance on the entire Afcons holding by GIPL (9,20,72,053 shares) existed since at least December 2025 via the GIPL Pledge over GIPL's share capital.
• · The lock-in on 7,35,58,600 shares of Afcons (held by GIPL) under SEBI ICDR Regulations was released, enabling the direct pledge creation on that block.
• · The direct pledge over 7,35,58,600 shares (20% of Afcons) was created on May 15, 2026; this does not change the total encumbered quantity.
• · The remaining 1,85,13,453 shares (5.03% of Afcons) were already directly pledged since the initial Afcons pledge in 2023/2025.
• · SP Finance Private Limited and SC Finance and Investments Private Limited collectively own 100% share capital of GIPL, creating indirect chain of control.

20-05-2026

Catalyst Trusteeship Limited, as onshore security agent for a consortium of lenders, disclosed the creation of a pledge over 5,82,99,642 equity shares of Mphasis Limited (30.55% of total share capital) held by promoter BCP Topco IX Pte. Ltd. The pledge was created on May 15, 2026 under a facility agreement dated May 12, 2026, to secure term loan facilities. The filing is a regulatory disclosure under SEBI SAST Regulations and does not involve any acquisition of shares by the acquirer.

• · The pledge was created under an Indian law governed pledge agreement dated May 12, 2026.
• · The pledge is a first ranking exclusive pledge in favor of the Onshore Security Agent for the benefit of the lenders.
• · Additional covenants in the nature of encumbrance (negative lien and non-disposal covenants) came into effect from May 15, 2026.
• · The acquirer (Catalyst Trusteeship Limited) held no shares before or after the acquisition; only the pledge/encumbrance is reported.
• · Nomura Singapore Limited independently holds an interest in 22,825 equity shares (approx. 0.01%) via futures.

20-05-2026

Valiant Organics Limited (VOL) has proposed to acquire 1,86,07,531 equity shares (34.26% of share capital) of Valiant Laboratories Limited (VLL) from Dhanvallabh Ventures LLP (DVLLP) through an off-market transaction, under an exemption from making an open offer (Regulation 10(1)(a)(iii) of SEBI SAST). The acquisition is part of a restructuring exercise by VOL, and the price will not exceed 125% of the 60-day volume weighted average market price (₹62.71/share). Post-transaction, VOL's stake will rise from nil to 34.26%, while DVLLP's stake will fall from 46.84% to 12.58% — a significant reduction of 34.26 percentage points for the seller.

• · The exemption is sought under Regulation 10(1)(a)(iii) of the SEBI SAST Regulations, 2011, which allows acquisitions without a mandatory open offer.
• · The proposed acquisition is subject to receipt of requisite approvals; the transaction will occur any time after 4 working days from the date of intimation (May 19, 2026).
• · The acquirer (VOL) is already a member of the promoter group of the target company (VLL) prior to this transaction.
• · The shares of VLL are frequently traded; the 60-day VWAP as on the date of notice was ₹62.71 per share.
• · The acquirer declares that the acquisition price will not be higher by more than 25% of the computed 60-day VWAP price (i.e., maximum ₹78.39 per share).
• · The seller (DVLLP) will retain a 12.58% stake post-transaction, down from 46.84% — a reduction of 34.26 percentage points.

20-05-2026

JSW Energy Limited, a member of the promoter group of JSW Steel Limited, sold 2,50,00,000 equity shares (1.02% of equity share capital) of JSW Steel through a bulk deal on May 18, 2026. Following the sale, the promoter group's total holding in JSW Steel decreased from 45.32% to 44.29%.

• · The sale was executed as a bulk deal on the open market.
• · JSW Energy's individual holding in JSW Steel decreased from 7,00,38,350 shares (2.86%) to 4,50,38,350 shares (1.84%).
• · No other promoter group entities (PACs) sold shares in this transaction.
• · Post-sale, the promoter group continues to hold 1,08,32,03,750 shares (44.29% of equity).
• · Of the promoter group's post-sale holding, 13,36,06,840 shares (5.46% of equity) remain encumbered (pledged).

20-05-2026

Hemant Surgical Industries Limited filed a disclosure under SEBI SAST Regulation 29(2) on May 20, 2026, regarding Singularity Large Value Fund III. The filing confirms a substantial acquisition of shares, but no specific deal structure, valuation, strategic rationale, or financial metrics are disclosed. The event is purely a regulatory disclosure with no quantitative data on transaction value, share count, or shareholding changes.

20-05-2026

NDL Ventures Limited has received 'No-objection / No Adverse Observation' letters from BSE and NSE for its proposed scheme of merger by absorption of Hinduja Leyland Finance Limited (HLFL) into NDL. The stock exchanges have conveyed their no-objection subject to compliance with several conditions, including detailed disclosures to shareholders regarding promoter shareholding changes, financials, valuation, and pending litigations. The scheme now requires approval from the Hon'ble NCLT, shareholders of both companies, and other statutory authorities, with the observation letters valid for six months from the date of issue.

• · The observation letters from BSE and NSE were issued on May 18, 2026 and May 19, 2026 respectively.
• · The validity of the observation letters is six months from the date of issue (BSE letter valid until November 18, 2026; NSE letter valid until November 19, 2026).
• · SEBI's comments include a requirement that the scheme shall be acted upon only if the votes cast by public shareholders in favor exceed those against.
• · The company must disclose the pre- and post-scheme shareholding of promoter/promoter group and public shareholders, highlighting any increase in promoter shareholding.
• · All pending actions against the entities, promoters, directors, and KMPs must be disclosed to shareholders.
• · The proposed equity shares to be issued under the scheme must be in demat form only.
• · The company must ensure financials considered for valuation are not more than 6 months old.
• · The scheme is subject to compliance with Regulation 11 of SEBI (LODR) Regulations, 2015 regarding continuing listing obligations.

20-05-2026

Autoline Industries Limited (Transferee Company) has filed a Scheme of Amalgamation with its wholly owned subsidiary Autoline Design Software Limited (Transferor Company), with an Appointed Date of April 1, 2025. The amalgamation aims to achieve operational synergies, streamline operations, reduce costs, and increase financial strength and competitiveness for the combined entity. The scheme is subject to necessary regulatory approvals including from NCLT.

• · The Transferor Company (Autoline Design Software Ltd) is a wholly owned subsidiary of the Transferee Company (Autoline Industries Ltd) with CIN U72200PN2004PLC148734.
• · The Appointed Date for the amalgamation is April 1, 2025, or such other date as approved by the NCLT.
• · The Transferor Company provides IT-enabled services primarily for the automotive sector; the Transferee Company manufactures and supplies auto components and its shares are listed on BSE and NSE (Symbol: AUTOIND, Scrip Code: 532797).
• · No consideration or share exchange ratio is disclosed in the filing as the Transferor Company is a wholly owned subsidiary.
• · The amalgamation is under Sections 230 and 232 of the Companies Act, 2013, and is designed to comply with Section 2(1B) of the Income Tax Act, 2025 for tax-neutral amalgamation.

20-05-2026

Divyashakti Limited submitted a declaration to BSE confirming that no encumbrances were created or existed on promoter-held shares during FY ended March 31, 2026, in compliance with SEBI (SAST) Regulation 31(4). The filing is a routine regulatory clarification with no material financial impact.

• · No encumbrances were created or existed on promoter shares during FY ended 31st March 2026.
• · The declaration was submitted in response to a BSE email dated 19th May 2026 seeking clarification under Regulation 31(4) of SEBI (SAST) Regulations, 2011.
• · The company was formerly known as Divyashakti Granites Ltd.

20-05-2026

Zydus Lifesciences Limited and its subsidiaries have completed the subscription of equity shares in Torrent Urja 25 Private Limited, investing a total of ₹128.83 million (₹12.883 Cr) across four tranches. The final tranches (2, 3, and 4) of ₹90.18 million were subscribed on May 19, 2026, bringing the total stake to 22.06% of Torrent Urja 25's paid-up share capital. This transaction consummates the investment process initiated in May 2025.

• · The subscription was executed under a Share Subscription and Shareholders' Agreement (SSSA) dated May 28, 2025.
• · The investment was made by Zydus Lifesciences Limited and its various subsidiaries collectively.
• · The transaction was consummated on May 19, 2026.
• · The stake percentage (22.06%) remained the same after Tranche 1 and after the final tranches, indicating the investment was structured to maintain a consistent ownership level.

20-05-2026

RAN Ventures Private Limited, a promoter group entity of Zaggle Prepaid Ocean Services Limited, acquired 50,000 equity shares (0.04% of total share capital) via open market purchase on May 19, 2026. Post-acquisition, the promoter group's total shareholding increased marginally from 44.23% to 44.26% of voting capital. The acquisition is a routine open-market purchase by a promoter group entity and does not represent a material change in control or ownership structure.

• · The acquisition was made from the open market on May 19, 2026.
• · The promoter group includes RAN Ventures Private Limited (acquirer) and four PACs: Raj P Narayanam, Avinash Ramesh Godkhindi, Quadigo Ventures LLP, and Sumedha Rao.
• · The total diluted share capital of the target company after the acquisition is 13,55,16,646 equity shares of ₹1 each.
• · No shares were encumbered (pledged/liened) before or after the acquisition.
• · The acquirer also holds 3,52,734 warrants/convertible securities (0.26% of diluted capital) which remained unchanged.

20-05-2026

Chemfab Alkalis Limited invested ₹14,90,99,985.30 (₹14.90 Cr) in Zenataris Renewable Energy Private Limited on May 19, 2026, acquiring a 3.35% equity stake under a group captive mechanism. The investment aims to secure renewable power at a lower tariff, resulting in cost savings. The acquisition is not a related party transaction and is outside the company's main line of business.

• · Zenataris Renewable Energy Private Limited was incorporated on October 8, 2018, and is engaged in developing, building, and managing solar and wind power assets.
• · The investment was made on May 19, 2026, and the acquisition is completed.
• · The consideration is in cash.
• · No governmental or regulatory approvals were required.
• · The acquisition does not fall within related party transactions.

20-05-2026

LCC Infotech Limited submitted a yearly disclosure under Regulation 31(4) of the SEBI Takeover Regulations for the financial year ended March 31, 2026, regarding promoter shareholdings. The filing is a routine regulatory compliance document and does not contain any financial results, merger details, or material business changes.

• · Filing is a yearly promoter shareholding disclosure under SEBI Regulation 31(4) for FY ended March 31, 2026.
• · No financial figures, merger details, or acquisition specifics are provided in the filing content.