India Technology Sector Merger & Acquisition Filings — May 21, 2026

21-05-2026

Caladium Investment Pte. Ltd., a non-promoter shareholder of Ather Energy Limited, disclosed the sale of 354,193 equity shares (0.09% of diluted capital) via open-market transactions on 15 May 2026, reducing its stake from 8.58% to 8.49% of total share capital. The filing also details a cumulative stake reduction of ~1.998% (7,653,000 shares) from 2 May 2025 to 14 May 2026, driven by both open-market sales and dilution from ESOP allotments under the Ather Energy ESOP 2025 Plan. While the immediate sale is small, the gradual decline from an initial post-IPO holding of 10.88% to 8.49% signals sustained selling by a significant institutional investor.

• · Caladium's post-IPO stake was 10.88% (as of 2 May 2025), which was diluted to 10.65% by ESOP allotments in August/September 2025.
• · Between 18 November 2025 and 11 December 2025, Caladium sold 5,100,000 equity shares (~1.3% stake), reducing holding to 9.27%.
• · Additional ESOP allotments (494,266 + 40,735 + 297,012 shares) in Feb-Mar 2026 further diluted Caladium's stake to 9.25% as of 31 March 2026.
• · The sale of 2,553,000 shares up to 14 May 2026 brought Caladium's pre-disposal stake to 8.58%.
• · The cumulative sale of 7,653,000 shares over ~12 months was below the 2% threshold requiring earlier disclosure under SAST Regulations.

21-05-2026

Man Industries (India) Limited, through its wholly owned subsidiary MAN International Steel Industries Company (MISIC), has acquired 100% of National Pipe Company Limited (NPC) in Saudi Arabia for a total cash consideration of USD 102 million (~INR 1,000 Crore). The acquisition adds 430,000 MTPA of API-certified large-diameter pipe capacity at an attractive valuation of 1.5x EV/EBITDA (vs. peer multiples of 7–9x) and is EPS-accretive from Day 1. NPC is debt-free with USD 83 million in cash and liquid assets and a net worth of USD 158.6 million, but the filing does not disclose any negative or flat performance metrics for NPC.

• · NPC's CY2025 revenue was SAR 792.7 Mn (INR 1,898.9 Cr), EBITDA SAR 196.7 Mn (INR 471.1 Cr), PBT SAR 162.0 Mn (INR 388.0 Cr), PAT SAR 143.5 Mn (INR 343.6 Cr).
• · NPC's net worth as of April 2026 was USD 158.6 Mn (SAR 594.9 Mn, INR 1,421.1 Cr).
• · NPC's cash & liquid assets total USD 83 Mn: cash & bank USD 38 Mn, trade receivables USD 13 Mn, finished goods inventory USD 32 Mn.
• · NPC's order position at acquisition was USD 120 Mn, with L1 status on additional orders and a healthy bid pipeline.
• · The acquisition was completed at 0.4x EV/Revenue and 0.7x P/B on CY2025, vs. Saudi listed peer averages of 1.5–2x EV/Revenue and 2–3x P/B.
• · NPC is debt-free and holds API 5L, API 2B, ISO 9001:2015 certifications; it has been a Saudi Aramco Approved Vendor for over 20 years.
• · The Dammam greenfield facility (83 acres) will now be developed as a dedicated 3LP coating plant instead of an integrated pipe and coating mill.
• · Key addressable Saudi programs: MGS Phase 3 (4,153 km, USD 8.8 Bn), Jafurah gas field (1,500 km, USD 100 Bn+ lifecycle), National Water Strategy (USD 80 Bn, 3,300+ projects), NEOM, Qiddiya (USD 40 Bn), Diriyah Gate (USD 20 Bn).
• · Expected payback period on the investment is approximately 1.5 years based on NPC's current earnings profile and order book.

21-05-2026

Vikran Engineering Limited has acquired a 51% stake in NOPL Solar Projects Private Limited for ₹5.10 Crore, taking its total ownership to 100% and making it a wholly owned subsidiary. The acquisition, completed on May 20, 2026, is a related party transaction (one director and one KMP of Vikran are also directors in NOPL) but was conducted at arm's length. This move aligns with the company's strategy to expand in the renewable energy sector, specifically targeting solar power projects under the PM-KUSUM scheme.

• · The acquisition was completed on May 20, 2026, the same day the Share Purchase Agreement was executed.
• · Prior to this acquisition, Vikran Engineering already held a 49% stake in NOPL Solar Projects Private Limited.
• · The target entity was incorporated on May 20, 2024, with a paid-up capital of ₹1,00,000.
• · NOPL is engaged in a 969 MW (AC) grid-connected solar power project under Component C of the PM-KUSUM Scheme in Maharashtra.
• · The company has undertaken execution of solar power projects in FY 2025-2026, evidencing operational progression.

21-05-2026

Brand Concepts Limited reported an off-market inter-se transfer (by way of gift) of 1,624,220 equity shares (13.01% of total share capital) from promoter Mr. Pradeep Maheshwari to promoter-group member Mr. Prateek Maheshwari, effective 08-05-2026. The transaction increased Mr. Prateek Maheshwari’s holding from 1,376,154 (11.03%) to 3,000,374 (24.04%) and reduced Mr. Pradeep Maheshwari’s holding from 2,468,853 (19.78%) to 844,633 (6.77%); the transfer was declared exempt under Regulation 10(1)(a)(i) of SEBI SAST and the required disclosures and fees (INR 1,50,000 plus GST INR 27,000, total INR 1,77,000) were submitted. While ownership remains within the promoter group (no external change of control), the reallocations materially shift individual promoter stakes and trigger reporting under SEBI SAST Regulations.

• · Date of acquisition: 08-05-2026
• · Report date / filing date with company and exchanges: 21-05-2026
• · Regulation cited for exemption: Regulation 10(1)(a)(i) of SEBI SAST Regulations
• · Regulation which would have triggered if not exempt: Regulation 3(2)
• · Regulation 10(5) report filed on 04-05-2026 and Regulation 10(6) report filed on 12-05-2026
• · NEFT UTR NO. for fee remittance: SBIN326139301239 dated 19.05.2026
• · Acquisition price per share: Not Applicable (inter-se transfer by way of gift)

21-05-2026

Akepati Pranay Reddy, a promoter group member of MTAR Technologies Limited, sold 60,000 equity shares (0.20% of voting capital) in open market transactions on May 19-20, 2026. Post-sale, his holding decreased from 2,50,000 shares (0.81%) to 1,90,000 shares (0.61%). The sale represents a reduction of 24% in his stake, though the overall promoter group's position remains unchanged from the company's perspective.

• · The sale was executed over two days: May 19-20, 2026.
• · The total equity capital of MTAR Technologies is ₹30,75,95,910 divided into 3,07,59,591 fully paid equity shares of ₹10 each.
• · The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
• · The seller is part of the promoter group, and the sale was conducted on the open market.

21-05-2026

Rose Merc Limited has executed a fourth amendment to its share subscription agreement for the acquisition of a 30.07% stake in Emirates Holding FZ LLC. The amendment extends the payment period and revises the number of tranches and manner of payment of the subscription amount (AED 10,869,540). The company had already acquired the stake as of March 27, 2025, but payment is being made in tranches.

• · The original share subscription agreement was dated December 22, 2024.
• · First, second, third, and fourth amendments were executed on March 28, 2025, September 1, 2025, October 14, 2025, and May 20, 2026 respectively.
• · Rose Merc has nominated and appointed majority directors on the Board of Emirates, making it a board-controlled subsidiary.
• · The transaction is on an arm's length basis and falls within related party transactions.
• · The fourth amendment was executed on May 20, 2026, and intimated to the exchange on May 21, 2026.

21-05-2026

RAN Ventures Private Limited, a promoter group entity of Zaggle Prepaid Ocean Services Limited, acquired 30,000 equity shares (0.02% of total share capital) via open market purchase on May 20, 2026. Post-acquisition, the promoter group's total holding (including warrants) increased marginally from 44.26% to 44.29% 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 20, 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/lien) before or after the acquisition.
• · The promoter group continues to hold 3,52,734 warrants/convertible securities (0.26% of diluted capital) unchanged.

21-05-2026

Adani Power Limited has entered into definitive agreements to acquire a 24% stake in Jaiprakash Power Ventures Limited (JPVL) for ₹2,993.59 Cr and a 180 MW thermal power plant in Churk along with an 11.49% stake in Prayagraj Power Generation Company Limited for ₹1,200 Cr, as part of the NCLT-approved resolution plan for Jaiprakash Associates Limited. The acquisitions are in cash, expected to close within 90 days from the NCLT approval date of March 17, 2026, and have already received Competition Commission of India approval. While the acquisitions align with Adani Power's core business, JPVL's turnover declined from ₹715,100 L in FY2023-24 to ₹570,630 L in FY2024-25, indicating recent financial stress.

• · The acquisitions are part of the resolution plan submitted by Adani Enterprises Limited and approved by NCLT Allahabad bench on March 17, 2026, with a clarificatory order on May 8, 2026, and upheld by NCLAT on May 4, 2026.
• · JPVL was incorporated on December 21, 1994, and operates three power plants (2,220 MW aggregate capacity) and a 2 MTPA cement grinding unit.
• · JPVL's turnover declined 20.2% from FY2023-24 (₹715,100 L) to FY2024-25 (₹570,630 L), though it recovered slightly to ₹579,085 L in FY2025-26 (flat growth of 1.48%).
• · The acquisition is not classified as a related party transaction.
• · The effective date for consummation is within 90 days from March 17, 2026.

21-05-2026

This is a disclosure under SEBI (SAST) Regulations, 2011, specifically Regulation 29(2), filed by Westlife Foodworld Ltd. The disclosure is made by Horizon Impex Pvt Ltd, indicating a change in shareholding or acquisition of shares. The filing is purely procedural and does not contain any details on deal structure, valuation, or strategic rationale. No financial metrics, transaction values, or share counts are disclosed in this filing.

• · The filing is made under Regulation 29(2) of SEBI SAST Regulations, which typically requires disclosure when an acquirer's shareholding crosses certain thresholds (e.g., 5%, 10%, 14%, etc.) or when there is a change in control.
• · The acquirer is Horizon Impex Pvt Ltd, a private limited company.
• · No details on the number of shares acquired, price, or resulting shareholding percentage are provided in this filing.

21-05-2026

Juniper Hotels Limited has approved the acquisition of 100% equity share capital of Juniper Hospitality Assets Private Limited (JHAPL) for a cash consideration of ₹1,00,000 (Rupees One Lakh only) plus stamp duty/transaction charges. JHAPL, incorporated on March 17, 2026, holds a land parcel in Sector 23, Dwarka, New Delhi for developing a 5-star hotel project under a Letter of Award from the Delhi Development Authority. The acquisition is a related party transaction (due to common directors/promoters) but is not material under SEBI LODR, and JHAPL has zero revenue and PAT to date.

• · JHAPL was incorporated on March 17, 2026, and has no revenue or PAT for the period under review.
• · The acquisition is a related party transaction due to common directors/promoters (Arun Kumar Saraf and Varun Saraf) but is not material under SEBI LODR, so no shareholder approval is required.
• · The land parcel is approximately 2.524 acres in Sector 23, Dwarka, New Delhi, licensed by DDA.
• · The consideration is cash-based; no share swap or other forms are involved.

21-05-2026

Kirloskar Electric Company Limited (KECL) has received the NCLT Bengaluru Bench order dated April 30, 2026 approving the merger by absorption (amalgamation) of its four wholly owned subsidiaries — KELBUZZ Trading Private Limited, Luxquisite Parkland Private Limited, SLPKG Estate Holdings Private Limited, and SKG Terra Promenade Private Limited — into itself. The appointed date for the scheme is April 1, 2024, and no shares will be issued as consideration since the subsidiaries are wholly owned; the shares held by KECL in these transferor companies will be cancelled. However, the filing highlights several concerns: the transferor companies have been loss-making, the transferee company has significant outstanding statutory dues (₹607.48 lakh) and undisputed dues under MSME Act (₹670.79 lakh), and an inquiry under Section 206(4) of the Companies Act is pending against the transferee company.

• · The appointed date for the scheme is April 1, 2024.
• · The four transferor companies were incorporated in December 2014 as private limited companies and were special purpose vehicles (SPVs) for restructuring of loans availed from lenders in FY 2014-15.
• · No shares will be issued as consideration because the transferor companies are wholly owned subsidiaries; shares held by KECL will be automatically cancelled on the effective date.
• · The transferee company has open charges and must obtain No Objection Certificates from concerned charge holders before the scheme is allowed.
• · The transferee company has common directors with the transferor companies.
• · An inquiry under Section 206(4) of the Companies Act was conducted against the transferee company, and follow-up action is pending independent of this scheme.
• · A complaint by the erstwhile company secretary of the transferee company regarding resignation in the company and its subsidiaries is pending examination by RoC.
• · The transferor companies are loss-making entities while the transferee company is a profit-making entity (as per latest audited financials for year ending 31/03/2024).
• · The Income Tax Department did not submit any report/comments despite notice, and the NCLT was asked to obtain consent/NOC from IT Department before allowing the scheme.

21-05-2026

Eicher Motors Ltd (EML) has approved an investment of up to ₹750 Crore to acquire a 50% equity stake in Volvo Financial Services (India) Private Limited (VFS India), forming a 50:50 joint venture with the Volvo Group to serve as a captive financing arm. VFS India reported AUM of ₹1825 Crore and turnover of ₹174.98 Crore for FY2025-26, but this turnover declined from ₹194.55 Crore in the prior year, indicating a YoY dip of ~10%. The transaction is subject to RBI approval and is expected to close by December 2026.

• · The joint venture will operate as a middle-layer non-deposit taking NBFC already registered with RBI.
• · VFS India was incorporated on January 13, 2015 and started NBFC operations in FY2015-16.
• · EML will have the right to nominate the Managing Director and Deputy CFO; Volvo will nominate CEO, CFO and CRO.
• · Board Chairman role will rotate between EML and Volvo every 3 years.
• · A 5-year lock-in period for share transfers applies to both parties, subject to exceptions.
• · The transaction is a related party transaction because VFS India is a related party of VECV (subsidiary of EML); however, it is stated to be at arm's length.
• · The investment is via subscription to fresh equity shares; the exact per-share price will be determined at closing.

21-05-2026

Valplast Technologies Limited filed a revised declaration under Regulation 31(4) of the SEBI Takeover Code for FY ended March 31, 2026, correcting typographical errors in the names of certain promoters and promoter group members. The filing confirms that no promoter or promoter group member has created any encumbrance on their shares during the financial year, with only two promoters holding shares: Mr. Sanjay Kumar (74,99,966 shares, 38.21%) and Mr. Rajeev Tyagi (49,99,897 shares, 25.47%). All other 23 promoter group members hold nil shares.

• · The filing corrects earlier inadvertent name errors: 'Sajeev Kumar' corrected to 'Sanjay Kumar', 'Ram Nayak Singh' to 'Ram Layak Singh', 'Abhjishek Kumar Goutam' to 'Abhishek Kumar Gautam', and 'Mrs. Geeta Tyagi' to 'Mrs. Geeta Rani'.
• · No encumbrances were created on promoter shares during FY ended March 31, 2026.
• · Only two promoters hold shares; all 23 promoter group members hold zero shares.

21-05-2026

Datamatics Global Services Limited reported mixed financial results for Q4 and FY ended March 31, 2026. On a consolidated basis, revenue grew 15.3% YoY to ₹1,987.15 Cr for FY26, but net profit attributable to owners declined 5.3% to ₹194.21 Cr. The Board approved a scheme of amalgamation to merge wholly owned subsidiaries Dextara Digital Private Limited and Datamatics Cloud Solutions Private Limited into the company, effective April 1, 2026, with no share issuance. A final dividend of ₹5 per share (100%) was recommended.

• · Consolidated total comprehensive income for FY26 was ₹215.10 Cr, up from ₹166.88 Cr in FY25, a 28.9% increase.
• · Standalone total comprehensive income for FY26 was ₹79.79 Cr, up from ₹50.67 Cr in FY25, a 57.5% increase.
• · Consolidated basic EPS for FY26 was ₹32.86, down from ₹34.71 in FY25, a 5.3% decline.
• · Standalone basic EPS for FY26 was ₹15.13, up from ₹9.37 in FY25, a 61.5% increase.
• · The scheme of amalgamation has an appointed date of April 1, 2026, and is subject to NCLT, shareholder, and creditor approvals.
• · Dextara Digital Private Limited had revenue of ₹26.77 Cr and net worth of ₹23.29 Cr as of March 31, 2026.
• · Datamatics Cloud Solutions Private Limited had nil revenue and net worth of ₹38,053 as of March 31, 2026.
• · The Board approved re-appointment of Rahul L. Kanodia as Vice Chairman & CEO for 5 years from February 22, 2027 to February 21, 2032.
• · Postal ballot notice includes special resolutions to appoint Hitesh Gajaria and Navnit Singh as Non-Executive Independent Directors for 5 years from May 8, 2026.
• · Internal auditors M/s. Ajmera & Ajmera were re-appointed for FY 2026-27.

21-05-2026

Hindustan Foods Limited (HFL) has allotted 4,81,39,085 equity shares to shareholders of Avalon Cosmetics Private Limited and Vanity Case India Private Limited following a sanctioned Scheme of Arrangement. However, due to cross-holding cancellation of 4,64,58,145 shares held by VCIPL in HFL, the net increase in equity capital is modest — from ₹23,89,63,524 to ₹24,23,25,404 (a ~1.4% increase in shares outstanding). A Fractional Shares Trust has been created with Axis Trustee Services Limited to hold and sell fractional entitlement shares for the benefit of entitled shareholders.

• · The Scheme was sanctioned by the Hon'ble National Company Law Tribunal, Mumbai Bench on February 25, 2026.
• · Record Date for determining entitled shareholders was May 8, 2026.
• · The fractional entitlements for both Demerged Company and Transferor Company shareholders have been pooled into a trust with Axis Trustee Services Limited as Trustee, which will sell the shares and distribute net proceeds to entitled shareholders.
• · The newly allotted shares rank pari passu with existing shares in all respects including dividend entitlement.
• · The Share Allotment Committee meeting was held on May 21, 2026 from 5:00 PM to 6:00 PM.
• · Despite 4.81 Cr shares allotted, net increase in total shares outstanding is only ~16.8 lakh shares (from 11,94,81,762 to 12,11,62,702) due to the cancellation of 4.64 Cr cross-held shares.
• · Cancellation of cross-held shares occurred as per Clauses 19 and 21 of the Scheme.

21-05-2026

TVS Supply Chain Solutions Limited (TVS SCS) has allotted equity shares to its wholly owned subsidiary FIT 3PL Warehousing Private Limited (FIT 3PL) for a cash consideration of ₹59.56 Crore at ₹2,700 per share, acquiring 2,20,609 equity shares (100% shareholding). The investment aims to facilitate business growth in the logistics industry, with completion expected by September 2027. However, FIT 3PL's turnover has declined over the last three years, from ₹160.38 Crore in FY23 to ₹133.18 Crore in FY25, indicating a downward trend.

• · FIT 3PL was incorporated on February 4, 1997.
• · The transaction is not a related party transaction and is at arm's length.
• · No governmental or regulatory approvals are required for the acquisition.
• · The acquisition is expected to be completed by September 2027.
• · The promoters/promoter group does not have any interest in the transaction.

21-05-2026

Allied Blenders and Distillers Limited (ABDL) announced the incorporation of a wholly owned overseas subsidiary in the United Kingdom, named 'ABD UK Ltd' or with 'ABD' as a prefix. The initial capital contribution is 100 GBP. The subsidiary will engage in distilling, blending, trading, warehousing, and wholesale of alcoholic beverages.

• · The subsidiary will be 100% owned by ABDL.
• · The subsidiary's business includes distilling, rectifying, blending of spirits, trading, warehousing, manufacturing of beer, and wholesale of wine, beer, spirits, and other alcoholic beverages.
• · No governmental or regulatory approvals are required for the incorporation.
• · The board meeting started at 3:00 PM IST and concluded at 5:05 PM IST on May 21, 2026.

21-05-2026

iCODEX PUBLISHING SOLUTIONS LIMITED filed a disclosure under Regulation 31(4) of SEBI (SAST) Regulations, 2011 confirming that the Promoters and Persons Acting in Concert (PAC) have not created any encumbrance on their shares during the financial year ended March 31, 2026. The disclosure was signed by Kamalakkannan Govindaraj, Managing Director.

• · Disclosure filed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011
• · No encumbrance created on promoter-held shares during FY ended March 31, 2026
• · Filing date: May 12, 2026 (published May 21, 2026)
• · Company scrip code: 544483, ISIN: INE111601014
• · Registered office: VistaCore Bldg, 3rd floor, plot No 29, Kalyani Nagar, Pune, 411006

21-05-2026

IDream Film Infrastructure Company Ltd. has acquired 100% stake in E-Tunnel Inc., a South Korean biometric authentication hardware developer, via a share swap. The board allotted 2,664,03,280 equity shares (₹10 each) valued at ₹2,66,40,32,800 (₹26,640.32 Lakh) to acquire 22,01,680 shares (face value 500 KRW each) of E-Tunnel. While the acquisition provides entry into the high-growth biometric security market with patented finger-vein technology, E-Tunnel's turnover has shown volatility, declining from ₹48.31 Crore in CY 2023 to ₹21.14 Crore in CY 2024, though it recovered to ₹27.20 Crore in CY 2025.

• · The acquisition is not a related-party transaction and was done at arm's length based on an independent valuation.
• · E-Tunnel's patents cover Korea, the U.S., Europe, and Japan.
• · The transaction was completed on the same day (May 21, 2026).
• · No cash outflow involved; consideration is entirely share swap.

21-05-2026

Bikaji Foods International Limited announced several strategic initiatives at its Board meeting on May 21, 2026, including the acquisition of a 74% stake in Jai Barbareek Dev Snacks Private Limited (JBDSPL) for ₹1,48,000 (14,800 equity shares at ₹10 each), an additional investment of up to $50,00,000 in its wholly-owned US subsidiary, and up to ₹5,00,00,000 in Bikaji Bakes Private Limited via OCDs. The Board also recommended the re-appointment of key directors, including Chairman & MD Deepak Agarwal for a further three-year term, and designated three new Senior Management Personnel. No financial performance data was provided in this filing, so period-over-period comparisons are not applicable.

• · The Board recommended re-appointment of Mr. Deepak Agarwal as Chairman & MD for 3 years from Feb 1, 2027 to Jan 31, 2030.
• · The Board recommended re-appointment of Mrs. Shweta Agarwal as Whole-Time Director for 3 years from Feb 1, 2027 to Jan 31, 2030.
• · The Board recommended re-appointment of three Independent Directors (Nikhil Vora, Pulkit Bachhawat, Richa Goyal) for second terms of 5 years from Dec 8, 2026 to Dec 7, 2031.
• · The Board recommended re-appointment of Independent Director Siraj Chaudhry for a second term of 5 years from Aug 24, 2026 to Aug 23, 2031.
• · All recommended directors have not been debarred or disqualified by SEBI or any other authority.
• · Three new Senior Management Personnel were designated: Sameer Bhadauria, Amrit Chaudhary, and Simran Dhingra.
• · A corporate guarantee of up to ₹59,00,00,000 was issued to HDFC Bank on behalf of JBDSPL (post-acquisition).
• · A corporate guarantee of up to ₹5,00,00,000 was issued to HDFC Bank on behalf of Bhujialalji Private Limited.

21-05-2026

Allcargo Terminals Limited reported audited standalone financial results for Q4 and FY ended March 31, 2026. Revenue from operations grew 16.3% YoY to ₹146.56 Cr in Q4 and 9.8% YoY to ₹564.20 Cr for the full year. However, net profit declined 30.5% YoY to ₹14.76 Cr in Q4 and 25.0% YoY to ₹39.70 Cr for FY26, impacted by higher finance costs and other expenses. The Board also approved the acquisition of a 25% stake in Allcargo Group Services Private Limited (related party) for 2 equity shares.

• · Auditors issued an unmodified opinion on the standalone financial results for FY26.
• · Board appointed Mr. Shashi Kiran Shetty as Additional Non-Executive, Non-Independent Director (subject to member approval).
• · Board reconstituted the Nomination and Remuneration Committee and Risk Management Committee.
• · Board approved reallocation of funds raised from the Rights Issue.
• · Total equity increased from ₹259.98 Cr (March 31, 2025) to ₹356.88 Cr (March 31, 2026).
• · Total assets grew from ₹815.98 Cr to ₹967.11 Cr year-over-year.
• · Non-current borrowings stood at ₹0 as at March 31, 2026, down from ₹102.12 Cr a year ago.
• · Right-of-use assets increased sharply from ₹311.59 Cr to ₹450.28 Cr.
• · Basic EPS for Q4 FY26 was ₹0.51 vs ₹0.43 in Q4 FY25; diluted EPS was ₹0.48 vs ₹0.43.
• · Basic EPS for FY26 was ₹1.44 vs ₹2.02 in FY25; diluted EPS was ₹1.40 vs ₹2.02.
• · Deferred tax credit of ₹5.52 Cr in Q4 FY26 (vs charge of ₹4.59 Cr in Q4 FY25) boosted net profit.
• · Other comprehensive loss was ₹0.11 Cr in Q4 FY26 (vs ₹0.22 Cr loss in Q4 FY25).

21-05-2026

Adani Ports and Special Economic Zone Limited has completed the acquisition of 100% of the shareholding of Jaypee Fertilizers & Industries Limited from Jaiprakash Associates Limited, as per the Share Purchase Agreement and approved resolution plan. The consummation occurred on May 21, 2026. No financial details or performance metrics were disclosed in this filing.

• · The acquisition was completed under the terms of the Share Purchase Agreement (JFIL SPA) and the approved resolution plan for Jaiprakash Associates Limited.
• · The filing references an earlier intimation dated May 21, 2026, regarding the signing of the SPA.

21-05-2026

Thakral Services (India) Ltd filed a disclosure under SEBI SAST Regulation 10(6) on May 21, 2026, regarding Netizen Properties Pvt Ltd's acquisition of shares. However, the filing contains no details on deal size, valuation, swap ratio, financial metrics, shareholding changes, or strategic rationale. Only the regulatory event is confirmed, with all quantitative and qualitative specifics undisclosed.

• · Filing date: May 21, 2026
• · Regulation triggered: SEBI SAST Regulation 10(6) - which requires disclosure when acquirer's shareholding reaches or crosses certain thresholds (typically 5%, 10%, 14%, 54%, 74%)
• · Acquirer: Netizen Properties Pvt Ltd - no further details provided about this entity
• · Target: Thakral Services (India) Ltd - a technology sector company listed on BSE with scrip code 509015

21-05-2026

Robust Marketing Services Private Limited, a promoter group entity, acquired a total of 92,000 equity shares of Deepak Fertilisers and Petrochemicals Corporation Limited through open market purchases between March 15-19, 2024, increasing its stake from 8.5967% to 8.6696%. The acquisitions were disclosed under SEBI Takeover Regulations.

• · Acquisition dates: March 15, 18, and 19, 2024.
• · First tranche: 30,000 shares (0.0238%) on March 15.
• · Second tranche: 31,000 shares (0.0246%) on March 18.
• · Third tranche: 31,000 shares (0.0246%) on March 19.
• · Total shares held after acquisitions: 1,09,44,301 (8.6696%).
• · Disclosures filed on March 19, 20, 21, and 22, 2024.

21-05-2026

The filing is a disclosure under SEBI (SAST) Regulation 29(2) for Sanjay Namdeo Salunkhe regarding Jaro Institute of Technology Management and Research Ltd. No deal structure, valuation, financial metrics, or strategic rationale are disclosed in the filing. The disclosure is purely regulatory and provides no quantitative data or transaction details.

21-05-2026

The filing is a disclosure under SEBI (SAST) Regulation 29(2) for Punita Sharma and her PACs regarding Bliss GVS Pharma Limited. No specific deal structure, valuation, or strategic rationale is provided in the filing. The event is classified as a merger/acquisition but the filing only contains a regulatory disclosure without any financial or transactional details.

21-05-2026

Bluspring Enterprises Limited, through its wholly-owned subsidiary Bluspring New Horizon One Private Limited (BNHOPL), has completed the acquisition of 100% of STEAG Energy Services (India) Private Limited (SESI) from STEAG Power GmbH. The acquisition, which was initially announced on March 19, 2026, was completed on May 21, 2026, after all conditions precedent were satisfied, and SESI is now a wholly-owned step-down subsidiary of Bluspring Enterprises Limited. The transaction is not a related party transaction; no promoter/promoter group entities have any interest in the involved entities.

• · The Share Purchase Agreement was originally dated March 19, 2026
• · The acquisition is 100% of paid-up share capital on a fully diluted basis
• · SESI has become a wholly-owned step-down subsidiary effective May 21, 2026
• · This is not a related party transaction
• · No promoter/promoter group/group companies have any interest in the entities involved
• · Further details were previously disclosed in the March 19, 2026 letter

21-05-2026

Aditya Birla Fashion and Retail Limited (ABFRL) has increased its stake in subsidiary Indivinity Clothing Retail Private Limited (ICRPL) from 85.54% to 89.29% by subscribing to a rights issue of 3,65,19,197 equity shares for a total consideration of approximately ₹175 crore. ICRPL, which operates the bespoke ethnic wear brand 'Tasva', reported a turnover of ₹144.24 crore for FY25, up from ₹100.06 crore in FY24 and ₹49.29 crore in FY23, showing strong growth. The acquisition is a cash transaction and does not require governmental approvals.

• · ICRPL was incorporated on March 3, 2021.
• · ICRPL's paid-up share capital as of FY25 was ₹104.34 crore.
• · The acquisition was completed on May 20, 2026.
• · Consideration was paid via cash through normal banking channels.
• · The transaction does not fall under related party transaction rules despite ICRPL being a related party.

21-05-2026

Promoter group entities Equilibrated Venture Cflow (P) Ltd. and Pri Caf Private Limited acquired additional equity shares in Paisalo Digital Limited through open market purchases on May 19 and May 20, 2026. Equilibrated Venture Cflow increased its stake from 20.7185% to 20.9517%, while Pri Caf increased from 2.8282% to 2.9437%. The acquisitions are part of routine promoter group transactions and do not trigger a change in control.

• · Total equity shares of Paisalo Digital Limited: 90,95,21,874 shares of Re. 1 each.
• · Equilibrated Venture Cflow held 18,84,38,880 shares (20.7185%) before May 19 acquisition; after May 20 acquisition holds 19,05,59,880 shares (20.9517%).
• · Pri Caf Private Limited held 2,57,23,400 shares (2.8282%) before May 19 acquisition; after holds 2,67,73,400 shares (2.9437%).
• · All acquisitions were made in open market.
• · Disclosures filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.

21-05-2026

Modern Diagnostic & Research Centre Ltd disclosed that its promoters and promoter group held 1,09,99,978 equity shares (72.85% of total share capital) as of March 31, 2026, and confirmed no encumbrance was created on these shares during the financial year ended March 31, 2026. The filing is a routine annual disclosure under SEBI Takeover Regulations, with no acquisition or change in shareholding reported.

• · No encumbrance was created on promoter shares during FY ended March 31, 2026.
• · Filing made under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
• · Scrip Code: 544673

21-05-2026

Magellanic Cloud Limited has incorporated a Special Purpose Vehicle (SPV) named MCRAY XTEND INDIA PRIVATE LIMITED in joint venture with Rayonix Tech Private Limited, and will acquire a 60% stake in the SPV for a cash consideration of ₹6,00,000 (6,00,000 equity shares at ₹10 face value each). The SPV will focus on unmanned aerial vehicle (UAV) technology, defence technology solutions, manufacturing, and deployment. The transaction is not a related party transaction and is aligned with the company's strategic expansion in the defence and indigenous technology sector.

• · The SPV was incorporated on May 21, 2026, following an earlier intimation on April 28, 2026.
• · The acquisition is a cash consideration of ₹6,00,000 for 6,00,000 equity shares at face value of ₹10 each.
• · The transaction does not fall within the purview of related party transactions.
• · No promoter/promoter group/group companies have any interest in MCRAY Private Limited except through their shareholding in Magellanic Cloud Limited.
• · The SPV will focus on UAV, autonomous systems, surveillance, reconnaissance, security, and defence technology related business activities.
• · The acquisition is subject to applicable statutory and regulatory approvals including the Ministry of Corporate Affairs.

21-05-2026

Nucleus Software Exports Limited announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, with the statutory auditors issuing an unmodified opinion. The Board recommended a final dividend of ₹12.50 per equity share (125% of face value) for FY2025-26, subject to shareholder approval. Additionally, the Board approved the re-appointment of Mr. Vishnu R Dusad as Managing Director for a five-year term from January 1, 2027 to December 31, 2031.

• · The Board meeting commenced at 10:00 AM and concluded at 14:50 PM on May 21, 2026.
• · The company has 9 subsidiaries including entities in Singapore, USA, Japan, Netherlands, UK, Australia, South Africa, and Vietnam.
• · The statutory auditors issued an unmodified (clean) audit opinion on both standalone and consolidated annual financial results.
• · The re-appointment of Mr. Vishnu R Dusad as Managing Director is subject to shareholder approval at the ensuing Annual General Meeting.
• · The company amended its Whistle Blower Policy, effective from the board meeting date.