India Merger Acquisition MCA Regulatory Filings — March 26, 2026

25-03-2026

P.G. Foils Ltd. received disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations 2015 and Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeover) Regulations 2015 on March 25, 2026. No specific details on the disclosures, such as parties involved or share quantities, were provided in the filing.

• ·Disclosure received at place: Pipalia Kalan (Beawar)

25-03-2026

SJ Corporation Ltd filed a Merger/Acquisition document on March 25, 2026, digitally signed by Deepak Bhikhalal Upadhyay on the same date at 15:54:19 +05'30'. No specific details regarding the transaction parties, terms, financial implications, or timelines are provided in the visible content.

25-03-2026

Polyplex Corporation Limited's Board of Directors approved an investment of up to ₹11 Cr (₹1,100 Lakh) for approximately 49% equity stake in Clean Max Neht Private Limited, a newly incorporated SPV, to purchase solar power for the company's plants at Khatima and Bazpur. The investment aims to meet green energy needs, optimize energy costs, and ensure compliance with electricity laws on captive power consumption. The transaction involves cash consideration via Share Subscription and Shareholders’ Agreement, with completion expected within approximately 365 days from execution.

• ·Clean Max Neht Private Limited incorporated on November 10, 2025, in Mumbai; turnover not applicable as newly incorporated.
• ·Not a related party transaction; no interest from promoters/promoter group.
• ·Industry: Renewable Energy.
• ·No governmental or regulatory approvals required.
• ·Board meeting held on March 25, 2026, from 02:00 p.m. to 03:35 p.m. IST.

25-03-2026

Promoter Amit Goenka disclosed the creation of pledges on 5.50 L equity shares (2.30% of share capital) on March 17, 2026, and 6.10 L equity shares (2.55% of share capital) on March 24, 2026, in favor of Catalyst Trusteeship Limited as security for loans availed by Nisus Finance Projects LLP from Tata Capital Limited and DSP Finance Private Limited. This encumbrance is reported under SEBI (SAST) Regulations 31(1). As of December 31, 2025, residual promoter group members held only 485 shares (0.00% of paid-up capital) with no prior encumbrances.

• ·Disclosure reported to BSE Limited and Nisus Finance Services Co Limited on March 25, 2026.
• ·Scrip Code: 544296; ISIN: INE0DQN01013.

25-03-2026

Paresh Nathabhai Sadaria, a promoter/promoter group member of Galaxy Agrico Exports Limited, disclosed the open-market disposal of 55,500 equity shares (1.32% of total share/voting capital) on March 24, 2026, reducing his holding from 1.32% to 0%. The transaction details were filed with Bombay Stock Exchange Limited on March 25, 2026, under SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011 - Regulation 29(2). No other changes in holdings or financial impacts were reported.

• ·Scrip code: 531911
• ·Disclosure under SEBI Regulation 29(2)

25-03-2026

Umesh Vasantlal Modi, Promoter and Managing Director of Jupiter Infomedia Limited, disclosed the open-market sale of 4,00,000 equity shares (3.99% stake) on March 24, 2026, reducing his holding from 18.24% (18,27,872 shares) to 14.25% (14,27,872 shares). No other changes in encumbrances, voting rights, or convertible securities were reported. The company's total equity share capital remains unchanged at ₹10.02 Cr, comprising 1,00,20,000 shares of ₹10 each.

• ·Disclosure filed under Regulation 29(2) of SEBI (SAST) Regulations, 2011 and Regulation 7(2) of SEBI (PIT) Regulations, 2015
• ·No shares in encumbrance, additional voting rights, or convertible securities held before or after
• ·Filing date: March 25, 2026

25-03-2026

Promoter group members Ajinkya Investment And Trading Company and Sundaram Trading And Investment Pvt Ltd acquired a total of 50,54,091 equity shares of BF Investment Limited via inter-se transfer on March 24, 2026, from KSL Holdings Pvt Ltd, which disposed of its entire holding. Ajinkya's stake increased from 27.32% (1,02,92,103 shares) to 34.10% (1,28,46,194 shares) for ₹91.51 Cr, while Sundaram's rose from 26% (97,93,068 shares) to 32.63% (1,22,93,068 shares) for ₹89.53 Cr; KSL's holding went to nil from 13.42% (50,54,091 shares) for ₹181 Cr. This represents an internal restructuring with no change to overall promoter group ownership.

• ·Transactions executed on BSE via inter-se transfer among promoter group members.
• ·ISIN: INE878K01010; BSE Scrip: 533303; NSE Symbol: BFINVEST.
• ·Disclosures dated March 25, 2026, for transaction on March 24, 2026.

25-03-2026

BSE received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from DPP Enterprises LLP regarding Siyaram Silk Mills Ltd (503811). No details on the transaction type, shareholding changes, deal size, or financial impact are provided in the summary. This is an informational SAST disclosure with no quantitative metrics or period-over-period comparisons disclosed.

25-03-2026

BSE has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Anil Kumar HUF pertaining to CCL International Ltd. No quantitative details such as share count, percentage stake, deal value, or transaction structure are provided in the filing. This is an informational SAST disclosure indicating intent to acquire shares that may cross regulatory thresholds.

25-03-2026

Pratima Sandhir, Whole Time Director and Promoter Group member of Vibhor Steel Tubes Limited, acquired 2,500 equity shares (0.01% of total paid-up capital) via open market transaction on NSE at ₹109.58 per share on March 24, 2026. This increased her holding from 367,315 shares (1.94%) to 369,815 shares (1.95%). The transaction is a minor insider purchase with no other changes in encumbrances or convertible securities.

• ·Total paid-up capital unchanged at ₹18.96 Cr (1,89,62,443 shares of ₹10 each).
• ·No shares encumbered, no warrants or convertible securities held.
• ·Disclosure filed on March 25, 2026, under SEBI Regulation 29(1) and 29(2).

25-03-2026

BSE has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, from Harsh Dilipkumar Gandhi HUF pertaining to Nalin Lease Finance Ltd (531212). The filing indicates a potential substantial acquisition or disposal intention by the disclosing entity. No quantitative details, deal structure, valuation, or other transaction specifics are mentioned.

25-03-2026

Promoter, Whole Time Director and CFO Mrs. Rajpeta Kasturi Hanumenthareddy disclosed the sale of 2,20,000 equity shares (0.37% of total) via off-market inter-se transfer to fellow promoter Chenna Reddy Sanketh Ram Reddy through a Gift Deed dated March 2, 2026, executed on March 24, 2026. Her personal holding in Kavveri Defence & Wireless Technologies Ltd decreased from 5,21,977 shares (0.87%) to 3,01,977 shares (0.50%), while the overall promoter group structure remains unchanged as it is an inter-promoter transfer. Disclosures were made under SEBI (SAST) Regulation 29(2) and SEBI (PIT) Regulations 7(2) read with 6(2).

• ·Scrip Code (BSE): 590041; NSE Symbol: KAVDEFENCE; ISIN: INE641C01019
• ·Transaction mode: Off Market Inter-se transfer
• ·Filing date: March 25, 2026; Transaction date: March 24, 2026

25-03-2026

Premier Polyplast And Processors Limited, a promoter group company of Premier Polyfilm Limited, acquired 1.7 lakh equity shares (0.16% stake) through open market transactions on NSE on March 24, 2026, increasing its holding from 13.23% (1.39 Cr shares) to 13.39% (1.40 Cr shares). This disclosure was filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 on March 25, 2026. The transaction represents a marginal increase in promoter group stake with no other changes in encumbrances or voting rights.

• ·Scrip Codes: BSE 514354, NSE PREMIERPOL
• ·Premier Polyfilm CIN: L52109DL1992PLC049590
• ·Premier Polyplast CIN: U74999DL1984PLC017713
• ·No shares encumbered, no warrants or convertible securities held
• ·Total diluted share capital unchanged at 10.47 Cr shares

25-03-2026

Mudunuru Limited filed a Merger/Acquisition related disclosure with BSE on March 25, 2026, likely involving a SEBI Regulation 29(2) notice for substantial acquisition of shares and takeovers. The garbled filing includes tables with numerical entries such as 2471 (possibly pre/post shares), 64.4, 2786 (possibly total shares or volume), 315 (possibly acquired quantity), and 0.5 (possibly percentages), but lacks clear transaction details or financial impacts. No period-over-period comparisons or performance metrics are discernible.

• ·CIN: L72900AP1994PLCO39248
• ·Submitted to BSE at PJ Tower, Dalal Street, Mumbai
• ·Possible reference to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 29(2) disclosure
• ·Additional codes: SEcpCe:34, SErpoe060

25-03-2026

BSE received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, from Gurmukh Singh International Ltd & PACs pertaining to G.S. Auto International Ltd (513059). No details on the direction (acquisition or disposal), stake percentage, transaction value, or other terms were provided in the filing. This is an early-stage SAST compliance disclosure indicating intention for substantial shareholding change.

26-03-2026

Ramkrishna Forgings Limited informed that the Scheme of Amalgamation of its step-down wholly owned subsidiary Mal Metalliks Private Limited (Transferor Company No. 1) and wholly owned subsidiary Multitech Auto Private Limited (Transferor Company No. 2) with its wholly owned subsidiary Ramkrishna Casting Solutions Limited (formerly JMT Auto Limited, Transferee Company) has become effective from March 25, 2026, following filing of the NCLT order dated February 27, 2026, with the Registrar of Companies, Kolkata. The Appointed Date for the Scheme is January 01, 2024. As a result, both transferor companies stand dissolved without winding up and have ceased to be subsidiaries of the Company.

• ·Intimation under Regulation 30 of SEBI LODR Regulations, 2015
• ·NCLT Kolkata Bench order passed on February 27, 2026; certified copy filed via e-form INC-28 on March 25, 2026
• ·BSE Scrip Code: 532527; NSE Symbol: RKFORGE
• ·Information available on company website: www.ramkrishnaforgings.com

26-03-2026

Vimla Inani, a promoter of Inani Marbles & Industries Ltd., disclosed the acquisition of 10,000 equity shares (0.05%) through the open market on March 24, 2026, under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This increased her holding along with PACs from 8,13,962 shares (4.37%) to 8,23,962 shares (4.42%). No shares were encumbered, and total equity share capital remained at 3,72,00,000.

• ·Disclosure filed on March 26, 2026 to BSE Limited.
• ·No warrants, convertible securities, or other instruments held.
• ·Mode of acquisition: Open market.
• ·Acquirer belongs to Promoter Group.

26-03-2026

Marathon Nextgen Realty Limited (MNRL) received an observation letter dated March 25, 2026, from BSE Limited with 'no adverse objection' for the Composite Scheme of Amalgamation and Arrangement involving Transferor Companies Matrix Water Management Private Limited (MWMPL) and Sanvo Resorts Private Limited (SRPL), Demerged Companies Marathon Realty Private Limited (MRPL), Matrix Enclaves Projects Developments Private Limited (MEPDPL), and Matrix Land Hub Private Limited (MLHPL), and Resulting Companies MNRL and Marathon Energy Private Limited (MEPL). The letter was disclosed to BSE and NSE on March 26, 2026. The scheme remains subject to approvals from shareholders, creditors, and other statutory/regulatory authorities.

• ·Scrip Code: 503101; Symbol: MARATHON
• ·Observation letter available on company website: https://marathon.in/nextgen/
• ·Disclosure addressed to BSE Limited (P.J. Towers, Dalal Street, Mumbai – 400001) and NSE Limited (Exchange Plaza, Plot No. C/1, G Block, BKC, Bandra (East), Mumbai – 400051)

26-03-2026

OBCL Limited (formerly Orissa Bengal Carrier Ltd.) disclosed under SEBI (Prohibition of Insider Trading) Regulations, 2015, that its Managing Director and Promoter, Mr. Ravi Agrawal, acquired equity shares through on-market transactions on March 24, 2026, and March 25, 2026. The acquisition involved 49,900 shares, representing approximately 0.04% of the total paid-up equity share capital. No other material financial impacts or declines were reported.

• ·Transactions dated March 24, 2026 and March 25, 2026
• ·Scrip Code: 541206
• ·Trading Symbol: OBCL
• ·ISIN: INE426Z01016
• ·Ravi Agrawal DIN: 01392652

26-03-2026

Lend Lease Company (India) Limited, part of the promoter/promoter group, acquired 37,620 equity shares (0.43% of total share capital) of Nexome Capital Markets Limited (formerly SMIFS Capital Markets Limited) via open market on March 24, 2026, increasing its holding from 14,50,988 shares (16.46%) to 14,88,608 shares (16.89%). No shares were encumbered, and there were no changes in warrants or convertible securities. The disclosure complies with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

• ·Persons Acting in Concert (PAC): Utsav Parekh, Nilangi Parekh, Stewart Investment and Financial Pvt Ltd, Progressive Star Finance Pvt Ltd, Saharsh Parekh, Samarth Parekh, Vivaan and Keya Trust, Araiya and Kiaan Trust
• ·Acquirer belongs to Promoter/Promoter group: Yes
• ·No encumbrances (pledge/lien/non-disposal undertaking) before or after
• ·No voting rights acquired otherwise than by shares; no warrants/convertible securities
• ·Filing date: March 26, 2026

26-03-2026

Rashi Goenka, a member of the promoter group of GAMCO LIMITED, acquired 6206 equity shares of face value Rs. 2/- each through an open market transaction on March 25, 2026. This increased her shareholding from 1405727 shares (2.60% of total equity) to 1411933 shares (2.61% of total equity), where total issued and paid-up equity share capital consists of 54031500 shares aggregating Rs. 1080630000. The disclosure was filed on March 26, 2026, under Regulation 29(2) of SEBI (SAST) Regulations.

• ·BSE Scrip Code: 540097
• ·Face value per equity share: Rs. 2/-
• ·Mode of acquisition: Open market transaction
• ·No shares encumbered, no warrants or convertible securities held

26-03-2026

RattanIndia Enterprises Limited acquired an additional 0.19% equity stake in RattanIndia Power Limited (RPL) through a secondary purchase on NSE at market prices, increasing its holding from 19.813% to 20.003% and making RPL an associate company. The acquisition cost ₹8,32,01,380. RPL's turnover grew 4.1% YoY to ₹3,364.00 Cr in FY24 but declined 2.4% to ₹3,283.83 Cr in FY25.

• ·RPL incorporated on October 08, 2007 and engaged in thermal power business in India.
• ·Acquisition executed on NSE at prevailing market prices on arm's length basis.
• ·RPL qualifies as related party; promoter/promoter group/group companies had existing interest.

26-03-2026

Rajputana Stainless Limited has signed a Memorandum of Understanding (MOU) for the proposed acquisition of land at Revenue Survey No. 774/1, Khata No. 871, Village Padla, Taluka Shankheshwar, Dist. Patan, with an advance payment of Rs. 10 Crores 45 Lacs and total consideration of Rs. 18 Crores plus stamp duty. The transaction is subject to due diligence, execution of definitive agreements, and necessary statutory approvals. Further disclosures will be made upon completion.

• ·CIN: U27109GJ1991PLC015331
• ·ISIN: INE313LO1016
• ·Script Code: 544731 (BSE), Symbol: RSL (NSE)
• ·Disclosure under Regulation 30(3) of SEBI (LODR) Regulations, 2015

26-03-2026

Laxmi Dental Limited's Board approved the Scheme of Amalgamation of its wholly-owned subsidiary Bizdent Devices Private Limited (engaged in aligner devices, sleep apnoea devices, and sports guards) into the listed entity to simplify group structure, achieve operational synergies, reduce costs, and enhance stakeholder value, subject to regulatory approvals including from the Regional Director and stock exchanges. No change in shareholding pattern or issuance of new shares, as the subsidiary's shares will be cancelled. Additionally, the Board approved amendments to 16 policies, re-appointed tax auditors for FY 2025-26, appointed internal auditors for FY 2026-27, and changed designations for Mr. Mitesh Kariya to COO-Illusion Dental and Mr. Arun Babu John to CRO-Illusion Dental.

• ·Bizdent Devices Private Limited CIN: U33203MH2021PTC357799; Laxmi Dental Limited CIN: L51507MH2004PLC147394
• ·Tax Auditor: M/s. Abhay Subhash & Associates re-appointed for FY 2025-26
• ·Internal Auditor: M/s. Bathiya Advisors LLP appointed for FY 2026-27
• ·Amended policies include Nomination and Remuneration Policy, Risk Management Policy, Whistle Blower Policy, and others

26-03-2026

Bondada Engineering Limited has incorporated a wholly new subsidiary, BONDADA DINESH SPV PRIVATE LIMITED, as a Special Purpose Vehicle (SPV) for executing a project awarded by Maharashtra State Power Generation Company Limited (MAHAGENCO) in consortium with Dinesh Engineers Limited. The subsidiary has authorised and paid-up capital of Rs. 1,00,000/- each, with Bondada holding 51% of the share capital. This move aligns with the company's strategic vision to strengthen its presence in the Power & Energy sector, specifically in Operation & Maintenance for renewable energy projects.

• ·Subsidiary incorporated in India, registered with Registrar of Companies, Hyderabad, Telangana; yet to commence business operations.
• ·Industry: Operation & Maintenance – Renewable Energy, including solar and hybrid projects.
• ·No related party transactions, governmental approvals, or acquisition cost involved.

26-03-2026

Diamines & Chemicals Limited informed stock exchanges on March 26, 2026, that it received a disclosure dated March 25, 2026, under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure pertains to substantial acquisition of shares but details are enclosed separately and not specified here. This intimation complies with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

• ·Scrip Code: BSE 500120, NSE DIAMINESQ
• ·CIN No: L24110GJ1976PLC002905

26-03-2026

Maharashtra Scooters Limited, an unregistered core investment company, disclosed acquisitions of shares in Bajaj Finance Ltd and Bajaj Auto Ltd on March 25, 2026, through the secondary market in the ordinary course of business. For Bajaj Finance Ltd, it acquired 0.0039% stake for ₹21.58 Cr, bringing cumulative investment to ₹71.65 Cr (3.0533% stake). For Bajaj Auto Ltd, it acquired 0.0125% stake for ₹31.87 Cr, with cumulative investment at ₹112.46 Cr (2.4738% stake). No regulatory approvals required; transactions are not related party.

• ·Transactions are not related party transactions and done at arm's length.
• ·No governmental or regulatory approvals required for the acquisitions.
• ·Acquisitions outside main line of business but in ordinary course as core investment company.

26-03-2026

Allied Digital Services Limited disclosed that its wholly-owned subsidiary, Allied Digital Inc., converted its entire outstanding loan into equity by issuing 6,868 shares at USD 1,877.99 per share (face value USD 10), aggregating USD 12.89 million, effective March 25, 2026, following the board meeting on February 4, 2026. This transaction squares off the loan with no change in the Company's 100% shareholding. The subsidiary currently has no business operations and is engaged in investment activities under Delaware law.

• ·No governmental or regulatory approvals required for the acquisition.
• ·Indicative completion by March 31, 2026.
• ·Transaction conducted on arm's length basis with related party (wholly-owned subsidiary).
• ·Size/turnover of Allied Digital Inc.: Nil.

26-03-2026

Kranti Industries Limited disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, an inter se transfer of equity shares among promoters and promoter group members by way of gift. Specifically, Mr. Sachin Subhash Vora acquired shares from Sachin Subhash Vora (HUF), and Mr. Sumit Subhash Vora acquired shares from Sumeet Subhash Vora (HUF) through an off-market transaction. This internal restructuring does not involve external parties or financial considerations.

• ·Scrip Code: 542459
• ·Scrip Symbol: KRANT
• ·Disclosure pertains to off-market inter se transfer by way of gift
• ·Filing submitted to BSE Limited, Mumbai

26-03-2026

Bikaji Foods Retail Limited (BFRL), a wholly-owned subsidiary of Bikaji Foods International Limited, completed the second tranche acquisition of an additional 8.59% stake in Hazelnut Factory Food Products Private Limited (THF), increasing its total shareholding to 48.99% at an aggregate investment of approximately ₹101 Crore. This move advances the company's House-of-Brand strategy for expanding its Quick Service Restaurant (QSR) business vertical. THF demonstrated steady turnover growth from ₹39.31 Crore in FY23 to ₹44.85 Crore in FY24 and ₹54.31 Crore in FY25.

• ·Acquisition completed on March 26, 2026; prior tranches announced October 16, 2024 and October 26, 2024.
• ·THF incorporated December 19, 2019; operates in Uttar Pradesh and Delhi, India.
• ·Transaction is related party (due to Rishabh Jain's directorship) but conducted on arm's length basis.
• ·No governmental or regulatory approvals required.

26-03-2026

Suraj Industries Ltd's Board approved the acquisition of 25,000 equity shares from Vikas Gupta and 24,800 shares from Ritesh Gupta (Joint MD), both Promoter Group members, in Shri Gang Industries and Allied Products Limited, increasing its stake modestly from 20.02% to 20.27%. Shri Gang, a breweries & distilleries entity with partnerships including United Spirits Limited, reported strong FY 2024-25 turnover of ₹352.62 Cr (up 22% YoY from ₹288.64 Cr) and PAT of ₹29.33 Cr (up 98% YoY from ₹14.79 Cr), reflecting robust growth from FY 2022-23 levels of ₹138.68 Cr turnover and ₹13.16 Cr PAT. The cash acquisitions, conducted at arm's length and approved by the Audit Committee, are expected to complete within 30 days.

• ·Shri Gang incorporation date: August 02, 1989
• ·Shri Gang bottling plant commercial production commenced: July 2020
• ·Shri Gang grain-based distillery commissioned: September 2022
• ·Board meeting held on March 26, 2026, from 01:30 P.M. to 02:15 P.M. IST
• ·No additional governmental approvals required beyond Companies Act and SEBI LODR
• ·Acquisition price: average of opening and closing BSE prices on day preceding transaction

26-03-2026

Nivee Holdings Private Limited, a promoter group entity of Rain Industries Limited, acquired 80,000 equity shares representing 0.0238% of the total share capital on March 25, 2026, from the open market. This increased Nivee Holdings' holding from 85,43,250 shares (2.54%) to 86,23,250 shares (2.56%). The overall promoter group shareholding rose marginally from 13,89,35,053 shares (41.31%) to 13,90,68,353 shares (41.35%).

• ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.
• ·Mode of acquisition: Purchase from open market.
• ·Scrip codes: 500339 (BSE), RAIN (NSE).
• ·No shares encumbered, no warrants or convertible securities held by acquirer.

26-03-2026

TVS Supply Chain Solutions Limited (TVS SCS) has received allotment of equity shares from its wholly owned subsidiary, TVS Logistics Investments Inc. USA (TVS LI USA), for additional funding towards business expansion and working capital requirements, at a cost of INR 213.44 Mn with shares priced at USD 165 each. TVS LI USA reported strong turnover growth to 10,298.94 Mn in FY25 (+29.4% YoY from 7,961.77 Mn in FY24) and +12.7% YoY in FY24 from 7,061.93 Mn in FY23, reflecting robust performance in storage, warehousing, and freight transportation services. The transaction, under automatic route of Overseas Investment Guidelines, is expected to complete by March 31, 2026, with no related party interests involved.

• ·Share price: USD 165 each
• ·TVS LI USA incorporation date: 01-Dec-2010
• ·Transaction requires compliances under Foreign Exchange Management Act, 1999 and Overseas Investment Guidelines, 2022 - Automatic route
• ·No promoter/promoter group/group companies interest; not a related party transaction
• ·TVS LI USA to remain wholly owned subsidiary post-allotment