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India Technology Sector Merger & Acquisition Filings — April 09, 2026

India Tech M&A Activity

1 high priority38 medium priority39 total filings analysed

Executive Summary

Across 39 filings in India Tech M&A Activity stream, a dominant theme is promoter stability with 25+ routine Reg 31(4) disclosures confirming no new encumbrances or pledges for FY ended March 31, 2026 (e.g., CMI Ltd, Radhika Jeweltech, United Leasing), signaling low distress and management conviction amid stable holdings. Selective strategic M&A highlights include Thermax's 51% stake in Exactspace (completed Apr 9), Monarch Surveyors' AUD 1.81M acquisition of Australian firm with 12.5% YoY revenue growth to AUD 1.8M and FY26 proj AUD 2.2M, Jauss Polymers' 40.04% stake grab by Noize Brands, and overseas expansions like S.P Apparels' USD 0.65M in Sri Lanka sub and Zim Labs' AUD 0.135M in ZIMTAS (99.96% stake). Period trends show modest growth where disclosed: Monarch +12.5% YoY revenue, Steel Strips Wheels' EUPL target +4.2% YoY turnover to Rs 12,148L; however, Neon Hybren (M&M) reports nil revenue and PAT loss of Rs 9.23L. Pledge activities mixed: NRB Bearings net +1.14% encumbrance despite releases, Mangalam new 1.05% pledge. Portfolio-level: Neutral sentiment prevails (70% filings), with positive M&A catalysts in engineering/tech services/renewables; implications include alpha from completion milestones and stake buildups, but watch high promoter pledges (NRB 73.91%).

Tracking the trend? Catch up on the prior India Technology Sector Merger & Acquisition Filings digest from April 02, 2026.

Investment Signals(11)

  • Acquired 100% of Australian GM & FE Ryan (AUD 1.81M cash, debt-free, FY25 rev +12.5% YoY to AUD 1.8M, FY26 proj AUD 2.2M, 80% retention), strategic entry to govt panels

  • Thermax(BULLISH)

    Completed 35.83% stake in Exactspace (total 51% subsidiary), post-Feb intimation, no financials but signals tech expansion conviction

  • Noize Brands + PAC acquired 40.04% (18.51L shares off-market Feb 26), from nil, to become promoter post-open offer

  • ICRA(BULLISH)

    Nippon India MF + funds open market buy +1.50% (1.45L shares Jul'25-Apr'26, total 8.39%), institutional conviction

  • Invested Rs 89.45L (AUD 0.135M) in ZIMTAS for 99.96% stake, per prior approvals, overseas tech foothold

  • Promoter group Retaggio Ventures converted warrants to 2.7L shares (1.46%, Rs 52.65L Apr 7), holding buildup

  • Rs 6.02Cr equity in 100% Sri Lanka sub SPAIPL (turnover 1.87M LKR Mar'25), garment expansion

  • Ms. Krupa acquired 12.39% (4.65L shares Mar 27), from 0%, exempt under SAST Reg 10

  • NRB Bearings(MIXED-BEARISH)

    Promoter pledge net +1.14% (to 5.04%) despite releases, but asset cover 3.19x loans

  • Promoter/holding co amalgamation approved Apr 9, synergies + structure simplification, no control change

  • 25+ Companies (e.g., CMI, Radhika, United Leasing, RLF)(BULLISH)

    Annual Reg 31(4) no-encumbrance disclosures FY26, stable promoter holdings (e.g., RLF 57.55%) signal conviction

Risk Flags(8)

  • NRB Bearings/Pledge Increase[HIGH RISK]

    Trilochan Singh Sahney Trust net +1.14% encumbrance (to 5.04%, total promoter 73.91% pledged post-adjustments Mar27-Apr7), high leverage despite 3.19x cover

  • Promoter Wardwizard pledged 1.05% (15M + 1.5Cr shares Apr7) to Blacksoil for group funding, from 0

  • NRB Bearings/High Promoter Pledge[HIGH RISK]

    Post-release/re-pledge, 36.68M shares (37.84% total capital) encumbered, >50% promoter holding

  • Promoter BCP Asia (65.19%) locked 100% shares to NHB till refinance repayment, restricts liquidity

  • 26% stake in Neon Hybren (up to Rs 11.17Cr), target FY25 nil rev + PAT loss Rs 9.23L, dilutes MSPL to 74%

  • GIC/GOS/MAS sold 0.055% (1.67L shares Apr7 open market), minor trim from 6.46%

  • Boolean Ventura substantial acquisition/disposal under Reg 29(2), no details on size/thresholds

  • M Prasad & Co Reg 29(2) intent to acquire >5%, no quantitative details

Opportunities(9)

Sector Themes(6)

  • Promoter Stability/No New Pledges

    28/39 filings (e.g., CMI, Deco-Mica, Sanghvi x2, Indogulf) Reg 31(4) confirm nil encumbrances FY26, vs prior stable; implies low leverage/distress in tech/light mfg, bullish conviction

  • Strategic Overseas M&A

    4 deals (Monarch AUD1.81M +12.5%YoY rev, S.P USD0.65M, Zim AUD0.135M 99.96%stake, Thermax Exactspace); avg target growth +12%, entry to Aus/Sri Lanka panels/tech

  • Pledge Adjustments Mixed

    NRB/Mangalam/Aadhar new/increased encumbrances (net +1-1.05%, high 73% promoter), but releases in NRB optimize costs; 3/39 signal leverage watch vs 25+ clean

  • Subsidiary Investments/Renewables

    M&M Neon 26% Rs11.17Cr (captive solar), Steel Strips EUPL +1.76% wind power (target +4%YoY); trend to group captive for cost savings, low materiality but ESG alpha

  • Stake Buildups/Open Offers

    Jauss 40%, ICRA +1.5% insti, Retaggio warrant conversion 1.46%, Swashthik 12.39%; 5/39 >5% crosses, potential control premiums

  • Scheme/Listing Catalysts

    Sical amalgamation, Asian Granito listing 64.6M shares Apr9 (ASIANTILES), Lyka NCLT effective Apr8; simplification + liquidity unlocks

Watch List(8)

Filing Analyses(39)
CMI LtdMerger/Acquisitionneutralmateriality 4/10

09-04-2026

CMI Ltd submitted yearly disclosures under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, from its Promoter and Promoter Group/PAC for the financial year ended March 31, 2026, to BSE and NSE. The disclosure was filed on April 8, 2026, by Company Secretary Tanya. No specific shareholding changes or financial details were provided in the notice.

Radhika Jeweltech LimitedMerger/Acquisitionneutralmateriality 3/10

09-04-2026

Promoters of Radhika Jeweltech Limited disclosed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, that they made no encumbrance of shares, directly or indirectly, during the financial year ended March 31, 2026. They confirmed that nil shares are encumbered or pledged as on March 31, 2026. This filing maintains the status quo with no changes in promoter share encumbrances.

  • ·Stock codes: BSE - 540125, NSE - RADHIKAJWE
  • ·Disclosure covers promoters/promoter group/PAC
  • ·Filing date: April 09, 2026
United Leasing & Industries LtdMerger/Acquisitionneutralmateriality 3/10

09-04-2026

United Leasing & Industries Limited submitted an annual disclosure under Regulation 31(4) of SEBI (SAST) Regulations, 2011, from promoter Ashish Khanna on behalf of promoters and promoter group, confirming no encumbrance of shares directly or indirectly during the financial year ended March 31, 2026. Key promoter shareholdings include Aditya Khanna (497,367 shares, 16.58%), Ashish Khanna (497,148 shares, 16.57%), and Anoop Kumar Khanna (138,350 shares, 4.61%), with no changes in encumbrance status reported.

  • ·Disclosure dated April 2, 2026, submitted to BSE on April 9, 2026.
  • ·No encumbrance on any promoter or promoter group shares during FY ended March 31, 2026.
  • ·Company CIN: L17100HR1983PLC033460; BSE Scrip Code: 507808.
RLF Ltd.Merger/Acquisitionneutralmateriality 4/10

09-04-2026

RLF Limited submitted the annual disclosure under Regulation 31(4) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, from promoter Aditya Khanna on behalf of promoters, promoter group, and persons acting in concert (PAC). The disclosure details their aggregate shareholding of 5,749,303 shares (approximately 57.55%) as of March 31, 2026, and confirms no encumbrance of shares, directly or indirectly, during the financial year ended March 31, 2026. No changes in shareholding patterns or encumbrances were reported.

  • ·Promoters hold 10.75% (1,073,980 shares) individually.
  • ·Promoter Group holds 46.80% (4,675,323 shares).
  • ·Disclosure dated April 6, 2026; company filing dated April 9, 2026.
Deco-Mica Ltd.Merger/Acquisitionneutralmateriality 3/10

09-04-2026

Deco-Mica Ltd. submitted annual disclosures under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 for the financial year ended March 31, 2026, to BSE Limited. Vijaykumar Agarwal, Managing Director, CEO, and Promoter, declared on behalf of all Promoters and Promoter Group that no encumbrances of shares were made, directly or indirectly, during the year. This nil disclosure confirms no changes in promoter share encumbrances.

  • ·CIN: L20299GJ1988PLC010807
  • ·Scrip Code: 531227
  • ·Filing Date: April 09, 2026
Monarch Surveyors and Engineering Consultants LimitedMerger/Acquisitionpositivemateriality 9/10

09-04-2026

Monarch Surveyors and Engineering Consultants Limited's Board authorized the execution of a binding agreement to acquire 100% equity of GM & FE Ryan Pty Ltd (trustee of GMR Engineering Services Unit Trust), an Australian engineering consulting firm with 12 full-time employees, FY2025 revenue of AUD $1.8 million (up 12.5% YoY from AUD $1.6 million), and assets valued at AUD $310,700, for a total cash consideration of AUD $1,810,000. The debt-free target offers strategic entry into Australia's engineering market with access to government panels, 80% client retention, and projected FY2026 revenue of AUD $2.2 million. Completion is targeted for May 22, 2026, subject to due diligence and regulatory approvals including FIRB and RBI ODI.

  • ·Debt-free target with zero debt and 100% owned assets
  • ·Not a related party transaction; arm's length terms
  • ·Source of funds: internal accruals post-IPO or bank term loan (no IPO proceeds used)
  • ·Expected revenue impact: AUD $1.76M–$1.84M in FY2026, growing to AUD $2.14M–$3.22M by FY2030 under 3 scenarios
  • ·Key regulatory approvals: RBI ODI filings, FIRB, SEBI LODR disclosures
  • ·Indicative milestones: Binding Agreement by April 17, 2026; SPA by May 15, 2026; ASIC changes by June 15, 2026
Sanghvi Brands LimitedMerger/Acquisitionneutralmateriality 3/10

09-04-2026

Sanghvi Brands Limited filed an annual disclosure under Regulation 31(4) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, confirming that promoter Darpan Narendra Sanghvi made no encumbrance on his shares, directly or indirectly, during FY 2025-2026. As of March 31, 2026, he holds 5499945 equity shares. The disclosure indicates no change in encumbrance status.

  • ·BSE Scrip Code: 540782, Symbol: SBRANDS, ISIN: INE204Y01010
  • ·Disclosure submitted to BSE Limited on April 09, 2026; signed by promoter on April 08, 2026
Thermax LimitedMerger/Acquisitionpositivemateriality 9/10

09-04-2026

Thermax Limited has completed the acquisition of a 35.83% stake (on a fully diluted basis) in Exactspace Technologies Private Limited through Definitive Agreements, increasing its total shareholding to 51% and making Exactspace a subsidiary. The transaction closed on April 9, 2026 at 5.43 p.m. IST, following an earlier intimation on February 27, 2026. No financial details or performance metrics were disclosed in the filing.

  • ·Intimation under Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • ·Company Scrip Codes: 500411 (BSE), THERMAX EQ (NSE)
  • ·Transaction completion time: 5.43 p.m. (IST) on April 9, 2026
Tata Steel LimitedMerger/Acquisitionpositivemateriality 2/10

09-04-2026

Tata Steel Limited completed the acquisition of the remaining 10,000 equity shares (0.01% stake) in Tata Steel Colors Private Limited (formerly Tata BlueScope Steel Private Limited) for ₹0.03 crore on April 9, 2026, from BlueScope Steel Asia Holdings Pty Ltd. This increased the Company's shareholding from 99.99% to 100%, making TSCPL an indirect wholly owned subsidiary as per the Share Purchase Agreement dated November 12, 2025. No other financial impacts or declines reported.

  • ·Previous disclosures dated December 31, 2025 and November 12, 2025
  • ·Share Purchase Agreement executed on November 12, 2025
  • ·Disclosure in compliance with Regulations 30 and 51 of SEBI (LODR) Regulations, 2015
S. P. Apparels LimitedMerger/Acquisitionpositivemateriality 6/10

09-04-2026

S.P Apparels Limited invested ₹6,01,63,090 (USD 6,50,000) as equity in its wholly owned subsidiary S.P Apparels International Private Limited (SPAIPL) on April 9, 2026, to expand garment manufacturing operations in Sri Lanka. SPAIPL, incorporated on October 16, 2023, reported turnover of 1,872,585 LKR as of March 2025. The transaction is a related party deal at arm's length, with promoters Mr. P. Sundararajan and Mr. S. Chenduran serving as directors in SPAIPL.

  • ·SPAIPL incorporated on 16.10.2023 in Sri Lanka
  • ·Shareholding in SPAIPL: 100% prior and post transaction
  • ·Transaction completion date: 09.04.2026
  • ·No governmental or regulatory approvals required
Sanghvi Brands LimitedMerger/Acquisitionneutralmateriality 3/10

09-04-2026

Sanghvi Brands Limited disclosed the annual report under Regulation 31(4) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, from promoter Ms. Disha Narendra Sanghvi. She confirmed holding 69,011 equity shares as on March 31, 2026, with no encumbrance directly or indirectly during FY 2025-2026. This routine disclosure indicates no changes in promoter share pledges or encumbrances.

  • ·BSE Scrip Code: 540782; Symbol: SBRANDS; ISIN: INE204Y01010
  • ·Disclosure dates: April 08, 2026 (promoter) and April 09, 2026 (company filing)
  • ·CIN: L74999PN2010PLC135586
Sical Logistics LimitedMerger/Acquisitionpositivemateriality 7/10

09-04-2026

On April 09, 2026, the boards of Pristine Malwa Logistics Park Private Limited (promoter and holding company of Sical Logistics Limited) and Pristine Logistics & Infraprojects Limited (promoter group entity and ultimate holding company) approved a Scheme of Amalgamation under Section 233 of the Companies Act, 2013. The scheme aims to achieve greater integration, financial strength, economies of scale, operational synergies, and simplification of corporate structure with no change in aggregate promoter/promoter group holding, management, or control of Sical Logistics Limited. The transaction is exempt from SEBI Takeover Regulations and requires shareholder/creditor approvals.

  • ·Promoter is a wholly owned subsidiary of Promoter Group Entity; both engaged in logistics sector.
  • ·No change in issued and paid-up share capital of Promoter Group Entity or Sical Logistics Limited.
  • ·Promoter to stand dissolved without winding up upon scheme effectiveness.
TEAM24 CONSUMER PRODUCTS LIMITEDMerger/Acquisitionneutralmateriality 3/10

09-04-2026

Team24 Consumer Products Limited (formerly Kore Foods Limited) submitted a yearly disclosure under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirming that promoters and promoter group, including persons acting in concert, made no new encumbrances of shares during the financial year ended March 31, 2026. The disclosure was filed with BSE Limited on April 09, 2026, by Company Secretary Pooja Gopal Shirodkar and separately by Team 24 Foods & Beverages Pvt Ltd director Sachin Rane.

  • ·CIN: L33208GA1983PLC000520 for Team24 Consumer Products Limited
  • ·CIN: U15100GA2017PTC013226 for Team 24 Foods & Beverages Pvt Ltd
  • ·Script Code: 500458
ICRA LimitedMerger/Acquisitionneutralmateriality 8/10

09-04-2026

Nippon India Mutual Fund (through Nippon Life India Trustee Limited), Pari Washington India Master Fund, Ltd., and Pari Washington Investment Fund disclosed under SEBI Regulation 29(2) an open market acquisition of 1,44,959 shares (1.5020%) in ICRA Limited, increasing their combined holding from 6,64,324 shares (6.8833%) to 8,09,283 shares (8.3853%). The acquisitions occurred from July 08, 2025 to April 07, 2026. ICRA Limited's total equity share capital remains Rs. 9,65,12,310/- comprising 96,51,231 shares at Rs. 10 face value.

  • ·Mode of acquisition: Open Market
  • ·Disclosure date: April 09, 2026
  • ·No encumbrances, warrants, or convertible securities involved
  • ·Acquirer not part of Promoter/Promoter group
Retaggio Industries LimitedMerger/Acquisitionneutralmateriality 6/10

09-04-2026

Retaggio Ventures LLP, a promoter group entity of Retaggio Industries Ltd (Scrip Code: 544391, ISIN: INEOKWJ01014), acquired 270,000 equity shares through conversion of warrants on April 7, 2026, at a transaction value of ₹52,65,000, resulting in a post-acquisition holding of 270,000 shares representing 1.46% of the company's shareholding. The disclosure was made under Regulation 7(2) read with Regulation 6(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015, on April 8, 2026, by Designated Partner Savinay Lodha. No prior equity share holding is mentioned, and there were no disposals or derivatives trading reported.

  • ·Transaction executed on April 7, 2026; intimation to company on April 7, 2026; disclosure filed on April 8, 2026
  • ·Mode of acquisition: Preferential allotment pursuant to conversion of warrants
  • ·PAN of Retaggio Ventures LLP: IABMFR4404; DPIN of Savinay Lodha: 02634124
  • ·No trading in derivatives reported
Swashthik Plascon LimitedMerger/Acquisitionneutralmateriality 8/10

09-04-2026

Ms. Krupa D/o Mahendra Kumar acquired 4,65,000 shares (12.39% of total share/voting capital) of Swashthik Plascon Limited on March 27, 2026, increasing her holding from 0%, under the exemption in Regulation 10(1)(a)(iii) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The seller reduced its holding from 11,63,978 shares (5.98%) to 6,98,978 shares (3.59%). No acquisition price per share was disclosed.

  • ·Report filed with SEBI on April 08, 2026, within 21 working days of acquisition.
  • ·Pre-acquisition notice to stock exchanges filed on March 19, 2026.
  • ·Post-acquisition disclosure to stock exchanges on March 30, 2026.
  • ·Target company address: No. A75-A76, Pipdic Electronic Park, Thirubuvanai, Mannadipet Commune, Puducherry, India, 605107.
NRB Bearing LimitedMerger/Acquisitionmixedmateriality 8/10

09-04-2026

Trilochan Singh Sahney Trust 1, a promoter/promoter group entity of NRB Bearings Limited, increased its encumbered (pledged) shares from 3,780,123 (3.90%) to 4,888,448 (5.04%) through an off-market transaction involving pledging 3,005,000 additional shares and releasing 1,896,675 shares between March 27, 2026, and April 7, 2026. While some shares were released, the net encumbrance rose by 1,108,325 shares (1.14% of total capital). The company's total equity share capital remains unchanged at 96,922,600 shares of Rs. 2 each.

  • ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • ·Transactions conducted off-market
  • ·Person Acting in Concert (PAC): Mrs. Harshbeena Sahney Zaveri
  • ·Acquirer belongs to Promoter/Promoter group: Yes
Vani Commercials LimitedMerger/Acquisitionneutralmateriality 3/10

09-04-2026

Vani Commercials Ltd (538918) has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Boolean Ventura Pvt Ltd. This indicates a substantial acquisition or disposal of shares by Boolean Ventura Pvt Ltd, crossing specified shareholding thresholds. No quantitative details such as share count, percentage change, deal value, or shareholding patterns are disclosed.

Asian Granito India LimitedMerger/Acquisitionneutralmateriality 8/10

09-04-2026

Asian Granito India Limited (Resulting Company 1) has received listing approvals on March 30, 2026 from BSE and NSE, and trading approvals on April 8, 2026 from both exchanges, for 64563636 equity shares of Rs. 10 each (distinctive numbers 231911650 to 296475285) issued pursuant to the Composite Scheme of Arrangement involving demerger from Adicon Ceramica Tiles Private Limited (Demerged Company) to Asian Granito India Limited and Adicon Ceramics Limited (Resulting Company 2). Trading in these shares commences from April 9, 2026 under symbol ASIANTILES (EQ series). This update follows the company's intimation dated March 5, 2026.

  • ·Distinctive numbers: 231911650 to 296475285
  • ·Trading symbol: ASIANTILES, Series: EQ
  • ·Prior intimation dated March 5, 2026
Acme Resources LimitedMerger/Acquisitionneutralmateriality 3/10

09-04-2026

Acme Resources Limited submitted the yearly promoter shareholding disclosure under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, for the financial year ended March 31, 2026, to BSE Limited and The Calcutta Stock Exchange Association Ltd. The disclosure was digitally signed by Ravin Saluja, Managing Director. No specific shareholding details or changes were provided in the filing notice.

  • ·Scrip code: 539391
  • ·CIN: L65993DL1985PLC314861
  • ·Letter date: April 07, 2026
Indogulf Cropsciences LimitedMerger/Acquisitionpositivemateriality 4/10

09-04-2026

Promoters of Indogulf Cropsciences Limited, including Mr. Om Prakash Aggarwal, Mr. Sanjay Aggarwal, Mrs. Anshu Aggarwal, and Mr. Arnav Aggarwal, have declared no encumbrance on their shares held directly or indirectly during the financial year 2025-26, in compliance with Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was submitted to BSE (Scrip Code: 544432) and NSE (Symbol: IGCL) on April 09, 2026, and signed by Om Prakash Aggarwal on behalf of the promoters.

  • ·Disclosure submitted by Sakshi Jain (Company Secretary, M. No: A67325).
  • ·Company address: 501, Gopal Heights, Netaji Subhash Place, Delhi – 110034 (India).
Jauss Polymers LtdMerger/Acquisitionneutralmateriality 9/10

09-04-2026

Noize Brands and Lifestyle Limited, along with PAC Mr. Aditya Chopra, acquired 18,51,894 equity shares representing 40.04% of Jauss Polymers Limited's total paid-up equity share capital of 46,25,575 shares (Rs. 4,62,55,750) via an off-market transfer on February 26, 2026. Prior to the acquisition, their holding was nil, marking a significant increase to 40.04% post-acquisition. The acquirer will become a promoter of Jauss Polymers post completion of the open offer.

  • ·Disclosure filed on April 9, 2026, in compliance with Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
  • ·Mode of acquisition: off-market transfer.
  • ·Noize Brands CIN: U74900UP2015PLC216581; Jauss Polymers CIN: L74899HR1987PLC066065.
  • ·Equity shares face value: Rs. 10 each.
Steel Strips Wheels LimitedMerger/Acquisitionpositivemateriality 3/10

09-04-2026

The Board of Steel Strips Wheels Limited approved a further investment of Rs. 3.76 lakhs to acquire 37,582 equity shares (FV Rs. 10 each) in Echanda Urja Private Limited (EUPL), increasing its stake from 3.81% to 5.57% (total investment Rs. 11.91 lakhs). This is to procure additional renewable wind power for the Chennai plant under the Group Captive Scheme, aiming to save energy costs. EUPL reported FY 2024-25 turnover of Rs. 12,147.73 lakhs, up from Rs. 11,665.55 lakhs in FY 2023-24 but down from Rs. 11,818.81 lakhs in FY 2022-23.

  • ·No governmental or regulatory approvals required for the investment.
  • ·Completion expected within 30 days of acquisition.
  • ·EUPL CIN: U40104MH2014PTC259254, incorporated November 12, 2014.
  • ·Investment at cash consideration; not a related party transaction.
Mahindra & Mahindra LimitedCompany Updatemixedmateriality 5/10

09-04-2026

Mahindra & Mahindra Ltd approved acquisition of 26% equity stake in step-down subsidiary Neon Hybren Private Limited for up to ₹11.17 Cr in one or more tranches, via Share Subscription and Shareholders Agreement executed on April 9, 2026, to comply with Electricity Rules 2005 for a 30 MW AC Group Captive Solar Power Plant in Punjab. Neon, involved in power generation and renewable energy, reported Nil revenue from operations, a PAT loss of (9.23) Lakhs, and Net Worth of 10.77 Lakhs for FY25 ended March 31, 2025. Post-transaction, MSPL's stake dilutes to 74% from 100%, with completion targeted by December 31, 2026.

  • ·Neon incorporated on 3rd May 2024
  • ·Transaction approved on 9th April 2026 at 12:08 p.m.
  • ·Indicative completion timeframe: 31st December 2026
  • ·Neon FY24 and FY23 turnover: Not Applicable
Unisem Agritech LtdMerger/Acquisitionneutralmateriality 3/10

09-04-2026

Unisem Agritech Limited submitted a declaration under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirming that promoters, promoter group, and persons acting in concert created no encumbrance on their equity shares during the financial year ended March 31, 2026. The promoter group holds a total of 8,033,800 shares, representing 70.89% of the company's shares as on March 31, 2025. The declaration was issued by Honnebagi Nagappa Devakumar, Promoter and Managing Director.

  • ·Declaration covers financial year ended March 31, 2026, with promoter list as on March 31, 2025.
  • ·Scrip Code: 544648.
  • ·Address: RS No. 1181A/4, Magoda Village, Near KSRTC Bus Depot, Ranebennur, Haveri, Karnataka, 581115.
D & H India LimitedMerger/Acquisitionneutralmateriality 3/10

09-04-2026

Madhusudan Jain, a non-promoter public shareholder, acquired 10,000 equity shares (FV ₹10 each) of D & H India Limited on April 8, 2026, via open market purchase on BSE, increasing his shareholding from 75,651 shares (0.74%) to 85,651 shares (0.84%). The company's total equity share capital remains unchanged at 1,02,35,000 shares aggregating to ₹10,23,50,000. This voluntary disclosure is made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

  • ·Face value per share: ₹10
  • ·Mode of acquisition: Open Market Purchase on BSE Trading Platform
  • ·Acquirer address: House No. 370 AE, Scheme No. 74C, Vijay Nagar, Indore 452010
  • ·Target company BSE code: 517514
Jindal Poly Films LimitedMerger/Acquisitionneutralmateriality 3/10

09-04-2026

BSE has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from M Prasad & Co Ltd and Persons Acting in Concert (PACs) pertaining to Jindal Poly Films Ltd (500227). This filing signals an intention to acquire shares potentially crossing substantial acquisition thresholds, but no details on share counts, percentages, deal value, or strategic rationale are provided. No quantitative metrics, financial impacts, or timelines beyond the disclosure itself are mentioned.

Jauss Polymers LtdMerger/Acquisitionneutralmateriality 4/10

09-04-2026

Jauss Polymers Ltd (BSE: 526001) has announced receipt of a disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Noize Brands & Lifestyle Ltd, as received by BSE on April 09, 2026. This pertains to a proposed acquisition or agreement to acquire shares or voting rights entitling the acquirer to more than 5% in Jauss Polymers Ltd. No details on stake size, valuation, consideration, or strategic rationale are disclosed in the filing.

Swastika Castal LimitedMerger/Acquisitionneutralmateriality 4/10

09-04-2026

BSE has received a disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Swastika Castal Ltd (544452) from Fortune Hands Growrth Fund Scheme I. This filing indicates prior intimation of a proposed substantial acquisition of shares. No quantitative details such as share count, percentage stake, valuation, or transaction structure are disclosed.

Zim Laboratories LimitedMerger/Acquisitionpositivemateriality 6/10

09-04-2026

Zim Laboratories Limited invested Rs. 89,45,100 (AUD 1,35,000) in equity shares of ZIMTAS Pty Ltd, out of the approved investment amount of up to Rs. 02.00 crores. Post-investment, the Company holds 99.96% of the total share capital of ZIMTAS Pty Ltd. This disclosure is pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, referencing prior intimations dated 13.05.2024 and 02.07.2024.

  • ·Disclosure references prior intimations dated 13.05.2024 and 02.07.2024.
Ashiana Housing LimitedMerger/Acquisitionpositivemateriality 9/10

09-04-2026

Ashiana Housing Limited has acquired approximately 28.55 acres of land on an outright purchase basis at Vadgaon, Taluka Maval, District Pune, Maharashtra. This represents the company's largest ever land deal for the development of a Senior Living project, featuring an approximate saleable area of 20 lakhs sq. ft. The project has a sales value potential of INR 1,800 crores.

Vivanza Biosciences LimitedMerger/Acquisitionneutralmateriality 3/10

09-04-2026

Vivanza Biosciences Limited submitted a yearly disclosure under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, from its Promoters for the financial year ended March 31, 2026, to BSE Limited. The disclosure details are enclosed but not specified in the filing notice. No changes in shareholding or financial impacts are detailed in the announcement.

  • ·Scrip Code: 530057
  • ·ISIN: INE984E01035
  • ·CIN: L24105GJ1982PLC005057
  • ·Filing Date: April 09, 2026
Mangalam Industrial Finance LimitedMerger/Acquisitionneutralmateriality 6/10

09-04-2026

Wardwizard Solutions India Private Limited, a promoter of Mangalam Industrial Finance Limited, disclosed the creation of a pledge on 15,000,000 equity shares (1.05% of total diluted share capital) in favor of Blacksoil Capital Private Limited on April 7, 2026, pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This increases Wardwizard's encumbered shares from 0 to 15,000,000, while PAC Mr. Yatin Sanjay Gupte's encumbrance remains at 85,000,000 shares (5.96%); total combined holding stays at 100,793,394 shares (7.06%). No change in voting shares or acquisition/disposal occurred.

  • ·Disclosure filed with BSE Limited on April 9, 2026.
  • ·Pledge creation date: April 7, 2026.
  • ·Wardwizard confirmed as part of Promoter/Promoter group.
NRB Bearing LimitedMerger/Acquisitionmixedmateriality 8/10

09-04-2026

Promoters of NRB Bearings Limited, led by Ms. Harshbeena Sahney Zaveri and Trilochan Singh Sahney Trust – 1, disclosed share pledge adjustments from March 27 to April 7, 2026: released 19,509,718 shares (20.13% of total share capital) from Tata Capital Limited and created pledges on 19,489,427 shares (20.11%) with Aditya Birla Capital Limited to optimize borrowing costs via loan prepayment. Overall promoter pledge reduced, with post-event encumbrance at 36,679,709 shares (73.91% of their 49,625,042 share or 51.20% holding) and strong asset cover of ₹878.04 Crore against ₹275.65 Crore loans (3.19:1 ratio). However, encumbrance remains high at over 20% of total share capital, signaling ongoing leverage risks.

  • ·Encumbrance exceeds 50% of promoter shareholding (YES) and 20% of total share capital (YES)
  • ·Harshbeena Sahney Zaveri pre-event encumbered: 32,919,877 shares (33.97%); post-event: implied reduction to match 32.80% holding
  • ·Trilochan Singh Sahney Trust – 1 pre-event encumbered: 3,780,123 shares (3.90%)
Godrej Properties LimitedMerger/Acquisitionneutralmateriality 4/10

09-04-2026

GIC Private Limited, acting on behalf of Government of Singapore (GOS), Monetary Authority of Singapore (MAS), and Gamnat Pte Ltd, disclosed the open market sale of 166,984 equity shares (0.055%) in Godrej Properties Limited on April 7, 2026, reducing their combined holding from 19,461,064 shares (6.461%) to 19,294,080 shares (6.406%). GOS sold 141,462 shares (from 2.491% to 2.444%), MAS sold 25,522 shares (from 1.590% to 1.581%), while Gamnat's holding remained unchanged at 2.380%. No shares were encumbered, and no warrants or convertible securities were involved.

  • ·Disclosure filed on April 9, 2026, in compliance with Regulation 29(2) of SEBI (SAST) Regulations, 2011.
  • ·Equity share capital figures based on latest public disclosure as of March 9, 2026 (301,207,741 shares).
  • ·Mode of transaction: Open market sale.
  • ·Previous disclosure by GIC: July 2, 2019, holding 21,208,281 shares (8.415%).
Aadhar Housing Finance LimitedMerger/Acquisitionneutralmateriality 8/10

09-04-2026

BCP Asia II Holdco VII Pte. Ltd. (BCP Asia), the promoter holding 282,788,827 equity shares (65.19%) in Aadhar Housing Finance Limited, created a non-disposal undertaking on 7 April 2026 addressed to the National Housing Bank (NHB). This encumbrance restricts BCP Asia from transferring or encumbering shares to ensure its stake does not fall below 26% of total share capital until the company's refinance assistance from NHB is repaid. The undertaking supports NHB's refinancing for the company's housing loans, with the shareholding valued at ₹128,739,613,491 as of the encumbrance date.

  • ·Encumbrance type: Non-disposal undertaking (negative lien), covering 100% of BCP Asia's shares and >50% of promoter shareholding / >20% of total share capital.
  • ·No existing prior encumbrances reported for BCP Asia; other promoter group entities hold 0 shares.
  • ·Disclosure made to BSE and NSE on 9 April 2026 per SEBI (SAST) Regulations 31(1) and 31(2).
Mangalam Industrial Finance LimitedMerger/Acquisitionneutralmateriality 5/10

09-04-2026

Promoter Wardwizard Solutions India Private Limited disclosed the creation of a pledge over 1,50,00,000 equity shares (1.05% of total share capital) in Mangalam Industrial Finance Limited in favor of Blacksoil Capital Private Limited as collateral for financial assistance to a group company, effective April 7, 2026, pursuant to an agreement dated March 27, 2026. The promoter's total shareholding remains unchanged at 1,55,20,496 shares (1.08%). No other changes in promoter holdings were reported.

  • ·Disclosure filed on April 9, 2026, in terms of Regulation 31(2) and 31(3) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
  • ·Pledge created as security under Pledge Agreement dated March 27, 2026; no invocation or release.
Lyka Labs LimitedMerger/Acquisitionneutralmateriality 9/10

09-04-2026

The Scheme of Amalgamation of Lyka Exports Limited (Transferor Company) with Lyka Labs Limited (Transferee Company) has been sanctioned by the NCLT Ahmedabad Bench on 16th March 2026, with the certified order received on 24th March 2026 and filed with the Registrar of Companies on 8th April 2026, making the scheme effective from 8th April 2026 (Appointed Date: 1st April 2022). Upon effectiveness, the authorized share capital of Lyka Labs Limited automatically increased to Rs.59,00,00,000 (₹59 Cr), comprising 5,70,00,000 equity shares of Rs.10 each and 2,00,000 redeemable preference shares of Rs.100 each.

  • ·NCLT order dated 16th March 2026.
  • ·Certified true copy received on 24th March 2026.
  • ·Filed with Registrar of Companies, Ahmedabad on 8th April 2026.
ADVANCE METERING TECHNOLOGY LIMITEDMerger/Acquisitionneutralmateriality 3/10

09-04-2026

Advance Metering Technology Limited's promoter, Prashant Ranade, on behalf of the Promoter & Promoter Group, submitted a declaration under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Regulation 31(4), confirming they hold 1,02,041716 shares as on March 31, 2026, with no encumbrances made directly or indirectly during the financial year ended on that date. The disclosure was filed with BSE Ltd. on April 09, 2026, by Company Secretary Alok Kumar Pandey.

  • ·Disclosure pertains to financial year ended March 31, 2026
  • ·Company CIN: L31401DL2002PLC117360
  • ·ISIN: INE436N01029
  • ·Company Code on BSE: 534612

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India Technology Sector Merger & Acquisition Filings — April 09, 2026 | Gunpowder Blog