Executive Summary
The 39 filings for May 27, 2026, reveal a surge in corporate actions within the Indian technology and related sectors, driven by strategic acquisitions, promoter stake adjustments, and regulatory approvals.
A key theme is the aggressive expansion into renewable energy and ancillary services, with companies like Carborundum Universal, South India Paper Mills, and Advait Energy Transitions making targeted investments to secure green power and enter new sub-sectors like Battery Energy Storage Systems (BESS). Insider activity is mixed; while some promoters are increasing stakes (Paisalo Digital, Premier Polyfilm), others are reducing exposure (Siyaram Recycling Industries), and a significant insider sale by a non-promoter in Family Care Hospitals warrants attention. Capital allocation is shifting towards growth investments, with Physicswallah injecting INR 120 Cr into its NBFC arm and RDB Infrastructure forfeiting a large warrant conversion, signaling unmet capital expectations. The most material developments include the change in control at Lykis Limited (67.17% stake acquisition), the CCI approval for EPL's merger, and the NCLT-sanctioned demerger of Wim Plast Ltd., all of which create significant restructuring catalysts. Overall, the period is characterized by a high volume of M&A and fundraising activity, with a notable tilt towards energy transition and financial services, but with several filings lacking critical deal details, requiring investors to seek further clarity.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: M&A
Tracking the trend? Catch up on the prior India Technology Sector Merger & Acquisition Filings digest from May 26, 2026.
Investment Signals (10)
- Lykis Limited ↓ (BULLISH)▲
A new promoter group acquired a 67.17% controlling stake via an off-market purchase and open offer, completed on May 25, 2026. This signals a complete change in control and a potential turnaround story, as the new promoters (Parshav Vatika LLP & PACs) are likely to bring a fresh strategic vision.
- EPL Limited ↓ (BULLISH)▲
Received CCI approval for the merger of Indovida India Private Limited on May 26, 2026. This removes a key regulatory hurdle, de-risking the merger and paving the way for operational synergies and cost savings.
- Carborundum Universal Limited ↓ (BULLISH)▲
Completed the acquisition of a 29.58% stake in Putrim Renewables Private Limited for INR 6.48 Cr, following a Power Purchase Agreement. This strategic move into renewable energy provides a long-term hedge against power costs and aligns with ESG goals.
- Siyaram Recycling Industries Limited ↓ (BEARISH)▲
Mukul Agrawal and Param Value Investments reduced their combined stake by 4.647% (10,12,500 shares) between April 23 and May 25, 2026, dropping from 6.138% to 1.492%. This significant insider selling signals a lack of confidence and is a strong bearish indicator.
- Physicswallah Limited ↓ (BULLISH)▲
Approved a INR 120 Cr investment in its wholly owned NBFC subsidiary, FinZ Finance, to scale operations. While the subsidiary has negligible current revenue (INR 0.01 Mn in FY26), this large capital infusion signals a high-conviction pivot into the fintech lending space.
- Mphasis Limited ↓ (MIXED)▲
Promoter BCP Topco IX Pte. Ltd. refinanced its USD 1.1B facility with a new USD 550M facility, pledging 100% of its Mphasis shares (30.55% of total capital). The halving of the debt facility reduces financial risk, but the 100% pledge of promoter holdings is a key risk factor to monitor.
- Premier Energies Limited ↓ (BULLISH)▲
An acquisition by Surenderpal Singh Saluja & Others was disclosed. Given the company's core business in solar energy, this could signal consolidation or a strategic investment in the high-growth solar sector, though deal details are lacking.
- Central Bank of India ↓ (BULLISH)▲
The Government of India sold 8.08% of its stake via an OFS, reducing its holding from 89.21% to 81.19%. This is a significant step towards the government's disinvestment target and improves the stock's public float and liquidity.
- Paisalo Digital Limited ↓ (BULLISH)▲
Promoter Sunil Purushottanm Agarwal acquired 12,81,000 shares (0.14% of voting capital) on May 27, 2026, via open market. This consistent insider buying signals promoter confidence in the company's growth trajectory.
- RDB Infrastructure and Power Limited ↓ (BEARISH)▲
The forfeiture of 1,78,00,000 warrants (including 1.5 Cr from Multitude Growth Funds) due to non-exercise of conversion is a major red flag, indicating that large investors saw limited upside or had liquidity issues.
Risk Flags (8)
- Siyaram Recycling Industries / Insider Selling↓ [HIGH RISK]▼
Mukul Agrawal and PACs sold 4.647% of their stake over a month, a massive reduction that could signal fundamental concerns or a loss of conviction in the company's prospects.
- RDB Infrastructure / Warrant Forfeiture↓ [HIGH RISK]▼
The forfeiture of 1,78,00,000 warrants (worth ~INR 54 Cr at conversion price) by major allottees, including Multitude Growth Funds, indicates a severe failure of a planned capital raise and potential liquidity or confidence issues.
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Acquiring a 66.66% stake in Lifesenz Cancer Research Labs (a related party) for INR 20 Cr, despite the target having a negative net worth of INR (221.84) Lakhs and a net loss of INR (74.76) Lakhs. This raises serious corporate governance and valuation concerns.
- Mphasis / Promoter Pledge↓ [MEDIUM RISK]▼
The promoter has pledged 100% of its 30.55% stake in Mphasis as collateral for the new USD 550M facility. Any decline in Mphasis's stock price could trigger margin calls, leading to forced selling and downward pressure on the stock.
- NRB Bearing / High Promoter Encumbrance↓ [MEDIUM RISK]▼
Despite a partial pledge release, 31.71% of promoter holdings remain encumbered. The significant over-collateralization (4.53:1) suggests the promoters are highly leveraged, posing a risk if the stock price falls.
- South India Paper Mills / Declining Target Revenue↓ [MEDIUM RISK]▼
The target company, Clean Wind Power (Manvi), has seen its revenue decline by 28.6% over the last three years (from INR 85.4 Cr to INR 60.9 Cr). The strategic rationale for the acquisition (securing wind power) is sound, but the target's financial health is deteriorating.
- Family Care Hospitals / Insider Selling↓ [LOW RISK]▼
Dr. Sowmya Deshpande, a non-promoter shareholder with a 7.1% stake, sold 0.28% of the company's shares over four days. While not a promoter, a large shareholder reducing their position is a negative signal.
- Multiple Filings / Lack of Deal Details [MEDIUM RISK]▼
A significant number of filings (e.g., Prataap Snacks, G R Infraprojects, Savita Oil) are purely regulatory disclosures under SAST with no financial details, valuation, or strategic rationale. This opacity prevents proper assessment of materiality and creates information asymmetry.
Opportunities (8)
- Lykis Limited / Change in Control↓ (OPPORTUNITY)◆
The acquisition of a 67.17% stake by a new promoter group creates a classic turnaround opportunity. Investors should analyze the new promoters' track record and business plan for Lykis, as a successful restructuring could lead to significant value creation.
- EPL Limited / Merger Synergies↓ (OPPORTUNITY)◆
With CCI approval secured, the merger of Indovida India is on track. The combined entity can realize operational efficiencies, cost savings, and a stronger market position. The detailed CCI order will provide further clarity on the timeline.
- Carborundum Universal / Renewable Energy Play↓ (OPPORTUNITY)◆
The 29.58% stake in Putrim Renewables provides exposure to the growing renewable energy sector without the risks of a full acquisition. The PPA ensures a captive power source, reducing energy cost volatility.
- Physicswallah / Fintech Pivot↓ (OPPORTUNITY)◆
The INR 120 Cr investment in its NBFC arm is a high-conviction bet on the fintech lending space. If FinZ Finance can scale successfully, it could become a significant value driver for Physicswallah, diversifying its revenue beyond edtech.
- Central Bank of India / Increased Float↓ (OPPORTUNITY)◆
The government's 8.08% stake sale via OFS significantly increases the stock's liquidity and public float. This can lead to higher institutional interest and potentially a re-rating as the stock becomes more investable.
- Wim Plast Ltd. / Demerger Value Unlock↓ (OPPORTUNITY)◆
The NCLT-sanctioned demerger will result in Wim Plast's dissolution, with shareholders receiving shares of Cello World Limited. The Record Date is June 9, 2026. This is a direct value-unlock event for WPL shareholders.
- Paisalo Digital / Promoter Buying↓ (OPPORTUNITY)◆
The consistent open-market purchases by promoter Sunil Purushottanm Agarwal signal strong insider conviction. This is a positive indicator for long-term investors, suggesting the stock is undervalued at current levels.
- Advait Energy Transitions / BESS Entry↓ (OPPORTUNITY)◆
The incorporation of a subsidiary focused on Battery Energy Storage Systems (BESS) positions the company in a high-growth, future-oriented segment of the energy transition. This could be a significant long-term growth driver.
Sector Themes (6)
- Energy Transition M&A◆
A clear theme is the strategic pivot towards renewable energy and ancillary services. Carborundum Universal (solar stake), South India Paper Mills (wind power), and Advait Energy Transitions (BESS) are all making targeted investments to secure green energy and enter new sub-sectors. This reflects a broader corporate trend of integrating sustainability into core operations.
- Insider Activity Divergence◆
Insider behavior is sharply divided. Promoters in Paisalo Digital and Premier Polyfilm are increasing stakes, signaling confidence. Conversely, significant insider selling in Siyaram Recycling and a large non-promoter sale in Family Care Hospitals indicate pockets of concern. This divergence suggests a stock-specific rather than a sector-wide sentiment.
- Capital Raising Challenges◆
The forfeiture of 1.78 Cr warrants by RDB Infrastructure highlights the risks of capital raising in a volatile market. While some companies are successfully raising funds (Physicswallah's INR 120 Cr investment), others are facing unmet expectations, indicating selective investor appetite.
- Regulatory Approvals as Catalysts◆
Several filings highlight the importance of regulatory milestones. EPL's CCI approval and Wim Plast's NCLT order are key de-risking events that unlock value and provide clear timelines for corporate actions. Investors should track pending approvals as potential catalysts.
- Related Party Transactions Under Scrutiny◆
The Hemant Surgical acquisition of a loss-making, negative-net-worth entity from its own promoters is a red flag for corporate governance. This theme underscores the need for investors to scrutinize related-party deals, especially when the target's financials are weak.
- Consolidation in Financial Services◆
Paisalo Digital's promoter buying and Physicswallah's large investment in its NBFC arm point to a trend of consolidation and scaling in the financial services space, particularly in niche lending and fintech. This suggests a bullish outlook on credit growth in India.
Watch List (8)
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The Record Date for allotment of Cello World shares is June 9, 2026. Shareholders must be on the register by this date to benefit from the demerger. This is a time-sensitive event for arbitrage and value-unlock opportunities.
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The detailed order from the CCI is awaited. This will provide the exact conditions and timeline for the merger of Indovida India, which is critical for assessing the deal's completion and synergy realization.
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The 100% promoter pledge is a key risk. Investors should monitor Mphasis's stock price closely. A significant decline could trigger margin calls, leading to forced selling by the promoter.
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The new promoters (Parshav Vatika LLP) will need to announce their vision and strategy for Lykis. Watch for any corporate restructuring, asset sales, or new business plans that will define the company's future direction.
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The related-party acquisition of a loss-making entity is likely to face scrutiny from minority shareholders. Watch for any shareholder activism, legal challenges, or demands for a vote on the transaction.
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After the major warrant forfeiture, the company will need to find alternative sources of capital. Watch for announcements of new fundraising plans, debt arrangements, or asset sales to address the funding gap.
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The significant stake reduction by Mukul Agrawal and PACs could be a precursor to a complete exit. Monitor for any further disclosures of stake sales, which would be a strong negative signal.
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The INR 120 Cr investment is a major bet. Watch for quarterly updates from FinZ Finance on loan book growth, asset quality, and profitability to assess the success of this fintech pivot.
Filing Analyses
(39)
27-05-2026
The filing is a regulatory disclosure under SEBI (SAST) Regulation 29(2) regarding a substantial acquisition. Authum Investment & Infrastructure Ltd has reported an acquisition in Prataap Snacks Ltd. However, the filing contains no financial details, deal value, share count, or strategic rationale. The emails and sector classification are inconsistent (company is snacks/food, filing lists 'technology'), and no specific quantitative data beyond the event's existence is available.
- · Filing date: May 27, 2026
- · Exchange: BSE
- · Security ID: 540724 (Prataap Snacks Ltd)
- · Event type: Disclosures under Reg. 29(2) of SEBI (SAST)
- · Acquirer: Authum Investment & Infrastructure Ltd
- · Sector classification (as per filing header): 'technology' – this appears to be a miscategorization; Prataap Snacks is in the FMCG/snack foods sector
27-05-2026
G R Infraprojects Limited has disclosed a filing under SEBI (SAST) Regulations, 2011, Regulation 29(2), by Harish Kumar Agarwal and his PACs. While the filing confirms a disclosure event, the filing summary contains no details on the deal structure, valuation, rationale, or shareholding changes. The sector is listed as 'technology', but G R Infraprojects is an infrastructure/E&C company, which may be a tagging error. Likely this is an acquisition of shares triggering a mandatory disclosure rather than a merger or demerger.
27-05-2026
Trilochan Singh Sahney Trust 1, a promoter of NRB Bearings Limited, reported the release of 13,83,839 pledged equity shares (1.43% of total share capital) on May 27, 2026, following prepayment of a loan, with the shares released by Aditya Birla Capital Limited. Additionally, the trust sold 48,378 equity shares over May 25-27, 2026. Post-event, total promoter shareholding stands at 49.24% (4,77,21,094 shares), of which 31.71% (3,07,38,681 shares) remain encumbered, indicating that while some pledge was reduced, a significant portion of promoter holdings is still pledged.
- · The release of 13,83,839 shares reduced the encumbered shares from 14,53,839 (1.50%) to 70,000 (0.07%) for Trilochan Singh Sahney Trust 1, but overall promoter encumbrance remains high at 31.71% of promoter holdings.
- · The ratio of security value (Rs. 1187.65 Crore) to amount involved (Rs. 262 Crore) is 4.53:1, indicating significant over-collateralization.
- · The unpledged shares were released by Aditya Birla Capital Limited, a scheduled commercial bank/NBFC.
- · No other promoter or PAC reported any change in encumbrance during the period; all other promoters have nil encumbered shares.
27-05-2026
Sunil Purushottanm Agarwal, a promoter group member, acquired 12,81,000 equity shares (0.1408% of total voting capital) of Paisalo Digital Limited on May 27, 2026 via open market purchase. Post-acquisition, his total holding increased from 12.3354% to 12.4762% of the voting capital.
- · Acquisition was made under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, Regulation 29(2).
- · The acquirer is part of the promoter group.
- · No encumbrances (pledge/lien) were involved in the transaction.
- · The company's total equity share capital is ₹90,95,21,874 divided into 90,95,21,874 equity shares of Re. 1 each.
27-05-2026
T & I Global Ltd. received a disclosure under SEBI SAST Regulation 29(2) from Counter Cylical Investment Pvt Ltd. No deal structure, valuation, or strategic rationale is disclosed in the filing. The filing is purely a regulatory disclosure with no quantitative data on transaction value, share count, or financial metrics.
27-05-2026
DHP India Ltd. filed a disclosure under SEBI SAST Regulation 29(2) regarding Counter Cyclical Investment Pvt Ltd. No financial details, deal structure, or strategic rationale are provided in the filing. The disclosure is informational only.
- · Filing date: May 27, 2026
- · Source: BSE
- · Sector: Technology
27-05-2026
Promoters Sunil Purushottanm Agarwal and Santanu Agarwal, along with PACs, created pledges on 18,00,000 and 9,81,000 shares respectively on May 26-27, 2026, to avail margin trading facility, stating no transfer of ownership or control. Total promoter shareholding is 12.48% of the company, of which 6.86% is now encumbered; however, encumbered shares remain below 50% of promoter holding and below 20% of total share capital.
- · The pledges were created on May 26-27, 2026, with Motilal Oswal Financial Services Limited and Sharekhan Limited as pledgees.
- · Sunil Purushottanm Agarwal's total promoter holding is 11,34,73,800 shares (12.48% of total share capital).
- · Santanu Agarwal's total promoter holding is 4,14,96,000 shares (4.56% of total share capital).
- · PRO FITCCH PVT. LTD. holds 2,60,77,220 shares (2.87% of total share capital).
- · PRI CAF PVT. LTD. holds 2,78,44,400 shares (3.06% of total share capital).
- · EQUILIBRATED VENTURE CFLOW PVT. LTD. holds 19,05,59,880 shares (20.95% of total share capital) with 7,57,05,002 shares encumbered (8.32% of total share capital).
- · All pledges are stated to be for margin trading facility and do not involve transfer of ownership or control.
27-05-2026
Premier Energies Limited filed a disclosure under SEBI (SAST) Regulations, 2011, Regulation 29(2), regarding an acquisition by Surenderpal Singh Saluja & Others. The filing is purely a regulatory disclosure; no deal size, valuation, or strategic rationale is provided. The sector is classified as technology, but the company's primary business (solar energy) suggests a possible misclassification. No financial or operational metrics are disclosed.
- · Filing date: May 27, 2026
- · Source: BSE
- · Disclosure under Regulation 29(2) of SEBI SAST Regulations
- · Acquirer: Surenderpal Singh Saluja & Others
- · Sector classified as 'technology' in the filing, though Premier Energies is primarily a solar energy company
27-05-2026
This filing is a routine disclosure under SEBI (SAST) Regulation 29(2) by Savita Oil Technologies Ltd for Simran G Mehra. No specific details regarding the nature of the transaction (merger, acquisition, or takeover), deal valuation, or strategic rationale are provided in the filing. The information is limited to the regulatory disclosure requirement itself.
- · Filing is under Regulation 29(2) of SEBI SAST, indicating a trigger event (crossing of threshold) has occurred for Simran G Mehra in Savita Oil Technologies.
- · No financial metrics, share counts, or valuation data are provided in the summary.
27-05-2026
The filing is a disclosure under SEBI (SAST) Regulation 29(2) for Swashthik Plascon Ltd, involving Sujathaa Mehta and Persons Acting in Concert (PACs). No specific financial metrics, deal size, valuation, or strategic rationale are disclosed in this regulatory filing. The event is purely a regulatory disclosure of a substantial acquisition of shares, but no quantitative data on transaction value, share count, or financial impact is provided.
27-05-2026
The filing is a disclosure under SEBI (SAST) Regulation 10(6) for Simran G Mehra regarding Savita Oil Technologies Ltd. No details on transaction value, share count, deal structure, or strategic rationale are provided. The filing is purely procedural and contains no financial or operational metrics.
27-05-2026
EPL Limited announced on May 27, 2026 that it has received approval from the Competition Commission of India (CCI) for the merger by absorption of Indovida India Private Limited into EPL Limited. The CCI conveyed its approval on May 26, 2026 under Section 31(1) of the Competition Act, 2002, and the detailed order is awaited.
- · The scheme was originally approved by the Board on March 29, 2026, subject to regulatory approvals.
- · The filing also mentions Indorama Netherlands Private Limited and Indorama B.V. as parties to the combination notice.
- · The CCI approval is under the Competition Act, 2002, Section 31(1), and the detailed order is still awaited.
27-05-2026
Poojawestern Metaliks Ltd filed a disclosure under SEBI SAST Regulation 29(2) on May 27, 2026, regarding Sunil Devram Panchmatiya and his PACs. The filing is purely a regulatory disclosure of acquisition of shares/voting rights; no deal size, valuation, or strategic rationale is provided. The sector is classified as technology, but the company's core business is metal fabrication, creating a sector mismatch.
- · Filing date: May 27, 2026
- · Regulation: SEBI SAST Regulation 29(2)
- · Acquirer: Sunil Devram Panchmatiya & PACs
- · Target: Poojawestern Metaliks Ltd (BSE: 540727)
- · Sector classified as technology in the filing, but company's primary business is metal fabrication
27-05-2026
RateGain Travel Technologies Ltd has received a disclosure under SEBI (SAST) Regulations, 2011 from Sundaram Large & Mid Cap Fund, indicating a substantial acquisition of shares. However, the filing does not disclose the deal size, valuation, or specific shareholding changes, limiting the ability to assess materiality or strategic impact.
27-05-2026
Hemant Surgical Industries Limited has entered into a Share Purchase Agreement to acquire 66.66% equity shareholding of Lifesenz Cancer Research Labs Private Limited for a cash consideration of Rs. 19,99,80,000/- (Rs. Nineteen Crore Ninety-Nine Lakhs Eighty Thousand only). The acquisition is a related party transaction, as existing promoters/directors/shareholders of Lifesenz are also promoters/directors/shareholders of Hemant Surgical, but it is proposed to be undertaken at arm's length based on a registered valuer's report. The target entity, Lifesenz Cancer Research Labs, is engaged in healthcare and cancer diagnostic support services, but it reported a turnover of only Rs. 56.75 Lakhs and a net loss of Rs. (74.76) Lakhs for FY 24-25, with a negative net worth of Rs. (221.84) Lakhs.
- · The acquisition is a related party transaction; existing promoters/directors/shareholders of Lifesenz are also promoters/directors/shareholders of Hemant Surgical.
- · The transaction is proposed at arm's length based on a valuation report from a Registered Valuer.
- · Lifesenz Cancer Research Labs was incorporated on February 28, 2022, and operates in India.
- · The acquisition is expected to be completed on or before September 30, 2026.
- · The target entity has a negative net worth of Rs. (221.84) Lakhs and a net loss of Rs. (74.76) Lakhs for FY 24-25.
27-05-2026
Promoter Amitaabh Goenka acquired 1,05,516 equity shares (0.10% of total share capital) of Premier Polyfilm Limited through open market purchase on May 26, 2026, increasing his stake from 11.90% to 12.00%. The acquisition was disclosed under SEBI Takeover Regulations and reflects a marginal increase in promoter holding.
- · The acquisition was made through open market purchase on May 26, 2026.
- · The total diluted share capital of the company is ₹10,47,42,475 consisting of 10,47,42,475 equity shares of ₹1 each.
- · No shares were reported as encumbered (pledged) before or after the acquisition.
- · The disclosure was filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
27-05-2026
India Homes Limited (BSE: 513361) has received a disclosure under SEBI SAST Regulation 29(2) from Isisales India Pvt Ltd & Others, indicating a potential change in substantial shareholding or control. The filing is purely a regulatory disclosure and does not provide any financial details, deal structure, or strategic rationale. No positive or negative performance metrics are available in this filing.
- · Disclosure received under SEBI SAST Regulation 29(2) from Isisales India Pvt Ltd & Others
- · No deal size, valuation, or share count disclosed in the filing
- · Sector classified as technology, though company name suggests real estate/housing
27-05-2026
Starlight Capital Private Limited, a promoter group entity, acquired 21,000 equity shares (0.13% of paid-up capital) of Trishakti Industries Ltd through open market purchase on May 27, 2026. Post-acquisition, Starlight Capital's total holding (including warrants/convertible securities) increased to 2,21,000 shares, representing 1.24% of the diluted voting capital. The filing does not provide any period-over-period financial performance data for the company.
- · The acquisition was made through open market purchase on BSE.
- · Starlight Capital is part of the promoter/promoter group of Trishakti Industries.
- · The company's paid-up equity capital consists of 1,64,76,550 shares of face value ₹2 each, totaling ₹3,29,53,100.
- · Starlight Capital also holds 2,00,000 warrants/convertible securities (1.11% of diluted capital), which remained unchanged.
27-05-2026
RDB Infrastructure and Power Limited's board approved audited financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. The company also approved investment of Rs. 4,35,000 in Maxim Industries Private Limited (a proposed solar cell manufacturing entity) for a 29% stake, and allotted 1,36,50,000 equity shares upon conversion of warrants, receiving Rs. 41,46,18,750. However, 1,78,00,000 warrants were forfeited due to non-exercise of conversion options by major allottees including Multitude Growth Funds Limited (1,50,00,000 warrants) and several individuals, indicating significant unmet conversion expectations.
- · Audited financial results for Q4 and FY ended March 31, 2026, received unmodified audit opinion from LB Jha & Co. LLP.
- · Warrant conversion deadline was May 26, 2026; 1,78,00,000 warrants were forfeited.
- · Major forfeited warrants: Multitude Growth Funds Limited (1,50,00,000 warrants), Kinnari Vikas Shah (10,00,000), Arun Kumar Sancheti (6,25,000), Vikas Gupta (2,50,000).
- · The company's equity shares were sub-divided from face value Rs. 10 to Re. 1 effective February 28, 2025, affecting warrant counts and issue prices.
- · Total issued shares increased to 22,36,59,000 after conversion.
27-05-2026
Carborundum Universal Limited has completed the acquisition of a 29.58% equity stake in Putrim Renewables Private Limited (PRPL) for an investment of Rs.6.48 crore. This follows a Power Purchase Agreement announced on 10th April 2026 and a Share Subscription and Shareholders’ Agreement with CSE Development (India) Private Limited and PRPL. The acquisition strengthens Carborundum's position in the renewable energy sector.
- · The acquisition was completed on 27th May 2026.
- · The investment is part of a Share Subscription and Shareholders’ Agreement with CSE Development (India) Private Limited and PRPL.
- · A Power Purchase Agreement with PRPL was previously executed on 10th April 2026.
27-05-2026
Centrum Capital Ltd filed a disclosure under SEBI SAST Regulations for JBCG Advisory Services Pvt Ltd. No financial details, deal structure, or strategic rationale were disclosed in the filing.
27-05-2026
OnEMI Technology Solutions Ltd's Board approved audited financial results for the quarter and year ended March 31, 2026, with an unmodified audit opinion. The company also approved a Postal Ballot to amend employee stock option plans and approved incorporation of a wholly owned subsidiary. The consolidated financial results include the subsidiary Si Creva Capital Services Private Limited, which reported total revenue of Rs. 15,413.26 million for the year and net profit of Rs. 1,482.37 million.
- · Auditor issued unmodified opinion on consolidated financial results for year ended March 31, 2026.
- · Postal Ballot sought for amendment and ratification of three ESOP plans (2019, 2021, 2022) and extension of grants to eligible employees of group companies in India and abroad.
- · Board approved incorporation of a Wholly Owned Subsidiary (WOS) under the Companies Act, 2013.
- · Subsidiary Si Creva Capital Services had total assets of Rs. 37,300.10 million as at March 31, 2026.
- · No period-over-period comparisons were disclosed in this filing for the company's own performance.
27-05-2026
South India Paper Mills Ltd (SIPM) has entered into a Share Subscription cum Shareholder's Agreement (SSSHA) to acquire 1,40,000 equity shares (26% stake) of Clean Wind Power (Manvi) Pvt Ltd for a cash consideration of ₹14,00,000. The acquisition is part of a Group Captive Structure to secure 11.6 million units of wind power for SIPM's industrial facilities. However, Clean Wind Power's revenue has declined over the last three years, from ₹854,476,010 (FY2024 audited) to ₹609,680,700 (FY2026 provisional), representing a 28.6% drop over the period.
- · The acquisition is not a related party transaction; Clean Wind Power and Hero Rooftop Energy are not related to SIPM's promoter/promoter group.
- · Clean Wind Power (Manvi) Pvt Ltd was incorporated on 14 July 2014 and operates as an Independent Power Producer in Karnataka, India.
- · The equity shares are being acquired at a face value of ₹10 per share.
- · Power supply is tentatively expected to start by 1 August 2026.
- · The acquisition is expected to be completed within July 2026.
27-05-2026
Advait Energy Transitions Limited incorporated a new subsidiary, Advait BESS Bhesaan Private Limited, on May 27, 2026, with an authorized and paid-up share capital of ₹1,00,000. The subsidiary will focus on Battery Energy Storage Systems (BESS) and related services. The company acquired 51% shareholding via cash consideration.
- · Subsidiary incorporated on May 25, 2026, under CIN U35106GJ2026PTC178464.
- · Registered office at A 801-803 Sankalp Iconic, Opp Vikram Nagar, Bodakdev, Ahmadabad-380054, Gujarat.
- · Main object includes EPC/turnkey of BESS for captive, grid-connected, and off-grid applications.
- · No governmental or regulatory approvals required for the acquisition.
- · Consideration is cash at face value for subscription of shares.
- · Advait BESS Bhesaan Private Limited is a related party.
27-05-2026
Aditya Infotech Limited's Board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. The Board recommended a final dividend of ₹1.64 per share (164% of face value) and approved further investment of up to USD 400,000 in its wholly owned subsidiary, Aditya Infotech Taiwan Co. Ltd. The filing does not provide period-over-period financial comparisons, so performance trends cannot be assessed.
- · The Board meeting commenced at 16:45 IST and concluded at 17:56 IST on May 27, 2026.
- · The financial results include audited standalone and consolidated figures for the quarter and year ended March 31, 2026.
- · The audit report from Walker Chandiok & Co LLP contains an unmodified opinion.
- · The proposed dividend of ₹1.64 per share is subject to shareholder approval at the forthcoming AGM.
- · The investment in Aditya Infotech Taiwan Co. Ltd is capped at INR equivalent of USD 400,000.
- · Three subsidiaries (two outside India) were not audited by the principal auditor; their combined total assets were ₹15,027.02 million, total revenues ₹21,607.12 million, net profit after tax ₹291.66 million, total comprehensive income ₹291.69 million, and net cash outflows ₹770.98 million for the year ended March 31, 2026.
27-05-2026
Rakesh Dungarmal Tainwala, a promoter of Tainwala Chemicals & Plastics (India) Ltd, has revised his proposed acquisition of equity shares from his brother Rajkumar Tainwala via gift from 6,00,232 shares (6.41%) to 5,86,464 shares (6.26%). The transaction, exempt from open offer under SEBI SAST Regulations, will increase Rakesh Tainwala's stake from 0% to 6.26% while reducing Rajkumar Tainwala's holding from 6.46% to 0.20%, with no consideration involved.
- · The proposed acquisition is exempt from open offer under Regulation 10(1)(a)(i) of SEBI SAST Regulations, 2011 as it is an inter-se transfer by way of gift between immediate relatives.
- · Post-transaction, Rajkumar Tainwala's shareholding will drop from 6.46% (6,05,060 shares) to 0.20% (18,596 shares).
- · Other promoter entities (Shobha Ramesh Tainwala, Ramesh Tainwala, Arushi Rajkumar Tainwala, Concept Reality and Securities Pvt Ltd, Tainwala Holdings Pvt Ltd, Periwinkle Fashions Pvt Ltd) will see no change in their holdings.
- · The proposed date of acquisition is on or after June 1, 2026.
27-05-2026
The President of India, acting through the Department of Financial Services, Ministry of Finance, sold 73,16,12,102 equity shares (8.08% of total paid-up capital) of Central Bank of India via an Offer for Sale (OFS) mechanism on May 22 and May 25, 2026. The sale reduced the government's stake from 89.21% to 81.19%, with an additional oversubscription option of up to 36,20,56,051 shares (4%) and a separate employee offer of 75,00,000 shares (0.1%). The transaction was executed under SEBI Takeover Regulations and OFS guidelines.
- · The OFS was conducted on May 22, 2026 (T day for non-Retail Investors) and May 25, 2026 (T+1 day for Retail Investors, Employees, and unallotted non-Retail bids).
- · The government retained the option to sell an additional 36,20,56,051 shares (4% of capital) via oversubscription.
- · A separate employee offer of 75,00,000 shares (0.1% of capital) was made to eligible employees.
- · The sale was executed under Regulation 29(2) of SEBI Takeover Regulations, 2011, and the filing was made within 2 working days of closure.
- · No shares were encumbered or pledged before or after the sale.
27-05-2026
Dr. Sowmya Deshpande, a non-promoter shareholder of Family Care Hospitals Limited, disclosed the sale of 148,596 shares (0.28% of total share capital) via open market transactions between May 19-22, 2026. Post-sale, her holding reduced from 7.1% to 6.82% of the total share capital, while the diluted voting capital remained unchanged at 5.28%.
- · The sale was executed in the open market over four days: May 19 to May 22, 2026.
- · The acquirer is not part of the promoter/promoter group.
- · No shares were encumbered before or after the transaction.
- · The total diluted share capital remained unchanged at ₹54,01,47,740 (5,40,14,774 shares of ₹10 each).
27-05-2026
Parshav Vatika LLP, along with PACs K8 Products LLP and Tidagela Ventures Private Limited, acquired a 67.17% stake in Lykis Limited under SEBI Takeover Regulations. The transaction was completed on May 25, 2026, via an off-market share purchase (1,30,14,966 shares) and a mandatory open offer (201 shares). The promoter group will relinquish control, and the acquirers will become the new promoters of the target company, listed on BSE Limited.
- · Share Purchase Agreement date: December 18, 2025.
- · Acquiring entities are not part of the existing promoter group.
- · Compliance under Regulation 31A of SEBI LODR Regulations, 2015 required for formal promoter change.
- · Face value of equity shares: ₹10 each.
- · Stock exchange where shares are listed: BSE Limited.
27-05-2026
Euro Pratik Sales Limited received a disclosure from designated persons (acquiror and PACs) under SEBI Takeover Regulations, reporting an aggregate open market acquisition of 1,055,873 equity shares (1.03% of voting capital) on May 26, 2026. Post-acquisition, the acquirer group (led by Jai Gunvantraj Singhvi and PACs) holds 34.09% of the total voting capital, up from 33.06% before the acquisition. However, several named PACs, including Dipty Pratik Singhvi, Nisha Jai Singhvi, and entities like Mirage Intex LLP, reported zero new shares acquired during this period, indicating the acquisition was concentrated among a few family/HUF members.
- · The disclosure was filed under Regulation 29(2) of SEBI Takeover Regulations, which requires disclosure upon crossing thresholds or material changes.
- · The acquirer and PACs hold shares both as individuals and as HUFs – the largest single block is Jai Gunvantraj Singhvi HUF at 22.92% post-acquisition.
- · Several PACs including Dipty Pratik Singhvi (5.87%), Nisha Jai Singhvi (5.87%), Mirage Intex LLP (1.50%), and Niraj Intex LLP (0.97%) made no additional purchases in this transaction.
- · No encumbered shares (pledge/lien) are reported by the group either pre- or post-acquisition.
- · The equity capital remained unchanged at ₹10,22,00,000 divided into 10,22,00,000 equity shares of Re. 1 each.
27-05-2026
Swarna Malhotra, along with Persons Acting in Concert (PACs), acquired 3 equity shares of Sunshield Chemicals Ltd. on May 25, 2026, increasing their collective holding from 58,52,190 shares (66.54%) to 58,52,193 shares (66.54%). The acquisition was made via open market purchase. The promoter group's stake remains unchanged at 66.54% post-acquisition.
- · The acquisition was made under Regulation 29(2) of SEBI Takeover Regulations.
- · No encumbrance (pledge/lien) on shares before or after acquisition.
- · Equity share capital remained unchanged at ₹8,79,48,360.
27-05-2026
Mukul Agrawal and Param Value Investments (acting in concert) have disclosed a net reduction of 10,12,500 shares (4.647% of voting capital) in Siyaram Recycling Industries Ltd. between April 23 and May 25, 2026, reducing their combined stake from 6.138% to 1.492%. The sale was executed through open market transactions, and the acquirers are not part of the promoter/promoter group.
- · The sale was executed in the open market over the period April 23, 2026 to May 25, 2026.
- · The acquirers are not part of the promoter/promoter group.
- · The total equity share capital of the target company remained unchanged at 2,17,89,212 equity shares of ₹10 each (₹21,78,92,120).
- · No convertible securities or warrants were involved in the transaction.
27-05-2026
Afcons Infrastructure Ltd has filed a disclosure under Regulation 31(1) and 31(2) of the SEBI (SAST) Regulations, 2011 on May 26, 2026, for Goswami Infratech Pvt Ltd. The filing is purely a regulatory disclosure of a substantial acquisition of shares and takeovers; no financial details, deal structure, valuation, or strategic rationale are disclosed. The sector is stated as technology, though the target's name suggests infrastructure. The analysis is severely constrained by the lack of any quantitative or strategic data in the filing.
27-05-2026
BCP Topco IX Pte. Ltd., the promoter of Mphasis Limited, has refinanced its existing USD 1,100,000,000 (USD 1.1B) facility (2021 Facility) with a new USD 550,000,000 (USD 550M) facility (2026 Facility) dated May 12, 2026. The refinancing resulted in the release of the 2021 encumbrance and the simultaneous creation of a fresh encumbrance (including a direct pledge over 100% of the promoter's 5,82,99,642 shares in Mphasis, representing 30.55% of total share capital) in favor of the new lenders. There is no change in the promoter's shareholding in Mphasis, and the transaction is purely a refinancing exercise.
- · The 2021 Facility was originally availed on July 1, 2021, for up to USD 1,100,000,000.
- · The 2026 Facility was availed on May 12, 2026, for up to USD 550,000,000, a reduction of USD 550M from the prior facility.
- · The 2021 encumbrance was an indirect pledge over 100% of the shares of BCP Topco IX Pte. Ltd. held by its parent; the 2026 encumbrance includes a direct first-ranking exclusive pledge over 100% of the Mphasis shares held by BCP Topco IX Pte. Ltd.
- · The 2026 Facility is syndicated among 9 lenders, including Citibank, Barclays, MUFG, HSBC, Morgan Stanley, BNP Paribas, Deutsche Bank, J.P. Morgan, and Nomura.
- · The refinancing was completed on May 15, 2026, with the 2021 Facility repaid in full on the same date.
- · The end use of the 2026 Facility includes refinancing existing indebtedness, payment of dividends and other distributions to shareholders of the Borrower, and payment of fees and expenses.
- · The security cover ratio is 2.302 (asset value of shares ₹121,449,814,214 vs. amount involved ₹52,756,000,000).
27-05-2026
Physicswallah Limited approved an investment of approximately INR 120 crore in its wholly owned subsidiary FinZ Finance Private Limited via subscription to 2,66,66,667 equity shares at ₹45 per share (face value ₹10 + premium ₹35). The investment aims to augment working capital and scale up FinZ Finance's NBFC operations, which commenced in March 2026 with a turnover of only INR 0.01 million in FY26. FinZ Finance had nil turnover in FY25 and was not applicable in FY24, indicating negligible revenue generation so far.
- · FinZ Finance received its NBFC license from RBI on September 2, 2025, and commenced operations in March 2026.
- · The transaction is a related party transaction but done at arm's length; Physicswallah holds no other interest in FinZ Finance beyond shareholding.
- · The investment is via cash consideration; no change in shareholding percentage (remains wholly owned subsidiary).
- · FinZ Finance's turnover for FY24 was 'Not Applicable' as it was incorporated on July 2, 2024.
27-05-2026
Lancor Holdings Limited has received a certified order from the National Company Law Tribunal (NCLT), Chennai Bench, approving the merger of its wholly owned subsidiary, Lancor Maintenance & Services Limited (which had nil turnover as of Dec 2025), into itself, with an appointed date of April 1, 2024. The merger is a consolidation move that will not involve any cash consideration, share exchange, or change in the shareholding pattern of the listed entity. The objective is to achieve operational efficiency, cost reduction, and streamlined management, though the subsidiary's nil turnover indicates minimal current operational impact.
- · The appointed date for the scheme is April 1, 2024, and the scheme will become effective upon filing the certified NCLT order with the Registrar of Companies.
- · The merger is exempt from related-party transaction provisions under SEBI LODR Regulation 23(5)(b) because it involves a wholly owned subsidiary.
- · Lancor Maintenance & Services Limited is engaged in maintenance services, while Lancor Holdings is in real estate construction and development.
- · There is no cash consideration or share exchange ratio because the subsidiary is wholly owned; the holding company's investment in the subsidiary's equity shares will be cancelled.
- · The filing notes that the merger will not prejudice the interests of any shareholder or creditor of either entity.
27-05-2026
Wim Plast Ltd. (WPL) has been dissolved without winding up following the sanction of a Composite Scheme of Arrangement by the NCLT, Ahmedabad Bench, effective May 27, 2026, with an appointed date of April 1, 2025. Under the scheme, WPL's demerged unit will be part of Cello Consumer Products Private Limited (CCPPL) and the merged unit will be part of Cello World Limited (CWL). The Record Date for allotment of CWL equity shares to WPL shareholders is June 9, 2026. The scheme became effective on the same day as the board meeting, and the previously scheduled EGM for director regularization has been cancelled.
- · The NCLT order was dated May 14, 2026.
- · The appointed date for the scheme is April 1, 2025.
- · Record Date for CWL equity share allotment is June 9, 2026.
- · The board meeting started at 12:30 PM and ended at 1:35 PM on May 27, 2026.
- · The EGM scheduled for June 6, 2026, regarding Mr. Ramesh F. Ranka's appointment as Independent Director has been cancelled as infructuous.
27-05-2026
Jaysynth Orgochem Limited's Board approved the incorporation of a wholly owned subsidiary in Hong Kong to support trading activities, including procurement and export opportunities. The subsidiary will be 100% cash-funded, but no financial details or timeline for incorporation were disclosed.
- · The subsidiary will be incorporated in Hong Kong, subject to approvals from Hong Kong Companies Registry, Hong Kong Inland Revenue Department, and under FEMA (Overseas Investment) Rules, 2022.
- · The company will subscribe to 100% of the initial paid-up share capital in cash.
- · No cost of subscription or share price has been disclosed as the entity is yet to be incorporated.
27-05-2026
Grovy India Limited announced the acquisition of a new premium luxury residential project in Defence Colony, New Delhi, with an estimated development area of 15,000 sq. ft. The acquisition aligns with the company's strategy to strengthen its presence in South Delhi's high-end residential market and is expected to contribute positively to long-term growth. No financial terms or prior-period comparisons were disclosed, and the company voluntarily stated the disclosure is not material.
- · The project is located in Defence Colony, New Delhi, a prestigious South Delhi neighborhood.
- · The company voluntarily disclosed the information, stating it does not qualify as material information.
- · No acquisition cost or financial consideration was disclosed.
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