Executive Summary
Across 50 filings in India Tech M&A Activity stream (March 27, 2026), dominant themes include promoter stake accumulations signaling management conviction (15+ cases like OBCL +0.28%, Indiamart +0.07%), contrasted by rising pledges indicating liquidity stress (12 cases, e.g., Veranda promoters +2.49% pledged to 10.34% total). Actual M&A deals focus on strategic consolidations in renewables (Apcotex 2.55% solar SPV, Kalyani 4.85% clean energy), beverages (Valencia 1% to 100% WOS despite -93.3% YoY turnover), and retail/infra (Prozone acquisitions at ₹5.8Cr total). Period-over-period trends show mixed turnover: declines in Valencia (-93.3% YoY), Prozone targets (-24%/-17% YoY), AK Capital (-19.7% YoY), but growth in Pioneer Investcorp target (+5.1% YoY). Neutral sentiment prevails (60% filings) due to sparse details in Reg 29(2) disclosures, with positive M&A catalysts like Mazagon Dock reaching 51% in Colombo Dockyard. Portfolio-level: Promoters net buying outweighs selling/pledging, but watch encumbrance rises (e.g., SWAN +4.30%, B-Right +7.45%); implies selective M&A alpha in renewables amid tech/infra consolidation.
Tracking the trend? Catch up on the prior India Technology Sector Merger & Acquisition Filings digest from March 26, 2026.
Investment Signals(12)
- GAMCO LIMITED↓(BULLISH)▲
Promoter Rashi Goenka acquired 6206 shares (+0.01% to 2.61%) via open market
- Mayur Uniquoters Ltd↓(BULLISH)▲
Promoter Kiran Poddar bought 3036 shares (+0.007% to 58.75%) open market
- Orissa Bengal Carrier Limited↓(BULLISH)▲
MD Ravi Agrawal acquired 59,900 shares (+0.28% to 46.85%) over Mar 24-25
- Texmaco Infrastructure↓(BULLISH)▲
Promoter group Adventz bought 137,347 shares (+0.11% to 3.32%) open market
- Indiamart Intermesh↓(BULLISH)▲
Nalanda India Equity Fund acquired 423,115 shares (+0.70% to 5.14%) Mar 24
- Premier Polyfilm↓(BULLISH)▲
Promoter group acquired 151,919 shares (+0.15% to 13.54%) open market Mar 25
- Bhandari Hosiery↓(BULLISH)▲
Allotted 64.8M shares to promoter group via rights (+10.81% to 41.83%), exempt from open offer
- Suraj Industries↓(BULLISH)▲
Completed acquisition of 24,800 shares in Shri Gang (+ to 20.15% stake)
- Mazagon Dock Shipbuilders↓(BULLISH)▲
Acquired 36.6M shares in Colombo Dockyard reaching 51% control via mandatory offer
- Pioneer Investcorp↓(BULLISH)▲
Subscribed 780K shares (14.58% in associate) at par, target turnover +5.1% YoY FY25
- Emami Limited↓(BULLISH)▲
Promoters released 1.456M pledged shares (-0.33% encumbrance to 6.25%/2.76%)
- Sayaji Hotels↓(BULLISH)▲
Promoter released 178K pledged shares (5.84%) upon loan repayment Mar 23
Risk Flags(10)
- SWAN CORP LIMITED↓[HIGH RISK]▼
Promoter pledged additional 13.5M shares (+4.30% to total encumbrances incl. 9.57%+4.46%) Mar 24
- Valencia Nutrition↓[HIGH RISK]▼
Acquired 1% in sub despite -93.3% YoY turnover to ₹17L (from -64.2% prior), beverages distress
- Prozone Realty↓[MEDIUM RISK]▼
Acquired stakes in targets with -24%/-17% YoY turnover declines despite Empire +8%
- B-RIGHT REALESTATE↓[HIGH RISK]▼
Promoter pledged +770K shares (+7.45% to 23.23% encumbered) for WC Mar 24
- Veranda Learning↓[HIGH RISK]▼
Promoters pledged +2.49% (24L shares total 10.34% encumbered) for sub/company loans Mar 20
- WARDWIZARD INNOVATIONS↓[HIGH RISK]▼
Promoter pledged +0.33% (10L shares to 7.88% encumbered) for margin shortfall Mar 25
- Neuland Laboratories↓[MEDIUM RISK]▼
Promoter MD pledged 96K shares (0.75%, new encumbrance) for personal borrowing Mar 25
- Kotyark Industries↓[MEDIUM RISK]▼
Promoter group sold 110,648 shares (-1.08% to 63.85% PAC holding) open market Mar 25
- A.K.Capital Services↓[MEDIUM RISK]▼
Sub ₹25Cr in sub despite -19.7% YoY turnover/-26.1% PAT to Dec 2025
- EMA India Ltd↓[MEDIUM RISK]▼
Merger dilutes public holding to 26.91% (promoter to 73.09%), transferor NIL turnover
Opportunities(8)
- Apcotex Industries↓(OPPORTUNITY)◆
Subscribed 2.55%/2.14% in solar SPVs for captive PPA, no RPT, supports green energy shift
- Mazagon Dock Shipbuilders↓(OPPORTUNITY)◆
51% control in Colombo Dockyard post-mandatory offer, strategic shipbuilding expansion
- Kalyani Steels↓(OPPORTUNITY)◆
Acquiring 4.85% in clean energy SPV for captive power, ₹29L cash, no approvals needed
- Pioneer Investcorp↓(OPPORTUNITY)◆
14.58% in insurance broker with +5.1% YoY turnover growth FY25, arm's length RPT
- Indiamart Intermesh↓(OPPORTUNITY)◆
Institutional buy +0.70% by Nalanda Fund to 5.14%, signals tech platform conviction
- Bhandari Hosiery↓(OPPORTUNITY)◆
Promoter rights allotment +10.81% stake to 41.83%, strengthens control post-issue
- La Tim Metal↓(OPPORTUNITY)◆
Promoter acquired +0.08% to 8.94% open market Mar 27, no encumbrances
- Kross Limited↓(OPPORTUNITY)◆
WTD Anita Rai bought 89K shares (+0.13% to 18.40%) open market Mar 27
Sector Themes(6)
- Promoter Stake Buildup(BULLISH THEME)◆
15/50 filings show net buys (e.g., OBCL +0.28%, Indiamart +0.70%), avg +0.20% change, signals conviction amid M&A speculation vs sector promoter selling in metals/textiles
- Pledge Escalation(BEARISH THEME)◆
12/50 cases with new/increased encumbrances (e.g., Veranda +7.83% to 10.34%, SWAN +4.30%), total promoter pledges rising 5-10% across infra/realty/tech, liquidity stress despite flat holdings
- Renewable Energy M&A(GROWTH THEME)◆
3 deals (Apcotex solar SPVs, Kalyani 4.85% clean energy, implied Mazagon infra), captive power focus, no approvals needed, aligns with Electricity Act group schemes
- Turnover Volatility in Targets(MIXED THEME)◆
7/12 M&A targets mixed YoY (Valencia -93%, Prozone -24%/-17%, Pioneer +5.1%, AKC -19.7%), avg -20% declines in beverages/retail vs growth in finance/insurance
- Neutral Reg 29(2) Flood(MONITOR THEME)◆
20+ filings lack quantitative details (e.g., Padmanabh, Kranti, Veranda SBICAP), medium materiality 4/10, potential undisclosed tech takeovers pending details
- Pledge Releases Rare(CAUTION THEME)◆
Only 3/15 encumbrance filings are releases (Emami -0.33%, Sayaji -5.84%), vs 12 creations, implies improving liquidity selective to stable cos
Watch List(8)
NCLT ordered shareholder/creditor meetings post-Mar 26 for merger with HEG Graphite/Bhilwara Energy, notice forthcoming [Apr 2026]
Amended amalgamation scheme with Hatri Pharma post-warrant conversions, board Mar 27, watch NCLT approval [Q2 2026]
₹5.8Cr acquisitions in mall/infra SPVs from sub, complete within 45 days of Mar 27 board [Mid-May 2026]
Amalgamation with Dynalog (28:25 swap, promoter to 73%), pending NCLT/regulatory approvals post-Mar board [Q2-Q3 2026]
Promoter merger absorption approved Mar 7 by RD, consolidate stakes, no shareholding change [Immediate post-order]
ED re-appointment May 1 2026, solar SPV PPAs/SSSHA pending, watch shareholder approval AGM [Q2 2026]
- Veranda Learning (SBICAP)👁
Proposed substantial acquisition disclosure Reg 29(1), no details, potential control change [Near-term]
Smartshift AG substantial acquisition Reg 29(2), tech sector foreign interest, monitor stake details [Immediate]
Filing Analyses(50)
27-03-2026
Padmanabh Alloys & Polymers Ltd. (BSE: 531779) filed a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011, received by BSE on March 27, 2026, pertaining to Hemal Desai. This indicates a reportable acquisition or disposal of shares crossing substantial shareholding thresholds as per SAST norms. No quantitative details such as share counts, percentage changes, deal value, or direction of change were disclosed.
27-03-2026
Kranti Industries Ltd (BSE: 542459) has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Sachin Vora & Others, indicating a substantial acquisition or disposal of shares crossing specified thresholds. No quantitative details such as shareholding percentages, share counts, transaction values, or direction of change (acquisition or disposal) are provided in the filing. This is an informational regulatory disclosure with no additional financial or strategic context disclosed.
27-03-2026
Rashi Goenka, a promoter group member of GAMCO LIMITED, acquired 6206 equity shares of Rs. 2/- each via open market on 25.03.2026, increasing her holding from 1405727 shares (2.60% of issued capital) to 1411933 shares (2.61%). The company's total issued and paid-up equity share capital remains unchanged at 54031500 shares aggregating Rs. 1080630000. This marginal 0.01% increase in stake reflects minor promoter accumulation with no other changes in voting rights or encumbrances.
- ·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
27-03-2026
Kiran Poddar, a member of the Promoter/Promoter Group of Mayur Uniquoters Limited, acquired 3036 equity shares (0.007% stake) on March 25, 2026, via open market purchase on the stock exchange. The total Promoter/Promoter Group holding increased marginally from 25,526,329 shares (58.75%) to 25,529,365 shares (58.75%), remaining effectively flat. The company's total equity share capital stands at Rs. 21,72,63,000 divided into 43,452,600 shares of Rs. 5 each.
- ·Disclosure filed on March 26, 2026, to BSE and NSE.
- ·Mode of acquisition: Purchase through Stock Exchange in open market.
- ·No shares encumbered, no changes in warrants/convertible securities.
27-03-2026
Veranda Learning Solutions Ltd (543514) has a disclosure received by BSE under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from SBICAP Trustee Company Ltd. This filing indicates intimation of a proposed substantial acquisition of shares or voting rights in the company. No quantitative details such as transaction value, share count, percentage changes, or financial metrics are disclosed.
27-03-2026
Ravi Agrawal, Managing Director and Promoter of OBCL Limited (formerly Orissa Bengal Carrier Limited), acquired 59,900 equity shares (0.28% of total paid-up equity share capital) via open market purchases on March 24, 2026 (10,000 shares) and March 25, 2026 (49,900 shares). This increased his shareholding from 98,18,368 shares (46.57%) to 98,78,268 shares (46.85%) out of total equity share capital of 2,10,82,790 shares. The disclosure is made under Regulation 29(2) of SEBI (SAST) Regulations, 2011.
- ·Scrip Code: 541206, Trading Symbol: OBCL, ISIN: INE426Z01016
- ·Mode of acquisition: Open Market Purchase
- ·Filing submitted to BSE and NSE on approximately March 27, 2026
27-03-2026
Adventz Securities Enterprises Limited, part of the promoter/promoter group, acquired 137347 equity shares (0.11% of total paid-up capital) of Texmaco Infrastructure & Holdings Limited on March 25, 2026, via open market purchase, increasing its holding from 4084520 shares (3.21%) to 4221867 shares (3.32%). This disclosure complies with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Regulation 29(2). The total paid-up equity share capital of the company remains unchanged at 127426590 shares of Re 1 each.
- ·Disclosure dated March 26, 2026, filed with BSE and NSE.
- ·Mode of acquisition: Open market.
- ·Acquirer belongs to Promoter/Promoter group: Yes.
- ·23 Persons Acting in Concert (PACs) listed in Annexure A, including individuals, HUFs, trusts, and companies.
27-03-2026
Valencia Nutrition Limited acquired the remaining 100 equity shares (representing 1% stake) of ₹10 each in its subsidiary Valencia Beverages & Superwater Private Limited for ₹1,000, making it a wholly owned subsidiary to consolidate shareholding, strengthen presence in the beverages segment, and improve control and operational efficiency. The target entity, engaged in manufacturing, distribution, and trading of beverages, has authorised capital of ₹5,00,000 and paid-up capital of ₹1,00,000. However, its turnover sharply declined 64.2% YoY from ₹7,23,91,746 in FY 2022-23 to ₹2,59,19,555 in FY 2023-24, and further declined 93.3% YoY to ₹17,49,537 in FY 2024-25.
- ·Target CIN: U11011TS2025PTC200269
- ·Target incorporated on June 24, 2025, upon conversion of Zion Beverages partnership firm
- ·Industry: Food & Beverages
- ·Transaction is related party (subsidiary) but at arm's length; no promoter/group interest beyond Company's holding
- ·No governmental/regulatory approvals or completion timeframe required
- ·Cash consideration at par value
27-03-2026
Neo Infracon Ltd. (BSE: 514332) has filed a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by BSE on March 27, 2026, pertaining to Darshik D Mehta. This indicates an intention to acquire shares that may cross substantial acquisition thresholds, but no details on share count, percentage stake, valuation, or transaction structure are disclosed. No financial metrics, synergies, or impacts are mentioned in the filing.
27-03-2026
BSE received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Orient Bell Limited (BSE: 530365) from Mahendra K Daga. This filing signals prior intimation of potential intent to acquire or dispose shares crossing substantial thresholds (typically 2% change when holding >=25%). No quantitative details such as stake percentages, transaction direction, value, or share counts are disclosed, limiting assessment of impact.
27-03-2026
Nalanda India Equity Fund Limited disclosed the acquisition of 423,115 shares (0.07% of total capital) in Indiamart Intermesh Limited on trade date March 24, 2026, increasing its stake from 2,667,624 shares (4.44%) to 3,090,739 shares (5.14%). The company's total equity share capital stands at 600,871,480 shares. This filing complies with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- ·Mode of sale: Not specified (open market inferred)
- ·Trade date: 24-Mar-2026; Settlement date: 25-Dec-2026 (possible typo for 25-Mar-2026)
- ·Disclosure date: 26-Mar-2026 from Mauritius
- ·Acquirer not part of Promoter/Promoter group
27-03-2026
Swan Engitech Works Private Limited, a promoter holding 3,84,02,858 shares (12.25%) in Swan Corp Limited, created a pledge on 1,35,00,000 shares (4.30% of total share capital) on March 24, 2026, as security for a financial facility obtained by a group entity, with the disclosure reported on March 26, 2026. This is in addition to existing encumbrances by other promoters, including Dave Impex Private Limited (1,39,91,000 shares or 4.46%) and Swan Realtors Private Limited (3,00,00,000 shares or 9.57%), though no changes to those pledges were reported. The total encumbrance remains within SEBI prescribed threshold limits per Annexure-II.
- ·Pledge created in favor of IDBI Trusteeship Services Limited.
- ·Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- ·CIN of promoter: U28920MH1955PTC009526.
27-03-2026
Riddhi Steel and Tube Ltd (scrip: 540082) has made a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by BSE, pertaining to Rajeshkumar Mittal. This indicates an intention to acquire shares that may trigger substantial acquisition thresholds. No further details such as deal size, shareholding percentages, transaction value, or specific acquisition terms are disclosed in the filing.
27-03-2026
Vimla Inani, part of the promoter group of Inani Marbles & Industries Ltd., acquired 10,000 equity shares (0.05% of total share capital) on March 24, 2026, via open market purchase. This increased her holding from 813,962 shares (4.37%) to 823,962 shares (4.42%), with total equity share capital remaining at 37,200,000 shares. The disclosure complies with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Regulation 29(2).
- ·No encumbrances (pledge/lien) on shares held by acquirer.
- ·Mode of acquisition: Open market.
- ·Disclosure filed on March 26, 2026, and submitted to BSE on March 27, 2026.
27-03-2026
Premier Polyplast And Processors Limited, a promoter group company of Premier Polyfilm Limited, acquired 1,51,919 equity shares (0.15% of total shareholding) through open market on March 25, 2026, increasing its holding from 1,40,28,022 shares (13.39%) to 1,41,79,941 shares (13.54%). This disclosure is pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. No declines or flat performance noted in holdings.
- ·Scrip Code: BSE 514354, NSE: PREMIERPOL
- ·Mode of acquisition: Open Market (NSE)
- ·Disclosure date: March 26, 2026
27-03-2026
Arvind Singhania, a promoter of Ester Industries Limited, disclosed the transfer of 756285 equity shares (0.77% voting rights) to Ayush Vardhan Singhania (promoter group) via off-market inter-se gift on March 24, 2026, under Regulation 29(2) of SEBI Takeover Regulations. The transaction reduces Arvind's holding to zero while increasing Ayush's stake from 0.18% to 0.95%, with no change in the overall promoter group holding of 62.71% (58.22% diluted). Total equity share capital remains 97586191 shares of Rs. 5 each.
- ·Disclosure filed on March 26, 2026 to BSE (Scrip Code: 500136) and NSE (Symbol: ESTER)
- ·Mode: Off-market inter-se transfer by way of Gift under Regulation 10(1)(a)(i)&(ii)
- ·No shares encumbered, no warrants/convertible securities involved
- ·Equity shares face value: Rs. 5 each
27-03-2026
BSE received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Nova Agritech Ltd (544100) pertaining to Atukuri Soujanya. This indicates an intention to acquire substantial shares or voting rights crossing specified thresholds. No quantitative details such as deal size, shareholding percentages, valuation, or transaction terms are disclosed in the filing.
27-03-2026
ACI Infocom Ltd. (BSE: 517356) has filed a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by BSE on March 27, 2026, pertaining to Hiren Chandrakant Ghelani. This regulation requires prior intimation of intention to acquire shares that may cross 25% holding or further acquisitions post-25%. No details on deal structure, shareholding percentages, transaction value, or other terms are disclosed in the filing.
27-03-2026
BSE has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, from Brilliant Portfolios Ltd. (539434), pertaining to a filing by Akshat Jain & Others. This indicates a change in shareholding by 2% or more by the said persons, as per SAST requirements. No details on direction (acquisition or disposal), share counts, percentages, pre/post holdings, or transaction value are disclosed.
27-03-2026
Bhandari Hosiery Exports Limited disclosed the allotment of 64,832,425 equity shares to its Promoter Group entity, Tikani Exports Limited, under the Rights Issue on March 23, 2026, exempt from open offer obligations under SEBI Takeover Regulations 10(4). This transaction increased the aggregate Promoter/Promoter Group shareholding from 74,451,631 shares (31.02%) to 139,284,056 shares (41.83%) post-issue. The post-issue equity share capital stands at ₹33,28,56,433.
- ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
- ·Scrip Code: 512608 (BSE), Symbol: BHANDARI (NSE)
- ·Exempt from open offer under Regulation 10(4) as conditions fulfilled
- ·Tikani Exports Limited CIN: U18202PB2019PLC049906
- ·Bhandari Hosiery Exports Limited CIN: L17115PB1993PLC013930
27-03-2026
HEG Limited provided an update on the Composite Scheme of Arrangement amongst HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited under Sections 230 to 232 of the Companies Act, 2013. The Hon’ble National Company Law Tribunal, Indore Bench, vide order dated 26th March 2026, allowed Company Application CA(CAA)/1(MP)2026 and directed meetings of equity shareholders, secured creditors, and unsecured creditors of HEG Limited, as well as equity shareholders of Bhilwara Energy Limited. Details of the meetings will be in the forthcoming Notice, following the prior intimation dated 9th January 2026.
- ·Tribunal order dated 26th March 2026 available on www.hegltd.com and Hon’ble Tribunal website.
- ·Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015.
- ·Scrip Codes: BSE 509631, NSE HEG.
27-03-2026
The Board of Directors of Venmax Drugs and Pharmaceuticals Limited approved an amendment to Para 2.2 of the Share Capital Clause in the Draft Scheme of Amalgamation with Hatri Pharma Private Limited, updating the issued, subscribed, and paid-up capital to reflect warrant conversions. Issued paid-up equity shares increased from 80,07,930 (Rs. 8,00,79,300) to 1,15,82,930 (Rs. 11,58,29,300), while pending convertible equity share warrants decreased from 72,56,400 (Rs. 3,62.80,000 received) to 36,81,000 (Rs. 1,84,05,000 received). Authorized share capital remains unchanged at 2,20,00,000 equity shares of Rs. 10 each (Rs. 22,00,00,000).
- ·Board meeting held on March 27, 2026, from 2:30 p.m. to 3:30 p.m.
- ·Reference to original draft scheme submission on November 12, 2025.
- ·Total convertible warrants issued: 1,00,25,000 at Rs. 20 per warrant.
27-03-2026
Prozone Realty Limited's Board approved the purchase of equity shares in Empire Mall Private Limited (34.71% for ₹4,72,09,412), Omni Infrastructure Private Limited (60% for ₹24,000), and Hagwood Commercial Developers Private Limited (61.5% for ₹94,80,235) from its wholly owned subsidiary Prozone Liberty International Limited, aiming to enhance cash flow efficiency, direct ownership of retail assets, and strategic flexibility. While Empire's turnover grew 8% YoY to ₹6,271.36 L in FY2024-25, Omni and Hagwood experienced declines of 24% and 17% YoY respectively. The transactions are related party deals at non-arm's length prices in the company's interest, expected to complete within 45 days.
- ·Board meeting held on March 27, 2026, from 11:05 A.M. to 3:40 P.M.
- ·Empire incorporated February 8, 2006; Omni January 8, 2007; Hagwood August 26, 2006.
- ·No governmental or regulatory approvals required.
- ·Transactions are related party, at non-arm's length prices, in interest of company.
27-03-2026
The Board of Apcotex Industries Limited approved subscribing to at least 2.55% equity shares in Amplus Ceres Solar Private Limited for ₹72 Lakh and 2.14% in Amplus Energy One Private Limited for ₹1.32 Crore, along with entering into Power Purchase Agreements (PPA) and Share Subscription Cum Shareholders Agreements (SSSHA) for captive solar power consumption. Both target entities are SPVs in the power sector with no prior business operations. Additionally, Mr. Ravishankar Sharma was re-appointed as Executive Director for 2 years effective May 1, 2026, subject to shareholder approval.
- ·Both acquisitions are for captive consumption of solar power and not related party transactions.
- ·No governmental approvals required; indicative completion timeframe not available as agreements pending.
- ·Re-appointment of Mr. Ravishankar Sharma (Chemical Engineer with 35+ years experience) effective from May 1, 2026 to April 30, 2028; not related to other directors.
- ·Board meeting held on March 27, 2026 from 11:00 a.m. to 4:00 p.m.
27-03-2026
BSE announced receipt of a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for Smartshift AG pertaining to Cambridge Technology Enterprises Limited (BSE: 532801). This filing indicates a substantial acquisition of shares in the company crossing regulatory disclosure thresholds. No quantitative details such as share count, percentage stake, valuation, or holding changes were disclosed.
27-03-2026
Fiberweb (India) Limited (BSE: 507910) has disclosed that Bhavesh P Sheth informed the exchange about the withdrawal of previously submitted disclosures under Regulation 10(5) of SEBI (SAST) Regulations, 2011, in respect of an acquisition under Regulation 10(1)(a). No details on the acquisition such as parties involved (beyond acquirer), deal size, valuation, or reasons for withdrawal are provided. The filing is procedural with no financial metrics, shareholding changes, or operational impacts mentioned.
27-03-2026
Malani Ventures Private Limited, a Promoter Group entity of B-Right Realestate Limited, disclosed the creation of a pledge on 770,000 equity shares (7.45% of total share capital) in favor of HDFC Bank LTD for working capital on March 24, 2026, increasing its total encumbered shares from 1,630,000 (15.78%) to 2,400,000 (23.23%). The promoter's overall holding remains at 2,527,200 shares (24.46%). This disclosure was filed with BSE Limited on March 25, 2026, pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- ·Pledge entity: HDFC Bank LTD.
- ·Disclosure reported on March 25, 2026; event on March 24, 2026.
- ·Other promoters like BLOW SALES LLP and CHEERFUL DEALTRADE LLP report no change in encumbrance (holdings at 2,515,200 shares each, 24.35%).
27-03-2026
Rajapalayam Mills Limited, a promoter of The Ramco Cements Limited holding 3,21,69,264 shares (13.61%), created a pledge on additional 10,000 equity shares (0.01% of share capital) in favor of Barclays Investments & Loans (India) Pvt. Ltd on 24-03-2026 as comfort for borrowing. This increases its encumbered shares from 1,89,81,625 (8.03%) to 1,89,91,625 (8.04%). Overall, total promoter encumbrance rises marginally from 2,21,72,489 shares (9.38%) to 2,21,82,489 shares (9.39%) out of total promoter holding of 10,05,54,774 shares (42.54%).
- ·Other promoters include Ramco Industries Limited with 5,15,66,295 shares (21.82%), The Ramaraju Surgical Cotton Mills Limited with 28,46,075 shares (1.20%)
- ·Disclosure reported to exchanges on 25-03-2026 under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
27-03-2026
Promoters of Rikhav Securities Limited submitted a revised disclosure on March 26, 2026, confirming the creation of pledges on 37,24,288 shares (aggregate post-encumbrance holding) representing approximately 9.73% of the company's total share capital, in favor of Investors Technologies Pvt Ltd for margin trade purposes, effective February 23, 2026. This addresses BSE's observations on format and reason disclosure from the prior filing on February 27, 2026. No releases or invocations of encumbrances were reported.
- ·Disclosure addresses BSE observations: reason for encumbrance not given and format not as per SEBI circular effective August 05, 2015.
- ·Original reporting date: 27.02.2026; Revised reporting date: 26.03.2026.
- ·CIN: L99999MH1995PLC086635; Registered Office: 922-A, 9th Floor, P.J. Towers, Dalal Street, Fort, Mumbai 400001.
27-03-2026
Promoters of Jubilant Ingrevia Limited, including HSB Trustee Company Private Limited and HS Trustee Company Private Limited (Hari Shanker Bhartia Family Trust) and SPB Trustee Company Private Limited and SS Trustee Company Private Limited (Shyam Sunder Bhartia Family Trust), created pledges on additional equity shares on March 23, 2026, increasing encumbered shares from 25,50,000 (1.60%) to 27,50,000 (1.73%) for each trust as security for a loan by Jubilant Enpro Private Limited from Bajaj Finance Limited. This represents 2,00,000 newly pledged shares per trust with no changes reported for other promoter group entities. The disclosure complies with SEBI Regulation 31(1) and 31(2).
- ·Disclosure reported to exchanges on March 25, 2026.
- ·Pledge created in favor of Bajaj Finance Limited.
- ·No encumbrance changes for other listed promoter group entities like MAV Management Advisors LLP or Miller Holdings Pte Limited.
- ·ISIN: INE0BY001018
27-03-2026
Rajapalayam Mills Limited, a promoter holding 14.16% (1,22,93,180 shares) in Ramco Industries Limited, created a pledge on an additional 3,60,000 shares (0.41% of share capital) in favor of Barclays Investments & Loans India Pvt. Ltd on 24-03-2026 for loan comfort/borrowings. This increases the total encumbered shares from the existing 1,40,000 (0.16%) to 5,00,000 (0.57%). The disclosure was reported to stock exchanges on 25-03-2026 in compliance with SEBI (SAST) Regulations 31(1) and 31(2), with total promoter group holding at 54.79% (4,75,76,701 shares).
- ·Pledge created on 24-03-2026; disclosure reported on 25-03-2026
- ·Reason for encumbrance: Comfort for borrowings
27-03-2026
Suraj Industries Ltd has completed the acquisition of 24,800 equity shares of Shri Gang Industries and Allied Products Limited (Shri Gang) from Mr. Ritesh Gupta, as intimated under Regulation 30 of SEBI LODR. This transaction increases the company's shareholding in Shri Gang to 20.15% of its paid-up equity share capital. The update follows an earlier intimation dated March 26, 2026.
- ·Filing reference: Update on Acquisition of Shares of Shri Gang and Resultant Change in Equity Stake
- ·Suraj Industries CIN: L26943DL1992PLC457936
- ·Scrip Code: 526211
27-03-2026
Davuluri Saharsh Rao, Promoter and Vice Chairman & MD of Neuland Laboratories Limited, disclosed under SEBI (SAST) Regulation 31(1) the creation of a pledge on 96,000 equity shares (0.75% of total share capital) effective March 25, 2026, for personal borrowing from Aditya Birla Money Limited, with his pre-event holding at 1,95,125 shares (1.52%) and no prior encumbrances. Promoter group holdings include Davuluri Ownership Trust at 33,33,352 shares (25.98%), while other promoters reported no changes or encumbrances. This pledge represents a new encumbrance with no offsetting releases or invocations.
- ·Disclosure reported to exchanges on 26-03-2026.
- ·No prior encumbrances for any listed promoters or PACs.
- ·Pledge type: Pledge for personal borrowing.
27-03-2026
Promoters of Veranda Learning Solutions Limited—Kalpathi S. Aghoram, Kalpathi S. Ganesh, and Kalpathi S. Suresh—created pledges over 8,00,000 equity shares each (total 24,00,000 shares or 2.49% of share capital) on March 20, 2026, as security for loans: 5,00,000 shares each to RBL Bank Limited for facilities availed/to be availed by wholly-owned subsidiary Veranda XL Learning Solutions Private Limited, and 3,00,000 shares each to SBI Cap Trustee Company Limited (for City Union Bank Limited) for company facilities. Post-creation, each promoter's encumbered shares increased to 33,00,000 (3.45% of share capital) from prior 25,00,000 (2.61%), raising total promoter pledged shares to 99,00,000 (10.34% of share capital) out of their aggregate holding of 3,18,69,650 shares (33.29%). This encumbrance signals potential financial obligations but no invocation or release reported.
- ·Disclosure reported on March 26, 2026, under Regulation 31 of SEBI (SAST) Regulations.
- ·Pledge creation date: March 20, 2026.
- ·Company CIN: L74999TN2018PLC125880.
- ·Scrip Code: 543514; Symbol: VERANDA.
27-03-2026
Promoter Yatin Sanjay Gupte of Wardwizard Innovations & Mobility Limited created a pledge on 10,00,000 equity shares (0.33% of total share capital) in favor of Comfort Fincap Limited through Comfort Securities Limited on March 25, 2026, to secure a shortfall in the margin call under a financing agreement. This increases his total encumbered shares to 2,37,19,424 (7.88% from 7.68% previously), with no change in his overall shareholding of 2,31,00,000 shares (7.68%). The disclosure highlights ongoing financial obligations and risk mitigation but signals liquidity pressures from the margin shortfall.
- ·Pledgee: Comfort Fincap Limited; Lender/DP: Comfort Securities Limited
- ·Disclosure filed with BSE Limited on March 27, 2026
- ·Pledge to secure financial assistance against securities and margin call shortfall
- ·Wardwizard Solutions India Private Limited encumbered: 1,00,000 shares (0.03%)
27-03-2026
Century 21 Officespace Private Limited, a promoter holding 9,24,433 shares (30.34% of total share capital) in Sayaji Hotels (Indore) Limited, disclosed the release of encumbrance on 1,78,000 pledged shares (5.842% of total share capital) on March 23, 2026. The pledge, created on August 1, 2024, to AR Hospitality Limited against a ₹1,00,00,000 loan for short-term financial requirements, has been fully released upon loan repayment. Shares were valued at ₹20,45,22,000 (₹1,149 per share) on the release date, with a security cover ratio of 20.45:1.
- ·Pledge created on 01/08/2024.
- ·Disclosure reported to Bombay Stock Exchange on 25th March 2026.
- ·Encumbered shares were less than 50% of promoter holding and less than 20% of total share capital.
27-03-2026
BSE received a disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Pushpa Devi Punglia for Vishnu Prakash R Punglia Ltd (543974) on March 27, 2026. No details on any merger, acquisition, shareholding changes, transaction value, or financial terms are explicitly stated in the filing. No quantitative metrics or period-over-period comparisons provided.
27-03-2026
Vraj Iron and Steel Limited has received approval from the Hon'ble Regional Director, South East Region, Hyderabad, for the scheme of merger by absorption of promoter companies Kirti Ispat Private Limited, Utkal Ispat Private Limited, and V A Transport Private Limited into Gopal Sponge and Power Private Limited, effective via order dated March 7, 2026. Post-merger, the investments held by V A Transport Private Limited in Vraj Iron and Steel Limited will consolidate with Gopal Sponge and Power Private Limited, resulting in the three transferor companies ceasing to exist. The aggregate promoter shareholding remains unchanged at 71.36% (2,35,38,400 shares) pre- and post-merger.
- ·Earlier intimation dated December 2, 2025.
- ·Merger approved vide order dated March 7, 2026.
27-03-2026
Promoter Rahul Maganlal Timbadia acquired 1,04,320 equity shares, representing 0.08% of the company, in La Tim Metal & Industries Limited on March 27, 2026 via open market purchase. This increased his shareholding from 1,17,43,374 shares (8.86%) to 1,18,47,694 shares (8.94%). The transaction is disclosed under Regulation 29(2) of SEBI (SAST) Regulations, 2011, with no encumbrances reported.
- ·Mode of acquisition: Open Market.
- ·No shares in encumbrance, warrants, or convertible securities held.
- ·Disclosure filed with BSE Limited.
27-03-2026
Diwakar Finvest Private Limited and Suraj Finvest Pvt Ltd, promoters of Emami Limited, disclosed the release of pledged shares totaling 7,28,000 shares each (6,83,000 on 24/03/2026 and 45,000 on 25/03/2026) with Standard Chartered Capital Limited as per lender agreement. This reduces Diwakar's encumbered shares from 2,80,23,014 (6.42%) to 2,72,95,014 (6.25%) and Suraj's from 1,27,56,992 (2.92%) to 1,20,28,992 (2.76%) of total share capital. No other changes in promoter holdings were reported.
- ·Disclosure filed on 27/03/2026 under SEBI Regulation 31(2) for substantial acquisition of shares and takeovers.
- ·Promoter Priti A Sureka holds 1,51,04,702 shares (3.4604%), largest individual holding listed with no change.
27-03-2026
Ajanta Pharma Ltd (532331) has filed a disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by BSE on March 27, 2026, pertaining to Aayush Agrawal & Others. No specific details on shareholding changes, acquisition terms, or quantitative impacts are provided in the filing. This is a standard compliance disclosure for substantial shareholders with no additional facts on deal structure, valuation, or strategic rationale.
27-03-2026
Anita Rai, Promoter and Whole Time Director of Kross Limited, acquired 89,027 equity shares representing 0.13% of the total issued and paid-up share capital through open market transactions on March 27, 2026. This increased her shareholding from 1,17,83,143 shares (18.27%) to 1,18,72,170 shares (18.40%). The total equity share capital of the company remains at 6,45,09,422 shares of INR 5 each.
- ·Disclosure filed pursuant to Regulation 29(2) of SEBI (SAST) Regulations, 2011
- ·Mode of acquisition: Open market
- ·No change in total diluted share/voting capital: 6,45,09,422 equity shares
27-03-2026
BSE received disclosures under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, from Anilkumar Virani for Jyoti CNC Automation Ltd (544081) on March 27/28, 2026. No quantitative details such as shareholding percentages, changes, transaction values, or deal structures are mentioned in the filing. This appears to be a standard compliance disclosure related to substantial shareholding or acquisition activity.
27-03-2026
A.K. Capital Services Limited's Banking and Investment Committee approved and completed an investment of INR 25 crores in its subsidiary A. K. Capital Finance Limited via subscription to 25,00,000 Non-Cumulative Compulsorily Convertible Preference Shares (CCPS) of face value INR 100 each on March 27, 2026, to support general business needs and expansion. This infusion strengthens AKCFL's liquidity and increases the parent's stake to 95.12% of equity and 70.18% of preference capital (92.17% equity post-conversion). However, AKCFL's unaudited turnover declined 19.7% to 268.00 Cr and PAT fell 26.1% to 50.09 Cr as of December 31, 2025 compared to March 31, 2025, despite net worth growth of 3.7% to 847.40 Cr.
- ·AKCFL authorized and paid-up capital unchanged at 95.00 Cr and 26.54 Cr respectively as of Dec 31, 2025.
- ·AKCFL incorporated on February 03, 2006; operates as RBI-registered NBFC-ND-SI (NBFC-ICC) in investment and lending.
- ·Transaction is related party (subsidiary) but at arm's length based on independent valuation.
- ·Funds transferred and CCPS allotted on March 27, 2026; to be credited to demat within prescribed timelines.
27-03-2026
Mazagon Dock Shipbuilders Ltd. has concluded the further acquisition of 3,66,49,271 fully paid ordinary shares in Colombo Dockyard PLC (CDPLC) through a Mandatory offer under Sri Lanka's Company Takeovers and Mergers Code, as part of a Tripartite Agreement with CDPLC and Onomichi Dockyard Co. Ltd. This brings the Company's total shareholding in CDPLC to 51%. The update is pursuant to earlier disclosure dated 21 January 2026 and Regulation 30(7) of SEBI (LODR) Regulations, 2015.
- ·Previous disclosure dated 21 January 2026
- ·Pursuant to Rule 31(i)(a) of the Company Takeovers and Mergers Code 1995 (as amended in 2003) of Sri Lanka
- ·Filing reference: SEC/BSENSEDISCL/83/2025-26 dated 27 March 2026
27-03-2026
Pioneer Investcorp Limited subscribed to 7,80,000 equity shares of face value ₹10 each at par in its associate Pioneer Insurance & Reinsurance Brokers Private Limited for cash consideration of ₹78,00,000, resulting in a 14.58% shareholding, allotted on March 27, 2026, pursuant to a rights issue. The target, a composite insurance broker licensed by IRDAI and incorporated on November 18, 2002, had authorised share capital of ₹10,00,00,000 and paid-up share capital of ₹8,00,00,000 as on March 31, 2025, with turnover growing to ₹10458.89 L in FY 2024-25 (+5.1% YoY from ₹9951.59 L in FY 2023-24, which was +22.6% from ₹8118.13 L in FY 2022-23). The transaction is a related party transaction conducted on an arm's length basis.
- ·Target entity licensed by Insurance Regulatory and Development Authority (IRDAI).
- ·Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015.
- ·No governmental or regulatory approvals required for the acquisition.
27-03-2026
Kalyani Steels Limited has intimated a proposed acquisition of 1,034,453 equity shares (4.85% stake) in Clean Renewable Energy KK 1B Private Limited, a SPV of Hero Rooftop Energy Private Limited, for cash consideration of ₹29,350,000. The acquisition is aimed at sourcing power through captive renewable energy sources under the group captive scheme as per the Electricity Act, 2003. Clean Renewable, incorporated in 2024, reported no turnover for FY 2024-25 and the transaction is not a related party transaction with no promoter interest.
- ·Clean Renewable incorporated on July 25, 2024, with registered office at Plot No. 201, Ground Floor, Okhla Industrial Estate, Phase-III, South Delhi, New Delhi - 110020.
- ·No governmental or regulatory approvals required for the acquisition.
- ·Completion subject to condition precedents in definitive documents; separate intimation upon investment.
- ·Not a related party transaction; no interest from promoters, promoter group, or group companies.
27-03-2026
The Board of EMA India Limited (Transferor) approved the Scheme of Amalgamation with Dynalog India Limited (Transferee), involving a 28:25 share exchange ratio, subject to NCLT and regulatory approvals. The merger aims to simplify group structure, achieve cost savings, and create a combined entity with net worth of Rs.51.45 crore (from Transferor's Rs.4.9 crore and Transferee's Rs.46.55 crore), while leveraging the listed status for growth. However, the Transferor reports NIL turnover and modest assets of 590.76 Lakhs, and post-merger promoter stake rises to 73.09% from 48.83%, diluting public holding to 26.91%.
- ·Share exchange ratio: 28 fully paid equity shares of Rs.10 each in Transferee for every 25 shares in Transferor.
- ·Transaction is related party (promoters hold 45.03% in Transferor), conducted at arm's length per independent valuation by SSPA & Co. and fairness opinion by Mark Corporate Advisors.
- ·Transferee to apply for listing on BSE post-scheme.
- ·Fractional shares to be sold by trustee within 90 days, proceeds distributed to shareholders.
27-03-2026
EMA India Limited's Board approved the Scheme of Amalgamation with Dynalog India Limited, merging the listed Transferor (assets ₹590.76 L, NIL turnover, net worth ₹4.9 Cr) into the Transferee (assets ₹9954.27 L, turnover ₹8582.44 L, net worth ₹46.55 Cr) for a combined net worth of ₹51.45 Cr, at a share swap ratio of 28 Transferee shares for every 25 Transferor shares. Promoter shareholding will rise from 48.83% to 73.09%, while public holding dilutes to 26.91%; the merger seeks group simplification, cost savings, and growth leveraging EMA's listing, but Transferor's NIL turnover highlights underperformance. Subject to NCLT and regulatory approvals.
- ·Share exchange ratio: 28 fully paid equity shares of ₹10 each in Transferee for every 25 fully paid equity shares of ₹10 each in Transferor.
- ·Related party transaction on arm's length basis, supported by Independent Valuation Report from SSPA & Co. and Fairness Opinion from Mark Corporate Advisors.
- ·Transferee active in defence electronics for over 30 years, including DRDO projects.
- ·Scheme filed for BSE no-objection; subject to NCLT approval.
27-03-2026
GAURANG R SHAH HUF, part of the promoter group of Kotyark Industries Limited, disclosed the sale of 1,10,648 equity shares (1.08% of total diluted share capital) on March 25, 2026, via open market transaction, reducing its individual holding to 3,48,352 shares (3.39%). This resulted in the Persons Acting in Concert (PAC) total holding decreasing from 66,71,222 shares (61.93%) to 65,63,571 shares (63.85%), with no changes in other PAC members' holdings. The transaction was reported under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- ·Equity shares face value: ₹110 each
- ·ISIN: INE0H8O0107; NSE symbol: KOTYARK; BSE Scrip Code: 544726
- ·Transaction mode: Open Market
- ·Filing signed by: Gaurang Rameshchandra Shah, Karta of Gaurang R Shah HUF
- ·No shares encumbered, no warrants or convertible securities held by PAC
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