India Technology Sector Merger & Acquisition Filings — April 28, 2026

28-04-2026

Piccadily Agro Industries Limited's Board approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, along with an unmodified audit opinion and no impact from audit qualifications. The Board also approved a Scheme of Arrangement for the demerger of the Sugar Business into wholly-owned subsidiary Piccadily Food & Essential Limited, creating two listed companies focused on Distillery and Sugar businesses respectively, subject to regulatory and shareholder approvals. However, the statutory auditors Jain & Associates resigned citing inability to continue, with no concerns raised, and new auditors Rattan Kaur & Associates were recommended.

• ·Auditor Jain & Associates (FRN: 01361N) resigned on April 28, 2026; Audit Committee and Board noted no concerns.
• ·Recommended appointment of Rattan Kaur & Associates (ICAI Firm Registration No. 022513N) as new Statutory Auditors, subject to shareholder approval.
• ·Scheme requires approvals from NCLT, SEBI, BSE, NSE, and shareholders/creditors.
• ·Financial results and Scheme details available on company website post-submission to exchanges.

28-04-2026

Bartronics India Ltd (BSE: 532694) has received a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 from Kinex India Pvt Ltd. This filing indicates a substantial acquisition or disposal of shares crossing specified thresholds, but no details on share count, percentage change, valuation, or parties' prior/post holdings are provided. No financial metrics, deal structure, or strategic rationale are disclosed.

28-04-2026

Advait Energy Transitions Limited (formerly Advait Infratech Limited) incorporated three subsidiaries on April 27, 2026 (Advait Carbon Advisory & Renewables Assets Private Limited on April 20, 2026), acquiring 80% shareholding in each via cash subscription at face value. Each subsidiary has authorized and paid-up share capital of ₹1,00,000, with businesses focused on battery energy storage systems and EV batteries, carbon advisory/ESG services and renewables assets, and unified renewable assets including power generation and trading, all aligning with the parent company's renewable energy operations. No financial performance data available as entities are newly formed.

• ·All subsidiaries are related parties, with share subscription at arm's length and at face value.
• ·Registered office for all subsidiaries: A-801 to 803, Sankalp, Iconic, Opp. Vikram Nagar, Bodakdev, Ahmedabad-380054, Gujarat.
• ·CINs: Advait Battery Ecosystems Private Limited (U27200GJ2026PTC177143); Advait Carbon Advisory & Renewables Assets Private Limited (U74909GJ2026PTC176788); Advait Unified Renewable Assets Private Limited (U35105GJ2026PTC177180).

28-04-2026

EIE Renewables Private Limited, a wholly owned subsidiary of Enviro Infra Engineers Limited, entered into a Share Purchase Agreement on April 28, 2026, to acquire 100% of Suyog Urja Limited in a phased manner: 51% equity immediately and the remaining 49% within 27 months by July 31, 2028, for cash consideration of approximately ₹311,00,00,000. The target company reported strong turnover growth to ₹171.99 Crore in FY 2024-25 (up 98.3% YoY from ₹86.71 Crore in FY 2023-24, which was up 62.6% from ₹53.34 Crore in FY 2022-23), with networth of ₹30.34 Crore as of March 31, 2025, over 500 MW of projects completed, and an order book of ₹645 Crore. This acquisition strengthens the company's renewable energy portfolio by adding wind energy capabilities and geographic expansion across India.

• ·Suyog Urja Limited incorporated on September 11, 2008, under Companies Act, 1956.
• ·Erstwhile promoter Mr. Chetraj Narbahadur Khadka to continue association for minimum 3 years.
• ·Acquisition completion on or before July 31, 2028.
• ·Not a related party transaction; no promoter group interest.
• ·Target has PAN India presence in Maharashtra, Karnataka, Madhya Pradesh, and other regions.

28-04-2026

The Board of Directors of Leela Palaces Hotels & Resorts Limited approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, along with unmodified audit reports from B S R & Co. LLP. The Board also approved an investment of up to ₹1,00,00,000 in BPBKC Properties Private Limited via cash consideration in tranches for 50% shareholding, aimed at exploring opportunities in hospitality and real estate sectors, with completion targeted by end of FY 2027. Additionally, M/s. PricewaterhouseCoopers Services LLP was appointed as Internal Auditor for FY 2026-27.

• ·BPBKC Properties Private Limited incorporated on January 07, 2026, with NIL turnover for last three financial years and presence in India.
• ·Board meeting held on April 28, 2026, from 12:30 P.M. to 01:05 P.M. IST.
• ·Acquisition not a related party transaction; from non-related party at arm's length.

28-04-2026

Prozone Realty Limited's Board approved the hiving off of land assets from Alliance Mall Developers (39,753.50 sq. mt. with 540 residential units ongoing) and Empire Mall Private Limited (26,047.39 sq. mt.) into wholly-owned SPVs for ~₹44 Cr and ~₹13 Cr respectively, ahead of selling 100% of Kruti Developers (negative net worth of ₹-2.42 Lakh), effective 100% of Alliance (₹5,927.23 Lakh turnover, 33.16%), and effective 100% of Empire (₹6,271.36 Lakh turnover, 35.09%) to Inorbit Malls for aggregate ~₹1,242.50 Cr. The Board also approved acquiring 17.507% stake (17,51,020 shares) in Gajaanan Property Developers Private Limited (GPDPL, FY25 turnover ₹2,32,19,23,909, net worth ₹58,39,28,000) for ~₹24 Cr, with shareholder approvals via postal ballot. These transactions involve material subsidiaries contributing over 68% of FY25 turnover but include a loss-making entity.

• ·Postal Ballot notice dated April 28, 2026 for shareholder approval of sales and hiving off.
• ·Expected completion: sales within 90 days of shareholder resolution or SPA execution; acquisition within 180 days of Board approval.
• ·SPAs not yet executed but to be done in due course.
• ·Transactions exempt from certain RPT approvals as between WOS or not RPT; shareholder approval process underway per Reg 37A.

28-04-2026

Mr. Sameer Gupta, currently holding 0% in SG Mart Limited, proposes to acquire 4,42,00,000 equity shares (35.08% of total paid-up equity share capital) via gift from immediate relatives Mr. Dhruv Gupta (3,28,00,000 shares, 26.03%) and Mrs. Meenakshi Gupta (1,14,00,000 shares, 9.05%), on or after May 7, 2026. This inter-se transfer is exempt from open offer requirements under Regulation 10(1)(a)(i) of SEBI (SAST) Regulations, 2011, as part of family restructuring, with no consideration involved. Post-transaction, Mr. Sameer Gupta's shareholding will rise to 35.08%, classifying him as a Promoter, while Mr. Dhruv Gupta's drops to 1.19% and Mrs. Meenakshi Gupta's to 0%.

• ·Filing date: April 28, 2026; signed April 27, 2026.
• ·Face value of shares: ₹1 each.
• ·Scrip Code: 512329; NSE Symbol: SGMART; ISIN: INE385F01024.
• ·Exemption: Regulation 10(1)(a)(i) of SEBI (SAST) Regulations, 2011.
• ·Price: NIL (gift, off-market transaction).
• ·Post-transaction, acquirer complies with Regulation 31A(6)(a) of SEBI (LODR) Regulations, 2015 for Promoter classification.

28-04-2026

Cranex Ltd. (BSE: 522001) has filed a disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by BSE, from Sangeeta Pareekh and Persons Acting in Concert (PACs) indicating intention to acquire shares. No details on acquisition size, shareholding percentages, valuation, or transaction structure are provided in the filing. This is a mandatory pre-acquisition disclosure for potential substantial stake changes.

28-04-2026

Diwakar Finvest Private Limited and Suraj Finvest Pvt Ltd, key promoters of Emami Limited, created additional pledges on shares in March 2026 with Bajaj Finance Limited as part of lender agreements, increasing Diwakar's encumbered shares from 2,31,23,014 (5.30%) to 2,57,73,014 (5.90%) and Suraj's from 56,11,992 (1.29%) to 67,11,992 (1.54%). This filing revises a prior disclosure dated 13.03.2026 to correct the pledge date for Suraj Finvest from 12.02.2026 to 12.03.2026 due to a typographical error. No releases or invocations reported; other listed promoters show no encumbrance activity.

• ·Disclosure originally submitted on 13-03-2026; revised on 28-04-2026 solely for correcting Suraj Finvest pledge date from 12.02.2026 to 12.03.2026.
• ·Pledges created as per agreement with lender; no details on invocation or release.
• ·Long list of other individual and HUF promoters (e.g., Priti A Sureka with 1,51,04,702 shares at 3.4604%) report zero encumbrance activity.

28-04-2026

BSE received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, from Life Insurance Corporation of India pertaining to HCL Technologies Ltd (532281). No details on acquisition size, stake changes, valuation, or transaction structure were disclosed in the filing. This is an informational SAST disclosure indicating potential substantial shareholding activity by LIC in the technology sector company.

28-04-2026

JSW Steel Ltd (BSE: 500228) has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Life Insurance Corporation of India. This filing indicates LIC's report of intention to acquire shares or change in shareholding by specified thresholds in JSW Steel. No quantitative details such as share count, percentage change, deal value, or transaction structure are disclosed.

28-04-2026

Eco Recycling Ltd's board approved the acquisition of the remaining 21.74% stake in subsidiary Ecoreco Park Pvt Ltd (EPPL) for ₹193.25 Lacs (₹38.65 per share), consolidating 100% ownership to advance its Integrated Circular Economy Park vision and infrastructure plans. EPPL, focused on recycling and industrial parks, reported investment income of (₹31,10,886) in FY 2024-25, a sharp decline from ₹2,62,00,540 in FY 2023-24 and ₹4,62,000 in FY 2022-23. This move provides full control but underscores EPPL's transition to losses.

• ·EPPL incorporated on 16/08/2013
• ·Board approval on April 27, 2026
• ·Indicative completion timeframe: 6 months
• ·Cash consideration for acquisition
• ·Valuation by Registered Valuer IBBI/RV/07/2019/12711
• ·Transaction at arm's length despite related party status