India Technology Sector Merger & Acquisition Filings — March 10, 2026

10-03-2026

Avio Smart Market Stack Limited (formerly Bartronics India Limited) has made an equity investment of ₹1 Cr to acquire 25.75% stake in Shree Naganarasimha Private Limited (SNN) by purchasing 3,469 shares at ₹2,882 each. The target entity, engaged in agro and food products manufacturing and trading, reported strong turnover growth from ₹1.39 Cr in FY23 to ₹4.94 Cr in FY24 (+255% YoY) and further to ₹11.48 Cr in FY25 (+132% YoY), with no declines noted.

• ·SNN CIN: U15124KA2022PTC168298, incorporated on 24 Dec 2022 in Bangalore, India.
• ·Acquisition at arm's length, not a related party transaction; first tranche completed, remaining per Shareholders’ Agreement.
• ·Earlier intimations: 08 Jan 2026, 23 Jan 2026, 16 Feb 2026.

10-03-2026

Ayushi Doshi, acting in concert with the promoter group of Shalibhadra Finance Limited, acquired 2,000 equity shares (0.01% stake) on March 10, 2026, via open market purchase, marginally increasing her holding from 5,31,500 shares (1.72%) to 5,33,500 shares (1.73%). The total equity share capital of the company remains unchanged at 30,88,84,000 shares. This represents a negligible change with no material impact on control.

• ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
• ·Scrip Code: 511754
• ·CIN: L65923MH1992PLC064886
• ·No encumbrances, warrants, or other instruments held

10-03-2026

Escorp Asset Management Ltd (BSE: 540455) announced receipt of a disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, from Shripal Shah on March 10, 2026. No details on acquisition size, shareholding changes, valuation, or transaction structure were disclosed in the filing. This is an informational SAST compliance filing with no quantitative metrics provided.

10-03-2026

Aryaman Capital Markets Ltd (BSE: 538716) filed a disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, pertaining to Shripal Shah. This SAST disclosure indicates a substantial acquisition of shares or takeover-related event has occurred, triggering mandatory reporting. No quantitative details such as share count, percentage stake, transaction value, or deal structure are provided in the filing.

10-03-2026

Mr. Vijay Kumar Kaushik, Promoter and Director of Vibhor Steel Tubes Limited, acquired 6,000 equity shares (0.03% of total paid-up capital) via open market transaction on March 10, 2026, at ₹110.964 per share, increasing his holding from 21.13% to 21.16%. The total paid-up equity share capital remains ₹18.96 Cr comprising 1,89,62,443 shares of ₹10 each. This modest purchase signals promoter confidence with no other changes in encumbrances or voting rights.

• ·Mode of acquisition: Open market transaction on NSE.
• ·No changes in encumbrances, warrants, or other voting rights instruments.

10-03-2026

BSE has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Shripal Shah for Aryaman Financial Services Ltd (BSE: 530245), signaling intention to acquire shares potentially crossing substantial acquisition thresholds. No details on deal structure, valuation, share count, percentage stake, swap ratio, or timeline are provided in the filing. This is an early regulatory compliance disclosure with no quantitative financial or operational metrics mentioned.

10-03-2026

Puspamitra Das, a promoter of Justo Realfintech Limited, acquired 4,000 equity shares (0.02% of total share capital) through an open-market transaction on March 10, 2026, marginally increasing his holding from 74,20,216 shares (39.47%) to 74,24,216 shares (39.49%). The company's total equity share capital remains unchanged at ₹18.80 Cr, consisting of 1,87,98,142 equity shares of ₹10 each. This acquisition was disclosed pursuant to Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

• ·Scrip Code: 544542
• ·ISIN: INE0W5Q01017
• ·PAN of acquirer: ABLPD3066D
• ·Mode of acquisition: Open-market

10-03-2026

A. K. Capital Services Limited's Banking and Investment Committee approved an investment of ₹75 Cr in its subsidiary A. K. Capital Finance Limited via subscription to 75,00,000 Non-Cumulative Compulsorily Convertible Preference Shares (CCPS) of ₹100 each on March 10, 2026. The subsidiary showed net worth growth of 3.7% to ₹847.40 Cr as of Dec 31, 2025 from ₹817.57 Cr as of Mar 31, 2025; however, turnover declined 19.8% to ₹268 Cr and PAT fell 26.1% to ₹50.09 Cr over the same period. Historical revenue grew 7.7% YoY in FY25 to ₹333.83 Cr from ₹310.09 Cr in FY24, following 24% growth in FY24.

• ·AKCFL incorporated on February 03, 2006; registered as NBFC-ND-SI (Investment and Credit Company) with RBI.
• ·Transaction is related party on arm's length basis; funds transferred and CCPS allotted on March 10, 2026.
• ·Company's equity holding to dilute slightly to 93.38% post CCPS conversion.
• ·FY 2023-24 revenue: ₹310.09 Cr; FY 2022-23 revenue: ₹249.89 Cr.

10-03-2026

Adani Enterprises Limited's wholly-owned subsidiary, Adani Road Transport Limited (ARTL), completed the acquisition of the remaining 49% equity share capital and 100% optionally convertible redeemable preference shares in D P Jain TOT Toll Roads Private Limited (DPJ TOT) on March 10, 2026, making DPJ TOT a wholly-owned subsidiary of ARTL at an enterprise value of ₹1,342 Cr as of September 30, 2025. This strategic move expands Adani's footprint in road infrastructure, aligning with its development objectives. DPJ TOT's turnover grew from ₹122 Cr in FY23 to ₹147 Cr in FY25 (17.2% YoY in FY24 but only 2.8% YoY in FY25, indicating flat recent performance).

• ·DPJ TOT incorporated on May 6, 2021
• ·Transaction executed at arm's length per SPA dated September 12, 2025
• ·Earlier 51% equity acquisition completed February 10, 2026
• ·All requisite governmental/regulatory approvals received
• ·Cash consideration paid, subject to closing adjustments

10-03-2026

Dhrumil Pravin Gala acquired 92.65 lakh shares (4.88% stake) in Anupam Finserv Limited via inter-se gift transfer from Nanji Gala on March 10, 2026, increasing his holding from 1.713% to 6.59%. Nanji Gala's stake declined from 8.695% to 3.81%, while other family members' holdings remained unchanged, keeping the total promoter/promoter group stake flat at 51.747%. The company's total equity share capital is ₹189.77 Cr comprising 18.98 Cr shares of ₹1 each.

• ·Mode of acquisition: Inter-se transfer by way of gift from grandfather Nanji Gala (promoter group).
• ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
• ·Scrip ID: ANUPAM, Scrip Code: 543631 on Bombay Stock Exchange.

10-03-2026

TARUN DHIR (Partner of M/s Arun Enterprises, Promoter Group) sold 30,00,000 equity shares of Rama Steel Tubes Limited through the open market on March 9, 2026, reducing the holding from 8,09,66,575 shares (4.95%) to 7,79,66,575 shares (4.77%). The total equity share capital remains unchanged at ₹163.60 Cr representing 16,360,40,979 shares of ₹1 each. This transaction results in a 0.18 percentage point decline in stake with no other changes in voting rights or encumbrances.

• ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
• ·No changes in encumbrances, warrants, or other instruments
• ·Filing date: March 10, 2026

10-03-2026

Afcons Infrastructure Ltd (544280) filed revised disclosures under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The disclosures pertain to Shapoorji Pallonji and were received by BSE on March 10, 2026. No quantitative details such as shareholding changes, transaction values, or specific acquisition information were disclosed in the filing.

• ·Filing received by BSE on March 10, 2026

10-03-2026

Aditya Birla Capital Limited (ABCL) invested ₹749.9999858 Cr (₹749,99,99,858) on a rights basis in the equity shares of its wholly owned subsidiary, Aditya Birla Housing Finance Limited (ABHFL), with allotment completed on March 10, 2026. This investment aims to fund ABHFL's growth and improve its leverage ratio, with no change in ABCL's 100% shareholding. The transaction is at arm's length and pertains to the housing finance industry.

• ·ABHFL remains a wholly owned subsidiary with 100% shareholding by ABCL post-investment.
• ·Transaction disclosed under Regulation 30 of SEBI Listing Regulations.
• ·No governmental or regulatory approvals required.

10-03-2026

Privi Speciality Chemicals Limited invested ₹1.78 Cr (Rs. 1,77,57,831) to acquire a 5.80% stake comprising 47,103 equity shares at ₹377 each in Radiance MH Sunrise Eleven Private Limited, a SPV developing a 16.60 MW solar power plant in Maharashtra. This equity participation, initially approved by the Board on July 29, 2024, positions the company as a captive user under the Electricity Act, 2003, to generate environment-friendly power, reduce dependence on coal and natural gas, and lower electricity costs. The transaction was completed in cash on March 9, 2026, with no governmental approvals required initially.

• ·SPV incorporated on March 12, 2021, under Companies Act, 2013; yet to commence operations
• ·No related party transactions; conducted at arm's length
• ·Post-commissioning, approvals needed for long-term open access and ABT meter installation
• ·Target entity focused on development, construction, operation, and maintenance of solar power plants in India

10-03-2026

Protean eGov Technologies Limited (PETL) received the certified copy of the NCLT Mumbai order dated February 27, 2026, sanctioning the Composite Scheme of Arrangement for the demerger of the Demerged Undertaking from its wholly-owned subsidiary Protean Infosec Services Limited (PISL) into PETL on a going concern basis, with Appointed Date of April 1, 2025. The scheme, unanimously approved by boards on May 21, 2025, faced no objections, had shareholder/creditor meetings dispensed, and requires no new share issuance due to 100% ownership. It aims to synergize cybersecurity and e-governance capabilities for cost efficiency and value creation.

• ·NCLT case numbers: C.P.(CAA)/252/MB/2025 c/w C.A.(CAA)/175/MB/2025
• ·PISL CIN: U72900MH2021PLC368593; PETL CIN: L72900MH1995PLC095642
• ·Scrip Code: 544021; Trading Symbol: PROTEAN
• ·No secured or unsecured creditors in PISL; no secured creditors in PETL
• ·Regional Director report dated January 9, 2026, with observations addressed
• ·Scheme filed with BSE/NSE on May 21, 2025 per Reg 37

10-03-2026

Whirlpool of India Limited completed the acquisition of additional 154,105 equity shares, representing 3.18% of the issued and paid-up share capital of Elica PB Whirlpool Kitchen Appliances Private Limited (Elica India), on March 10, 2026, bringing its total shareholding to 100%. This follows the initial intimation dated February 06, 2026, regarding the partial acquisition. The update complies with Regulation 30 of SEBI (LODR) Regulations, 2015.

• ·Scrip Code: 500238
• ·Symbol: WHIRLPOOL
• ·Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015

10-03-2026

Choice International Limited acquired the remaining 50% equity stake in its subsidiary Choice Insurance Broking India Private Limited by purchasing 6,60,000 shares for ₹62.50 Cr at ₹947 per share, increasing ownership from 50% to 100% and making it a wholly owned subsidiary. The target reported FY25 turnover of ₹88.59 Cr, reflecting modest 2.4% YoY growth from ₹86.48 Cr in FY24 after explosive 1,320% growth from ₹6.08 Cr in FY23. IRDAI approval has been secured, aligning with strategic expansion in insurance broking.

• ·Transaction executed on arm's length basis; seller Mr. Awjit Bhagat not related to promoters.
• ·Initial intimation dated June 18, 2025; filing dated March 10, 2026.
• ·Choice Insurance incorporated under Companies Act, 1956; operates as IRDA-registered broker in India.

10-03-2026

Catalyst Trusteeship Limited, acting as security trustee for Tata Capital Limited and DSP Finance Private Limited, released the pledge over 10 lakh equity shares (4.19%) of Nisus Finance Services Co Limited on March 5, 2026, reducing total encumbered shares from 21.73% to 17.54% of the company's equity capital. This disclosure complies with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. No other acquisitions, disposals, or changes in voting rights were reported.

• ·Scrip Code: 544296; ISIN: INE0DQN01013
• ·Listed on BSE Limited (SME Platform)
• ·Disclosure filed on March 9, 2026

10-03-2026

Mahindra Holidays & Resorts India Ltd (BSE:533088) has received a disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from 3P India Equity Fund, indicating the fund's intention to acquire a substantial stake. No details on deal size, stake percentage, valuation, consideration type, or timeline are disclosed in the filing. This is an acquisition-related disclosure rather than a merger or amalgamation.

10-03-2026

Purshottam Investofin Ltd (BSE: 538647) has received a disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, filed by Artha Shree Pvt Ltd. This filing signals Artha Shree's intention to acquire shares or change its holding in the company, crossing SAST thresholds (typically 5% initial or 2% incremental). No details on stake size, consideration, valuation, timeline, or financial impact are disclosed.

10-03-2026

BSE has received a disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Axana Estates LLP & Persons Acting in Concert (PACs) pertaining to Tilaknagar Industries Ltd (507205). No details on deal structure, shareholding changes, transaction value, or strategic rationale are provided. This is an initial SAST disclosure typically triggered by acquisitions crossing 5% holding or 2% change thresholds.

10-03-2026

Umiya Holding Private Limited, a promoter/promoter group entity, acquired 1,000 equity shares (0.005% of total capital) of Umiya Buildcon Limited on March 9, 2026, via open market purchase. This increased its absolute shareholding from 71,21,066 to 71,22,066 shares; however, the percentage holding remained flat at 38.12% of the total equity share capital of 1,86,84,602 shares. The disclosure complies with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

• ·Scrip codes: BSE 532376, NSE UMIYA-MRO
• ·Acquirer PAN: AAACU4321R
• ·Mode of acquisition: Open market
• ·No encumbrances, warrants, or convertible securities involved

10-03-2026

Promoter Pawan Kishorilal Agarwal disposed of 14,00,000 equity shares (3.24% of total share capital) on March 6, 2026, reducing the promoter/promoter group holding from 55.31% (2,39,01,545 shares) to 52.07% (2,25,01,545 shares). Combined with unchanged warrants of 84,00,000 (16.18% of diluted capital), total promoter stake on diluted basis fell from 62.22% to 59.52%. This open market sale was disclosed pursuant to SEBI (SAST) Regulation 29(2).

• ·Total equity shares outstanding: 4,32,16,291 of ₹10 each.
• ·Pawan Agarwal's individual holding reduced from 1,42,13,398 shares (32.89%) to 1,28,13,398 shares (29.65%).
• ·Disclosure filed on March 9, 2026, to BSE (Scrip Code: 521113).

10-03-2026

BSE received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, from Sanjeev Lunkad & PACs for Gujarat Winding Systems Ltd (541627). This filing indicates an intention to acquire shares that may cross or change substantial shareholding thresholds. No specific details on transaction size, share counts, percentages, or financial terms were disclosed.

10-03-2026

BSE has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, from R V Ravikumar & PACs for Ravi Kumar Distilleries Ltd (533294). No details on deal structure, size, valuation, parties beyond the acquirer group, or transaction terms are provided in the filing. This is an early-stage mandatory disclosure signaling potential intention to acquire substantial shares, with no quantitative or strategic information disclosed.

• ·Stock code: 533294
• ·Source: BSE
• ·Event labeled as Merger/Acquisition but filing is SAST disclosure only

10-03-2026

Tata Mutual Fund, through its schemes Tata Small Cap Fund and Tata India Equity Fund Multipartner SICAV, a shareholder of C.E. Info Systems Limited (MapmyIndia), has acquired shares of the company through the open market. The company received and disclosed this under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, on March 9, 2026. No specific details on the number of shares or stake percentage were provided in the filing.

• ·BSE Scrip Code: 543425
• ·NSE Symbol: MAPMYINDIA
• ·Filing communicated to exchanges on March 9, 2026

10-03-2026

Mrs. Swarna Malhotra and Persons Acting in Concert (Indus Petrochem Limited, Coppersmith Energies and Project Private Limited, Sudhir Malhotra, Jeet Malhotra), part of the promoter/promoter group, acquired 3,289 equity shares (0.04%) of Sunshield Chemicals Limited via open market on March 9, 2026. Their aggregate holding increased marginally from 58,25,555 shares (66.24%) to 58,28,844 shares (66.28%), with Swarna Malhotra's stake rising from 0.70% to 0.74%. No encumbrances, warrants, or other instruments were involved, and the company's equity share capital remained unchanged at ₹8.79 Cr.

• ·Indus Petrochem Limited holds 54,84,493 shares (62.36%), the largest stake among PACs.
• ·No shares in encumbrance, voting rights otherwise than equity, warrants, or convertible securities held before or after.
• ·Filing submitted to BSE on March 10, 2026 under Regulation 29(2) of SEBI Takeover Regulations.

10-03-2026

Ravi Agrawal, Managing Director and Promoter of Orissa Bengal Carrier Ltd., acquired 19,612 equity shares (0.09% of total paid-up capital) through open market purchases on February 26, 27, and March 2, 2026, increasing his stake from 9,498,910 shares (45.05%) to 9,518,522 shares (45.14%) out of the company's total equity capital of 21,082,790 shares. This disclosure complies with Regulation 29(2) of SEBI (SAST) Regulations, 2011. No declines or flat performance noted in holdings.

• ·Scrip Code: 541206; Trading Symbol: OBCL; ISIN: INE426Z01016
• ·Disclosure dated 02.03.2026, filed with BSE and NSE

10-03-2026

NCL Industries Limited disclosed receipt of a letter from the Promoter/Promoter group regarding the acquisition of its shares through the open market, in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was filed with BSE and NSE on March 9, 2026. No specific details on the number of shares acquired, price, or impact on holdings were provided in the filing.

• ·Disclosure pertains to open market purchase by Promoter/Promoter group.
• ·Filing dated March 9, 2026; external filing date March 10, 2026.

10-03-2026

Madhusudan Securities Ltd (BSE: 511000) has made a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, received by the BSE, pertaining to Salim Govani & PACs. This is an informational filing indicating potential substantial acquisition activity. No quantitative details such as transaction value, share count, stake percentages, or financial impacts were disclosed.

10-03-2026

V-Guard Industries Limited's Board approved an investment of ₹25.00 Cr in associate company Gegadyne Energy Labs Private Ltd (GEL) by acquiring 1,438 preference shares, increasing its stake from 24.32% to 30.35% on a fully diluted basis. This move provides access to alternate battery technology with advantages like lower TCO and faster recharge for applications in energy storage and V-Guard's products. However, GEL has not commenced commercial operations, reporting nil revenue from operations and only ₹30.3 L from other sources in FY 2024-25.

• ·GEL incorporated in 2017; registered office in Mumbai, India
• ·No governmental or regulatory approvals required
• ·Indicative completion date: March 31, 2026
• ·Investment on arm's length basis; cash consideration

10-03-2026

California Software Company Limited's Monitoring Committee (designated as the Audit Committee) confirmed receipt of First and Final Call Money of ₹6.12 Cr for 81,55,826 partly paid-up equity shares out of 4,63,71,318 issued under the Rights Issue, enabling proposed conversion to fully paid-up shares upon stock exchange and depository approvals. However, call money remains outstanding for the balance 3,82,15,492 shares, which will continue as partly paid-up with extended payment period. The Committee will ongoingly monitor remaining collections and Rights Issue proceeds utilization.

• ·Letter of Offer dated January 07, 2025
• ·Equity shares face value ₹10 each (Application Money ₹2.50 + Call Money ₹7.50)
• ·Board constituted Monitoring Committee on March 10, 2026
• ·Reconciliation verified by Statutory Auditor via certificate

10-03-2026

Mrs. Pooja Raja, not part of the promoter group, acquired 40,000 equity shares (0.05% of total capital) of Sumeru Industries Ltd. off-market on March 9, 2026, increasing her holding from 794,407 shares (1.1%) to 834,407 shares (1.15%). The company's total equity share capital remains unchanged at 7,20,00,000 shares of ₹1 each (₹7.20 Cr).

• ·Acquisition mode: Off-market purchase.
• ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
• ·No shares encumbered, no warrants or convertible securities held.

10-03-2026

BSE has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Clinitech Laboratory Ltd (544220) from Jagdish Umakant Nayak. This filing indicates an intention to acquire shares that may trigger substantial acquisition thresholds. No details on deal size, shareholding changes, valuation, or transaction structure are provided.

10-03-2026

Bhoruka Supply Chain Solutions Holdings Limited, a promoter group entity of Transport Corporation of India Limited, acquired 918 equity shares (0.0012% stake) on March 9, 2026, via open market purchase, marginally increasing its shareholding from 44.1117% (33,853,002 shares) to 44.1129% (33,853,920 shares). The company's total equity share capital remains unchanged at ₹153.49 Cr, comprising 76,743,797 shares of ₹2 each. This disclosure is mandated under SEBI Regulation 29(2) with no changes in encumbrances, voting rights otherwise, or convertible securities.

• ·Mode of acquisition: Open Market
• ·No shares in encumbrance (pledge/lien/non-disposal undertaking)
• ·No warrants/convertible securities held
• ·Disclosure filed on March 10, 2026

10-03-2026

Neo Infracon Ltd (BSE: 514332) has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Bhavik N Mehta. This filing indicates an intention to acquire shares that could result in crossing substantial shareholding thresholds (typically 5% or changes of 2%). No details on share count, percentage, valuation, or transaction structure are disclosed.