India Merger Acquisition MCA Regulatory Filings — April 25, 2026

25-04-2026

Fujiyama Power Systems Limited's Board approved the acquisition of an additional 31% stake (3,100 equity shares) in each of Zayo Energy Private Limited (ZEPL) and Zayo Cables Private Limited (ZCPL) for Rs. 31,000 cash consideration per entity, increasing total ownership from 19% to 50% and making them associates. The move supports backward integration into solar panel components (EVA sheets, junction boxes, backsheets) and cables manufacturing for operational synergies. However, both targets reported nil turnover for FY 2024-25 and have limited operational history as recently incorporated private companies.

• ·ZEPL CIN: U29190DL2022PTC399031, incorporated May 25, 2022; ZCPL CIN: U27320DL2024PTC432758, incorporated June 14, 2024.
• ·Both targets have registered office at Plot No 4, Road No 5, G/F Jai Dev Park, East Punjabi Bagh, West Delhi, India, 110026.
• ·ZEPL turnover nil for FY 2022-23, 2023-24, 2024-25; ZCPL turnover nil for FY 2024-25 (NA prior years).
• ·Board meeting on April 25, 2026, from 04:30 P.M. to 05:20 P.M.; acquisition expected within 30 days.
• ·No governmental approvals required; arm's length cash transaction; no promoter/promoter group interest in targets.

25-04-2026

Shashank Traders Ltd (BSE:540221) filed a disclosure on April 25, 2026, stating that the Exchange received a prior intimation under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from AVB Endeavors Pvt Ltd. This signals a planned substantial acquisition of shares in the technology sector company. No quantitative details such as share counts, percentages, deal values, or timelines were disclosed.

25-04-2026

Thyrocare Technologies Ltd (BSE: 539871) filed disclosures under Regulations 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, with the Exchange receiving the disclosure on April 20, 2026, pertaining to Docon Technologies Pvt Ltd. No quantitative details such as transaction values, shareholding percentages, deal structures, or financial metrics are provided in the filing. This is a standard regulatory shareholding pattern disclosure under SAST, with no positive or negative performance metrics mentioned.

• ·Disclosure received by BSE on April 20, 2026
• ·Filing date: April 25, 2026

25-04-2026

BSE has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, from PPFAS Mutual Fund pertaining to Brookfield India Real Estate Trust REIT (543261). The filing indicates PPFAS Mutual Fund's intention to potentially acquire additional shares in the REIT, but no specific details on share counts, percentages, or transaction values are provided. No positive or negative financial metrics, changes, or impacts are mentioned.

25-04-2026

GKS Technology Park Private Limited, along with PAC K V Ramana Shetty (Acquirer 2), acquired 2,70,697 equity shares representing 12.56% of Tulive Developers Limited on April 23, 2026, pursuant to delisting, increasing their combined holding from 7,45,367 shares (34.60%) to 10,16,064 shares (47.16%). Altis Properties Private Limited along with PAC Mr. Atul Gupta (Acquirer 1) is also referenced with post-acquisition holding at 47.16%. The total equity share capital remains unchanged at Rs. 2,15,43,750 divided into 21,54,375 equity shares of Rs. 10 each.

• ·Disclosure filed under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
• ·Mode of acquisition: pursuant to delisting of equity shares
• ·PAN of GKS Technology Park Private Limited: AACCG6703D
• ·Scrip code: 505028

25-04-2026

Promoters and Persons Acting in Concert (PACs) of Cranex Limited, led by Chaitanya Agrawal (for himself and PACs including Piyush Agrawal, Ritu Agrawal, Amitabh Agrawal, and Ritu Investment Pvt. Ltd.), disclosed under SEBI Regulation 29(2) the conversion of 7,00,000 convertible warrants into equity shares on April 24, 2026. Chaitanya Agrawal converted 4,00,000 warrants and Amitabh Agrawal converted 3,00,000 warrants, allotted at Rs. 102/- each (premium Rs. 92/-) upon payment of Rs. 76.50/- per warrant. This increased the company's equity share capital from Rs. 6,57,00,000 (65,70,000 shares) to Rs. 7,27,00,000 (72,70,000 shares), with total diluted capital at Rs. 8,78,00,000 (87,80,000 shares); promoter group pre-conversion voting stake was 39.47% (25,83,000 shares), shifting to higher post-conversion ownership.

• ·Promoter/Promoter group: Yes
• ·Pre-acquisition individual holdings: Piyush Agrawal 2,42,345 shares (3.69%); Ritu Agrawal 1,90,000 shares (2.89%); Amitabh Agrawal 1,00,000 shares (1.52%)
• ·Post-acquisition individual holdings: Piyush Agrawal 2,42,345 shares (3.69%); Ritu Agrawal 5,90,000 shares (8.98%); Chaitanya Agrawal 4,00,000 shares? (text garbled); Amitabh Agrawal 4,00,000 shares implied
• ·No shares encumbered
• ·Mode: Preferential allotment upon conversion of warrants

25-04-2026

India Business Excellence Fund - IIA disclosed under Regulation 29(2) of SEBI Takeover Regulations the disposal of 27,41,220 equity shares of Intec Capital Limited in a series of transactions from April 18, 2022, to April 22, 2026, reducing its stake from 19.85% (36,46,142 shares valued at ₹3,64,61,420) to 4.93% (9,04,922 shares valued at ₹90,49,220). The disclosure was triggered by the sale of 22,53,078 shares on April 22, 2026, breaching the 2% threshold. No other changes in voting rights, encumbrances, or convertible securities were reported.

• ·Scrip Code on BSE: 526871
• ·Face value of equity shares: Rs. 10 each
• ·Disclosure dated April 24, 2026, addressed to BSE Limited
• ·No Persons Acting in Concert (PAC) with the seller
• ·Seller not part of Promoter/Promoter group

25-04-2026

Promoter Group of String Metaverse Limited disclosed the sale of 38,10,000 equity shares (3.27% of total issued capital) through an Offer for Sale (OFS) on April 21-22, 2026, to achieve compliance with Minimum Public Shareholding (MPS) requirements. Major sales include Spacenet Enterprises India Limited (30,00,000 shares, reducing stake from ~4.61% to ~2.03%), Y. Venkata Subba Rao (5,00,000 shares, from 0.72% to 0.29%), Lanka Divyabharathi (2,10,000 shares, from 0.18% to 0%), and Pendurthi Annapurna (1,00,000 shares, from 0.11% to 0.02%). This transaction reduces promoter group holding while increasing public float, with no other changes to total share capital.

• ·OFS open from April 21, 2026 to April 22, 2026
• ·Disclosures dated April 24, 2026
• ·Company CIN: L62099TG1994PLC017207
• ·Listed on BSE Limited (Symbol: META | 534535)

25-04-2026

Poshika Financial Ecosystem Pvt. Ltd., a promoter-group entity of UGRO Capital Limited, voluntarily disclosed acquiring 13,79,374 equity shares (0.89% of total paid-up/diluted share capital) via open market purchases on 23-24 April 2026 at average prices of ₹110.94 and ₹107.65 per share. This follows a prior disclosure of 4,75,000 shares (0.31%), with cumulative acquisitions totaling 18,54,374 shares (1.20%). Post-acquisition, the acquirer's holding increased to 44,77,061 shares (2.88% including 0.19% pledged), without triggering the 2% mandatory threshold under SEBI Takeover Regulations.

• ·Acquisitions made via open market purchases on NSE.
• ·Disclosure is voluntary for transparency, as aggregate change with PACs remains below 2% threshold.
• ·Total paid-up equity per Dec 2025 shareholding pattern: 15,47,06,753 shares.

25-04-2026

Asgard Alcobev Ltd (BSE: 512025) has made a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, regarding Ronak Jain & Others' intention to acquire shares, potentially triggering substantial acquisition thresholds. No specific details on deal structure, valuation, share count, percentage stake, or transaction consideration are provided in the filing. The event is labeled as Merger/Acquisition but pertains to an early-stage SAST disclosure with no further quantitative or strategic information disclosed.

• ·Event sourced from BSE on April 25, 2026
• ·Sector noted as technology (mismatch with company names suggesting paper/alco-bev)

25-04-2026

K.M. Sugar Mills Limited (KMSML) has scheduled meetings for Equity Shareholders at 11:00 AM IST and Unsecured Creditors at 12:30 PM IST on Saturday, May 30, 2026, to seek approval for the proposed Scheme of Arrangement for Demerger with KM Spirits and Allied Industries Limited (KMSAIL), as directed by the Hon'ble NCLT, Allahabad Bench via order dated March 24, 2026. The NCLT order also dispenses with the need for a meeting of Secured Creditors. Notices for these meetings will be circulated in due course.

• ·Dispensation with convening meeting of Secured Creditors as per NCLT order.
• ·Earlier disclosure dated March 27, 2026, under Regulation 30 of SEBI LODR.
• ·NSE Symbol: KMSUGAR, Script Code: 532673.
• ·CIN: L15421UP1971PLC003492.

25-04-2026

Century Enka Limited has received credit of 37,96,086 equity shares of ABREL Century Energy Limited (ABRELCEL), its SPV, into its Demat account on April 25, 2026, via right issue subscription at par value of Rs.10 each, costing Rs. 3,79,60,860. This maintains the company's 26% shareholding to comply with captive power plant requirements under the Electricity Act, 2003. ABRELCEL, incorporated on March 10, 2022, focuses on wind-solar hybrid energy projects with turnover of Rs.1,949.10 Lakhs as of March 31, 2025.

• ·ABRELCEL incorporated on 10th March 2022 as SPV for captive power projects.
• ·Transaction is a related party transaction at arm's length pursuant to Electricity Act, 2003 and Rules, 2005.
• ·No governmental or regulatory approvals required beyond compliances already completed.

25-04-2026

Pine Labs Limited's Board approved the acquisition of 100% stake in Shopflo Technologies Private Limited for up to ₹88 Cr in cash on April 25, 2026, aiming to build a unified commerce and payments platform integrating in-store payments, online checkout, and consumer engagement. Shopflo, incorporated on December 16, 2021, reported turnover growth from ₹6.33 Mn in FY23 to ₹91.58 Mn in FY24 and ₹147.35 Mn in FY25, while Pine Labs' online payments revenue grew ~50% YoY in Q3 FY26. The deal is expected to complete in 3 months with no regulatory approvals required.

• ·Shopflo raised $3.7M prior to acquisition from Tiger Global Management, TQ Ventures, and Better Capital.
• ·No related party transaction; arm's length not applicable.
• ·Pine Labs operates in India, Malaysia, Philippines, UAE, Singapore, Australia, USA, and Africa.

25-04-2026

Leading Leasing Finance and Investment Company Limited disclosed under SEBI Regulation 29(2) the acquisition of 1,15,00,000 shares (4.53%) and disposal of 38,76,293 shares (1.53%) in Aqylon Nexus Limited (formerly Sri Adhikari Brothers Television Network Limited) via open market transactions from April 21-24, 2026. This resulted in a net increase of 76,23,707 shares (3.00%), raising their voting stake from 11.17% (2,83,34,437 shares) to 14.17% (3,59,58,144 shares) out of total equity capital of 25,37,30,560 shares of Rs.1 each. The entity is not part of the promoter/promoter group.

• ·Transactions executed in open market from 21-04-2026 to 24-04-2026.
• ·Scrip Code: 530943; Symbol: AQYLON.
• ·CIN of acquirer: L65910MH1983PLC016712; CIN of target: L62090MH1994PLC083853.
• ·No shares in encumbrance, warrants, or convertible securities held.

25-04-2026

Milgrey Finance & Investments Ltd (BSE: 511018) has made a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by BSE, pertaining to Pratik Saraogi. This filing signals an intention by Pratik Saraogi to acquire substantial shares in the company, potentially crossing key ownership thresholds under SAST. No details on deal structure, valuation, share counts, percentages, or financial terms are disclosed in the filing.

25-04-2026

UPL Limited's step-down subsidiary, UPL Brazil, will invest ~USD 86.7 Mn (BRL 450 Mn) in associate Sinova Inovações Agrícolas S.A., increasing its stake from 49.97% to 55.81% by May 15, 2026, to address working capital needs and reduce debt while promoting UPL products in Brazil's Cerrado region. Sinova, a reseller of grains and agricultural products, reported sharply declining audited turnover from USD 849 Mn in Dec 2023 to USD 417 Mn in Dec 2024 (-51%) and further to USD 329 Mn in Dec 2025 (-21%). The transaction is a related party transaction but requires no regulatory approvals.

• ·Sinova incorporated on February 12, 2001, operates in Brazil with presence in Cerrado savanna region.
• ·Promoters/promoter group/group companies have no direct/indirect interest in Sinova.
• ·Transaction at arm's length; no governmental/regulatory approvals required.

25-04-2026

Madhusudan Jain, a non-promoter public shareholder of D & H India Limited, acquired 16,929 equity shares (FV Rs. 10 each) via open market purchases on BSE on April 13, 15, 16, 17, 21, 23, and 24, 2026, increasing his shareholding from 85,651 shares (0.84%) to 102,580 shares (1.00%). This voluntary disclosure is filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The total equity share capital of the company remains unchanged at 1,02,35,000 shares aggregating to Rs. 10,23,50,000.

• ·Acquisition dates: 13/04/2026, 15/04/2026, 16/04/2026, 17/04/2026, 21/04/2026, 23/04/2026, 24/04/2026
• ·Mode of acquisition: Open Market Purchase on BSE Trading Platform
• ·Madhusudan Jain address: House No. 370 AE, Scheme No. 74C, Vijay Nagar, Indore 452010
• ·Previously reclassified as public shareholder per BSE letter dated 14/02/2023

25-04-2026

Desco Infratech Limited (BSE: 544387), a technology sector company, has made a disclosure under Regulation 10(7) of SEBI (SAST) Regulations, 2011, in respect of an acquisition under Regulation 10(1)(a)(i). This filing indicates a substantial acquisition of shares or voting rights by Desco Infratech, likely crossing regulatory thresholds. No details on target entity, deal size, valuation, consideration type, or financial impact are provided in the filing.

• ·Stock code: 544387 (BSE)
• ·Source: BSE announcement
• ·Event date: April 25, 2026

25-04-2026

Chalet Hotels Limited has completed Tranche 1 of the acquisition of Seasons Hotels Private Limited, which has consequently become a subsidiary of the Company. This update is issued pursuant to Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, following prior intimations dated December 11, 2025, and April 24, 2026. Detailed information on the acquisition was previously submitted on April 24, 2026.

• ·Scrip Codes: CHALET (NSE), 542399 (BSE Equity Shares), 976529 (BSE Non-Convertible Debentures)
• ·Company CIN: L55101MH1986PLC038538

25-04-2026

Kiran Vyapar Limited's step-down subsidiary, Sukhday Greenview Private Limited (held 98.90% by another step-down sub IOTA Mtech Power LLP), has ceased to exist following NCLT-sanctioned amalgamation into Maharaja Shree Umaid Mills Limited, effective 25 April 2026. The entity contributed minimally to the group with turnover/revenue/income of ₹0.44 Cr (0.39%) and net worth of ₹0.44 Cr (0.02%) as on 31 March 2025, alongside a negative figure of (₹0.07 Cr) or (0.03%). In consideration, IOTA Mtech Power LLP receives 170 equity shares of ₹10 each in the transferee company for every 25 CCPS held.

• ·NCLT Kolkata Bench order dated 16 March 2026; certified copy issued 13 April 2026; filed with ROC on 25 April 2026.
• ·Appointed date of scheme: 1 April 2024.
• ·IOTA Mtech Power LLP continues as step-down subsidiary.
• ·Transferee CIN: U17124WB1939PLC128650.