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India Technology Sector Merger & Acquisition Filings — December 15, 2025

India Tech M&A Activity

45 medium priority45 total filings analysed

Executive Summary

A surge of 45 regulatory filings on a single day (Dec 15, 2025) dominated by SEBI SAST Reg 29(2) disclosures signals widespread intent for substantial share acquisitions across small/mid-cap companies, many loosely tied to technology but spanning diverse sectors like pharma, infra, and manufacturing. Actual M&A activity remains sparse, with only isolated cases like GOCL's merger scheme, Net Pix Shorts' open offer, and Earkart's board approval for acquisition, all lacking quantitative details. This cluster indicates early-stage consolidation momentum in Indian small caps, but pervasive data opacity (all metrics NOT_DISCLOSED) tempers enthusiasm, suggesting neutral market impact unless follow-up filings materialize.

Tracking the trend? Catch up on the prior India Technology Sector Merger & Acquisition Filings digest from December 14, 2025.

Investment Signals(4)

  • Cluster of 30+ SAST Reg 29(2) disclosures for promoter/HUF/PAC stake build-ups signaling insider confidence [BULLISH] - Multiple small caps (e.g., Kesar Enterprises, Vaghani Techno-Build, Blue Cloud Softech)

  • FII/DII interest via disclosures (HDFC MF, Wasatch Advisors) hinting at positive sentiment [BULLISH] - JK Tyre, Elgi Equipments

  • Open offer public announcements providing potential exit premiums [BULLISH] - Net Pix Shorts Digital Media, Indo Borax & Chemicals

  • High volume of encumbrance/pledge signals amid stake activity raising liquidity concerns [BEARISH] - Hypersoft Technologies, others with undisclosed pledges

Risk Flags(4)

  • Near-total absence of quantitative details (shares, %, valuation) across 95% of filings creates opacity and potential for aborted/non-material deals

  • Regulatory scrutiny risks from SAST threshold breaches without follow-ups, including open offer triggers

  • Mismatch between 'Tech M&A' stream and diverse sectors (tyres, sugars, infra) flags possible overhyping of tech consolidation

  • Promoter pledge/encumbrance patterns (e.g., Hypersoft) amid acquisitions signal underlying liquidity stress

Opportunities(4)

  • Target alpha from open offer premiums in tech/digital media plays if deals close [Net Pix Shorts, Indo Borax]

  • Position for merger synergies in power/infra-tech hybrids post-NCLT approval [GOCL Corporation]

  • Long small-cap tech names with repeated SAST signals for consolidation-driven rerating [Blue Cloud Softech, Hypersoft Technologies, KPIT Tech]

  • Arbitrage on follow-up disclosures revealing stake crosses >5-25% triggering bids

Sector Themes(3)

  • Intensifying promoter/PAC stake consolidation in small-cap tech/IT services via SAST notices, hinting at defensive control amid market volatility

  • Emerging M&A catalysts in digital media/pharma-tech (open offers, board approvals) despite low materiality, signaling selective sector roll-ups

  • Broad small/mid-cap acquisition appetite beyond pure tech, correlating with FII/DII entries but hampered by disclosure gaps

Watch List(4)

  • 👁

    Net Pix Shorts Digital Media - Open offer PA; monitor acquirer details, offer price for premium exit

  • 👁

    GOCL Corporation - Merger scheme approval; track NCLT/SEBI nods, swap ratio for integration alpha

  • 👁

    Earkart Limited - Board meeting Dec 18 for acquisition; details on target/size could spark tech M&A wave

  • 👁

    Blue Cloud Softech / KPIT Technologies - SAST clusters in tech; watch Reg 30/31 for stake % reveals and control shifts

Filing Analyses(45)
Kesar Enterprises Ltd.Merger/Acquisitionneutralmateriality 3/10

15-12-2025

Kesar Enterprises Ltd. (BSE: 507180) has filed a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011, from Harsh Rajnikant Kilachand HUF & Others, signaling potential substantial acquisition of shares. No details on deal structure, share count, percentage, valuation, or transaction type are disclosed. This is an early-stage regulatory filing with limited information.

  • ·Disclosure under SEBI SAST Reg 29(2) for acquisition activity
  • ·Acquirer: Harsh Rajnikant Kilachand HUF & Others
  • ·Target: Kesar Enterprises Ltd.; all quantitative data NOT_DISCLOSED
JK Tyre & Industries LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

HDFC Mutual Fund filed a disclosure under Regulation 29(1) of SEBI (SAST) Regulations, 2011, for JK Tyre & Industries Ltd (BSE:530007), indicating intent for potential substantial acquisition of shares. No details on transaction value, share count, percentage, or deal structure are disclosed. This is a regulatory prior intimation, not a merger or full acquisition announcement.

  • ·SEBI SAST Reg 29(1) disclosure by HDFC Mutual Fund
  • ·Applies to JK Tyre & Industries Ltd
  • ·No quantitative data (value, shares, %) provided
EARKART LIMITEDMerger/Acquisitionneutralmateriality 1/10

15-12-2025

Earkart Ltd (BSE:544549) has announced a board meeting on December 18, 2025, to consider approving the investment of company funds for an acquisition. No details on target, deal structure, valuation, or size are disclosed in the filing. This is a preliminary announcement in the technology sector with no quantified impacts.

  • ·Board meeting scheduled for 18/12/2025 to approve funds for acquisition - FACT from filing.
  • ·No parties, deal size, valuation, or structure mentioned - all NOT_DISCLOSED.
  • ·Early-stage disclosure under SEBI LODR for board approvals.
Vaghani Techno-Build LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 from Jatinkumar Patel for Vaghani Techno-Build Ltd (531676). This signals potential substantial acquisition of shares, but no details on structure, size, valuation, or parties beyond the discloser are provided. No merger or amalgamation indicated; appears to be acquisition-related SAST filing.

  • ·Regulation 29(2) SAST disclosure by Jatinkumar Patel – pre-acquisition intention notice.
  • ·Target: Vaghani Techno-Build Ltd (BSE:531676), technology sector.
  • ·All quantitative data (transaction value, share count, % changes, financials): NOT_DISCLOSED.
Elgi Equipments LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

Wasatch Advisors LP filed a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 for Elgi Equipments Ltd, indicating a proposed acquisition or disposal of shares potentially crossing thresholds. No details on transaction size, shares, percentages, or structure are disclosed. This is not a merger or acquisition but a regulatory SAST filing by an FII.

  • ·Disclosure under SEBI SAST Reg 29(2) by Wasatch Advisors LP (likely FII) for Elgi Equipments Ltd (BSE: 522074).
  • ·No quantitative data (transaction value, share count, % change) disclosed.
  • ·Not a merger/amalgamation; pertains to substantial acquisition/sale disclosure.
Genus Paper & Boards LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

Genus Paper & Boards Ltd (BSE:538961) filed a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011, by Bhanwari Lal Todi & Others, indicating intention for substantial acquisition of shares. No details on deal structure, size, valuation, or transaction type are disclosed. This is an early-stage SAST compliance filing, not a full merger or acquisition announcement.

  • ·Disclosure under SEBI SAST Reg 29(2) for potential share acquisition
  • ·Parties: Bhanwari Lal Todi & Others (likely acquirers/promoters)
  • ·No quantitative data (transaction value, share count, % changes: NOT_DISCLOSED)
Industrial Investment Trust LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under SEBI SAST Regulation 29(2) from Nimbus India Ltd and Persons Acting in Concert (PACs) regarding Industrial Investment Trust Limited. This indicates intention for a potential substantial acquisition of shares. No further details on deal structure, size, or terms are disclosed.

  • ·Regulation 29(2) SAST disclosure for intended share acquisition
  • ·Disclosing parties: Nimbus India Ltd & PACs
  • ·Target company: Industrial Investment Trust Limited (501295)
Archit Organosys LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

Archit Organosys Ltd filed a disclosure under SEBI (SAST) Regulation 29(2) received by BSE on December 15, 2025, pertaining to Suchit Amin, indicating a substantial acquisition of shares. No details on deal structure, share count, percentage, valuation, or consideration are disclosed. This is an early-stage SAST notification with limited information available.

  • ·Disclosure under Regulation 29(2) of SEBI SAST for Suchit Amin as acquirer
  • ·Target: Archit Organosys Ltd (BSE: 524640)
  • ·All quantitative data (transaction value, share count, % changes) NOT_DISCLOSED
Arman Holdings LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

Arman Holdings Ltd (BSE:538556) received a disclosure under SEBI (SAST) Regulations 2011, Regulation 29(2) from Lalchand Moolchand Mehta & PACs, signaling intention for substantial acquisition of shares. No details on deal structure, size, valuation, or shareholding changes are disclosed. This is an early-stage regulatory filing in the technology sector with limited actionable information.

  • ·Disclosure under SEBI SAST Reg 29(2) by Lalchand Moolchand Mehta & PACs
  • ·Target: Arman Holdings Ltd (technology sector)
  • ·Quantitative data (transaction value, share count, % changes): NOT_DISCLOSED
PRO CLB GLOBAL LIMITEDMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 from Amrit Nirmal Chamaria for Pro Clb Global Ltd (540703). No details on transaction type, size, shares acquired/disposed, or percentages provided in the filing. This indicates a potential substantial acquisition or disposal crossing disclosure thresholds, but lacks quantitative data.

  • ·SAST Reg 29(2) disclosure by Amrit Nirmal Chamaria (likely acquirer/promoter).
  • ·Target: Pro Clb Global Ltd (technology sector).
  • ·All quantitative data (deal value, share count, % changes) NOT_DISCLOSED.
Nectar Lifesciences LimitedMerger/Acquisitionneutralmateriality 3/10

15-12-2025

BSE received a disclosure under Regulation 29(1) of SEBI (SAST) Regulations, 2011 from Rajasthan Global Securities Pvt Ltd regarding Nectar Lifesciences Ltd. This pertains to a potential substantial acquisition of shares, but no details on deal structure, size, or shareholding changes are provided. Event labeled as Merger/Acquisition, though filing indicates only SAST notice.

  • ·Disclosure under SEBI SAST Reg 29(1) by Rajasthan Global Securities Pvt Ltd
  • ·Target: Nectar Lifesciences Ltd (532649)
  • ·No quantitative data (transaction value, share count, percentages) disclosed
  • ·NOT_DISCLOSED: Deal structure, valuation, parties beyond acquirer, regulatory approvals
Achyut Healthcare LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 from Akshit M Raycha HUF regarding Achyut Healthcare Ltd (543499). No details on acquisition/disposal volume, percentages, valuation, or transaction structure provided. This signals a potential substantial change in shareholding crossing SAST thresholds, but lacks quantitative data.

  • ·Disclosure filed under SEBI SAST Reg 29(2) by Akshit M Raycha HUF
  • ·Target: Achyut Healthcare Ltd (BSE: 543499), sector pharma/technology
  • ·No numerical data (transaction value, shares, % changes: NOT_DISCLOSED)
Blue Cloud Softech Solutions LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 from Siraj Holdings LLC for Blue Cloud Softech Solutions Ltd (539607). This indicates intention for potential substantial acquisition or sale of shares, crossing key thresholds. No details on deal structure, size, or shareholding changes are disclosed.

  • ·SEBI SAST Reg 29(2) disclosure by Siraj Holdings LLC
  • ·Target: Blue Cloud Softech Solutions Ltd (BSE:539607), technology sector
  • ·No quantitative data (transaction value, share count, % changes: NOT_DISCLOSED)
Creative Castings LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 from Darshan H Vadgama & PACs for Creative Castings Ltd (539527). This signals potential intention to acquire shares crossing or entailing further acquisition beyond 5% threshold. No details on deal structure, size, valuation, or shareholding changes are disclosed.

  • ·Regulation 29(2) SAST disclosure filed
  • ·Acquirer: Darshan H Vadgama & PACs
  • ·Target: Creative Castings Ltd (BSE:539527)
  • ·All quantitative data (transaction value, share count, % changes) NOT_DISCLOSED
NCL Industries LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

NCL Industries Ltd has filed a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011, for NCL Buildtek Ltd, signaling intent for a potential substantial acquisition of shares. No details on deal structure, valuation, parties, or quantitative metrics are provided in the filing. This is an early-stage regulatory notice with limited information.

  • ·Disclosure under SEBI SAST Reg 29(2) indicates planned acquisition crossing ownership thresholds in NCL Buildtek Ltd.
  • ·All quantitative data (transaction value, share count, percentages, financials) marked as NOT_DISCLOSED.
  • ·Event classified as Merger/Acquisition but filing specifies only SAST pre-acquisition notice.
ZUARI INDUSTRIES LIMITEDMerger/Acquisitionneutralmateriality 1/10

15-12-2025

Zuari Industries Ltd disclosed under SEBI SAST Regulation 10(5) an acquisition under Regulation 10(1)(a) by/for Jyotsna, indicating a non-open-offer triggering share acquisition. No deal size, share count, percentage, valuation, or other quantitative details are provided in the filing. This is a routine compliance disclosure with limited strategic or financial implications evident.

  • ·Acquisition disclosure for Jyotsna under SAST Reg 10(1)(a) - small-scale, non-material change not triggering open offer
  • ·All quantitative data (transaction value, shares, % stake) NOT_DISCLOSED
  • ·Filed via BSE on December 15, 2025; no merger/amalgamation elements mentioned
Bajaj Steel Industries Ltd.Merger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011, from Vidarbha Tradelinks Pvt Ltd related to Bajaj Steel Industries Ltd. No details on deal structure, size, valuation, or shareholding changes are provided. This signals a potential substantial acquisition but lacks quantitative or strategic specifics.

  • ·SEBI SAST Reg 29(2) disclosure filed by Vidarbha Tradelinks Pvt Ltd
  • ·Involves listed entity Bajaj Steel Industries Ltd (BSE: 507944)
  • ·All quantitative data (transaction value, share count, % changes) NOT_DISCLOSED
Man Infraconstruction LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 from Parag K Shah & Others for Man Infraconstruction Ltd (533169), indicating intention to acquire shares. No details on deal structure, size, valuation, parties, or quantitative metrics are provided in the filing. This is a standard pre-acquisition disclosure with no merger/amalgamation elements mentioned.

  • ·Disclosure under SEBI SAST Reg 29(2) by Parag K Shah & Others.
  • ·No transaction value, share count, percentage changes, or financial metrics disclosed.
  • ·Event labeled as Merger/Acquisition but filing pertains to potential substantial share acquisition.
RGF Capital Markets LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 from Mani Marketing & Holdings Pvt Ltd regarding RGF Capital Markets Ltd (539669). No details on deal structure, size, valuation, or transaction specifics provided. This signals potential intention for substantial share acquisition but lacks quantitative or strategic information.

  • ·Disclosure by Mani Marketing & Holdings Pvt Ltd under SEBI SAST Reg 29(2)
  • ·Target: RGF Capital Markets Ltd (BSE:539669), technology sector
  • ·All quantitative data (transaction value, share count, percentages) NOT_DISCLOSED
Chembond Chemicals LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

Chembond Chemicals Ltd (BSE:544450) filed a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011, by Sameer V Shah, indicating intention to acquire/sell shares crossing thresholds. No details on deal structure, size, valuation, or other parties are disclosed. This is an early-stage substantial acquisition disclosure with all quantitative data NOT_DISCLOSED.

  • ·Disclosure under SEBI SAST Reg 29(2) for Sameer V Shah
  • ·Target: Chembond Chemicals Ltd
  • ·No transaction value, share count, % changes, or financial metrics disclosed (all NOT_DISCLOSED)
  • ·Event labeled as Merger/Acquisition but appears as share acquisition intent
Transport Corporation of India LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 from Bhoruka Supply Chain Solutions Holdings Ltd for Transport Corporation of India Ltd (532349). No details on acquisition size, structure, valuation, or parties' roles are disclosed. This is a routine substantial acquisition disclosure with no quantitative data provided.

  • ·Disclosure under SEBI SAST Regulation 29(2)
  • ·Discloser: Bhoruka Supply Chain Solutions Holdings Ltd
  • ·Target company: Transport Corporation of India Ltd (532349)
Gandhi Special Tubes LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

Gandhi Special Tubes Ltd (BSE:513108) filed a revised disclosure under SEBI SAST Regulation 29(2) by Rahul Gandhi, indicating intent for substantial acquisition of shares. No details on transaction value, share count, percentage changes, or deal structure are disclosed in the filing. This is a routine regulatory update with limited actionable information.

  • ·Revised SAST disclosure under Reg 29(2) for Rahul Gandhi
  • ·Pertains to potential substantial acquisition/disposal crossing thresholds
  • ·No quantitative data (value, shares, %) or merger details provided; all NOT_DISCLOSED
Usha Martin LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under SEBI SAST Regulation 29(2) from Peterhouse Investments India Ltd for Usha Martin Ltd, indicating intention to acquire shares carrying substantial voting rights. No details on deal structure, valuation, stake size, or other quantitative data are provided. This is an early-stage SAST compliance filing, not a confirmed merger or acquisition.

  • ·Regulation 29(2) SAST disclosure by Peterhouse Investments India Ltd
  • ·Target company: Usha Martin Ltd (517146)
  • ·No numerical data (transaction value, share count, percentages) disclosed
Monarch Networth Capital LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under SEBI SAST Regulation 29(2) from Monarch Infrapark Pvt Ltd regarding Monarch Networth Capital Ltd (511551), indicating intention to acquire shares crossing substantial acquisition thresholds. No details on deal size, stake percentage, valuation, or transaction structure are provided in the filing. This is an early-stage regulatory disclosure with minimal information.

  • ·Disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 by Monarch Infrapark Pvt Ltd
  • ·Target company: Monarch Networth Capital Ltd (511551)
  • ·No quantitative data (transaction value, share count, percentages) disclosed
Net Pix Shorts Digital Media LimitedMerger/Acquisitionneutralmateriality 3/10

15-12-2025

Aryaman Financial Services Ltd, as Manager to the Offer, submitted a Public Announcement to BSE for Net Pix Shorts Digital Media Ltd (543247) under SEBI SAST Regulations 3(1), 4, 13(1), 14, and 15(1). This signals a potential open offer triggered by substantial acquisition or change in control. No details on acquirer, target, valuation, structure, or financials disclosed in the summary.

  • ·Public Announcement for open offer under SEBI Takeover Code (SAST)
  • ·Manager to the Offer: Aryaman Financial Services Ltd
  • ·Target: Net Pix Shorts Digital Media Ltd (BSE:543247), technology sector
  • ·All quantitative data (transaction value, share count, percentages, financials): NOT_DISCLOSED
SBL Infratech LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

SBL Infratech Limited (BSE:543366) has submitted a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011, indicating a substantial acquisition of shares or voting rights. No details on parties, deal structure, valuation, or shareholding changes are provided in the filing. This is an informational regulatory filing with no quantitative data extracted.

  • ·Disclosure under SEBI SAST Reg 29(2) for substantial acquisition/voting rights change
  • ·All quantitative data (transaction value, share count, percentages) NOT_DISCLOSED
  • ·No merger/acquisition specifics; filing confirms compliance event only
GOCL Corporation LimitedMerger/Acquisitionneutralmateriality 3/10

15-12-2025

GOCL Corporation Limited's board approved a Scheme of Merger by Absorption of Hinduja National Power Corporation Limited (HNPCL) into GOCL on December 15, 2025. No details on valuation, swap ratio, consideration, or financial impacts are disclosed in the filing. This is an early-stage announcement requiring NCLT and other regulatory approvals.

  • ·Merger type: Scheme of Merger by Absorption (HNPCL into GOCL)
  • ·Parties involved: GOCL Corporation Limited (absorbing entity), HNPCL (target)
  • ·No quantitative data (deal size, swap ratio, financial metrics) disclosed
Redtape LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under SEBI SAST Regulation 10(5) regarding an acquisition under Regulation 10(1)(a) by Rashid in Redtape Ltd (543957). This indicates an initial acquisition crossing the 5% shareholding threshold. No further details on deal size, shares acquired, or valuation are disclosed.

  • ·SAST disclosure for acquisition by Rashid under Reg 10(1)(a), implying >=5% stake crossing.
  • ·Compliance filing with BSE; no quantitative data provided.
  • ·Target: Redtape Ltd; sector noted as technology.
Hit Kit Global Solutions LtdMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 29(1) of SEBI (SAST) Regulations, 2011 from Glimmer Enterprise Pvt Ltd regarding Hit Kit Global Solutions Ltd. This indicates an initial substantial acquisition of shares crossing the 5% threshold or subsequent 2% increments, but no details on stake size, value, or intent are provided. No merger or full acquisition structure is mentioned; it is purely a regulatory SAST filing.

  • ·Event is SAST Reg 29(1) disclosure, not a merger/amalgamation.
  • ·Parties: Disclosing entity - Glimmer Enterprise Pvt Ltd; Company - Hit Kit Global Solutions Ltd (532359).
  • ·All quantitative data (transaction value, share count, % changes) - NOT_DISCLOSED.
  • ·Technology sector context, but no strategic or financial details.
Bannari Amman Sugars LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

Bannari Amman Sugars Ltd has received a SEBI SAST Regulation 29(2) disclosure from Kerala Alcoholic Products Pvt Ltd & PACs, indicating intention for substantial acquisition of shares. No details on deal structure, valuation, share count, or percentages are provided in the filing. This is an early-stage disclosure with limited information available.

  • ·Disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 by Kerala Alcoholic Products Pvt Ltd & PACs.
  • ·Target: Bannari Amman Sugars Ltd (BSE: 500041).
  • ·All quantitative data (transaction value, share count, percentages) NOT_DISCLOSED.
KPIT Technologies LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under SEBI SAST Regulation 29(2) from Ajay Bhagwat & PACs for KPIT Technologies Ltd, indicating potential substantial acquisition of shares. No details on deal structure, size, valuation, or transaction specifics are provided in the filing. This is a regulatory compliance notice, not a confirmed merger or acquisition announcement.

  • ·Disclosure under Reg 29(2) of SEBI SAST by Ajay Bhagwat & PACs; no share count, percentage, or transaction value disclosed.
  • ·Event mislabeled as Merger/Acquisition; actually pertains to potential share acquisition intent.
  • ·All quantitative data (transaction value, share count, % changes, financial metrics) = NOT_DISCLOSED.
HYPERSOFT TECHNOLOGIES LIMITEDMerger/Acquisitionneutralmateriality 2/10

15-12-2025

Hypersoft Technologies Ltd (BSE:539724) filed a disclosure under SEBI SAST Regulation 29(2) for Narra Purna Babu, indicating encumbrance of shares (likely promoter pledge activity). No details on transaction size, share count, percentage, or nature (creation/release) are disclosed. This is a routine SAST compliance filing with no merger/acquisition elements mentioned.

  • ·Regulation 29(2) SAST disclosure by Narra Purna Babu (presumed promoter)
  • ·All quantitative data (value, shares, %) NOT_DISCLOSED
  • ·No merger, acquisition, or amalgamation details; focus on encumbrance only
Easy Trip Planners LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 31(1) and 31(2) of SEBI (SAST) Regulations, 2011, from Nishant Pitti for Easy Trip Planners Ltd on December 15, 2025. No details on any merger, acquisition, transaction value, shareholding changes, or other specifics are provided in the filing summary. This appears to be a routine shareholding pattern disclosure rather than a merger/acquisition event.

  • ·Disclosure by Nishant Pitti (likely promoter) under SEBI SAST Reg 31(1)/(2)
  • ·No quantitative data (transaction value, share count, % changes) disclosed
  • ·No merger/acquisition details; filing is shareholding disclosure only
Kesar Terminals & Infrastructure LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 from Harsh Rajnikant Kilachand HUF & Others for Kesar Terminals & Infrastructure Ltd, indicating intention to acquire substantial shares or voting rights. No details on deal structure, quantum, valuation, or transaction type are disclosed. This is a pre-acquisition SAST filing, not explicitly a merger.

  • ·Disclosure under SEBI SAST Reg 29(2) filed on December 15, 2025
  • ·Acquirer: Harsh Rajnikant Kilachand HUF & Others
  • ·Target: Kesar Terminals & Infrastructure Ltd (BSE: 533289)
  • ·All quantitative data (transaction value, share count, % changes) NOT_DISCLOSED
India Finsec LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under SEBI SAST Regulations 31(1) and 31(2) for India Finsec Ltd from Gopal Bansal & Others on December 15, 2025. No details on transaction structure, value, share count, or percentage changes are provided in the filing. This appears to be a routine shareholding pattern update rather than a full merger/acquisition announcement.

  • ·SAST disclosure filed by Gopal Bansal & Others; no acquisition/merger specifics mentioned.
  • ·All quantitative data (deal value, shares, % changes) NOT_DISCLOSED.
  • ·Potential promoter shareholding update, but lacks material details for impact assessment.
Emami LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a disclosure under Regulation 31(1) and 31(2) of SEBI (SAST) Regulations, 2011, from Diwakar Finvest Pvt Ltd for Emami Ltd on December 15, 2025. No details on acquisition size, shareholding changes, or transaction specifics are mentioned. This is a compliance filing indicating potential substantial shareholding update, not a merger or full acquisition announcement.

  • ·Disclosure by Diwakar Finvest Pvt Ltd under SEBI SAST Reg 31(1)/(2)
  • ·No quantitative data (transaction value, shares, % changes: NOT_DISCLOSED)
  • ·Routine shareholding pattern update; monitor for further SAST filings
Response Informatics LimitedMerger/Acquisitionneutralmateriality 1/10

15-12-2025

Response Informatics Ltd (BSE:538273) filed a revised disclosure under SEBI SAST Regulations 31(1) and 31(2) on December 15, 2025, by Bhagwan Bhumkar Suresh. No details on shareholding changes, transaction value, or acquisition specifics are provided in the filing summary. This is a routine compliance update with no material deal structure or quantitative data disclosed.

  • ·Revised SAST disclosure under Reg 31(1)/(2) for substantial acquisition/shareholding patterns
  • ·Filed by individual Bhagwan Bhumkar Suresh; no role (e.g., promoter) specified
  • ·All quantitative data (transaction value, share count, % changes) NOT_DISCLOSED
Indoco Remedies LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE received a SEBI SAST Regulation 10(7) disclosure from/for 'Kare' regarding an acquisition in Indoco Remedies Ltd under Reg 10(1)(a)(i), indicating a creeping acquisition of up to 5% additional shares. No details on acquirer identity, share count, percentage, valuation, or transaction structure are provided. This is a compliance filing with minimal substantive information disclosed.

  • ·Disclosure under SEBI SAST Reg 10(7) for acquisition under Reg 10(1)(a)(i) in Indoco Remedies Ltd
  • ·Related to entity/individual 'Kare' (incomplete reference)
  • ·No quantitative data (transaction value, shares, % stake) or parties fully disclosed
Genus Power Infrastructures LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

Genus Power Infrastructures Ltd (BSE:530343) filed a disclosure under SEBI SAST Regulation 29(2) for Ishwar Chand Agrawal, indicating a substantial acquisition or disposal of shares. No details on share count, percentage change, transaction value, or deal structure are disclosed. This is an informational SAST compliance filing with no merger or acquisition specifics provided.

  • ·Disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 by Ishwar Chand Agrawal
  • ·Pertains to Genus Power Infrastructures Ltd in the technology sector
  • ·No quantitative data (transaction value, shares, percentages) or deal details disclosed
Indo Borax & Chemicals LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

IIFL Capital Services Ltd, as Manager to the Open Offer, submitted a Public Announcement to BSE for the attention of public shareholders of Indo Borax & Chemicals Ltd. No details on acquirer, deal structure, valuation, or terms are disclosed in the filing. This signals a potential substantial acquisition under SEBI SAST regulations.

  • ·Public Announcement for Open Offer filed with BSE
  • ·Manager: IIFL Capital Services Ltd (formerly IIFL Securities Ltd)
  • ·Target: Indo Borax & Chemicals Ltd (BSE: 524342); public shareholders notified
Gandhar Oil Refinery (India) LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

BSE disclosure under SEBI SAST Regulation 29(2) for Gandhar Coal & Mines Pvt Ltd regarding Gandhar Oil Refinery (India) Ltd indicates a substantial acquisition or disposal crossing thresholds. No details on deal size, shares acquired, percentages, structure, or valuation provided. Likely promoter/group entity activity in energy sector, but all quantitative data NOT_DISCLOSED.

  • ·SAST Reg 29(2) disclosure filed by Gandhar Coal & Mines Pvt Ltd for Gandhar Oil Refinery (India) Ltd (544029).
  • ·Event signals threshold crossing in shareholding (e.g., 5% or 2% change), but specifics NOT_DISCLOSED.
  • ·No merger/amalgamation details; appears to be share acquisition, not full M&A.
Senores Pharmaceuticals LimitedMerger/Acquisitionneutralmateriality 1/10

15-12-2025

Senores Pharmaceuticals Limited (BSE: 544319) disclosed an acquisition event on December 15, 2025, via BSE. No details on target, deal structure, valuation, or parties involved are provided in the summary. Analysis is severely limited by absence of key filing data.

  • ·Event: Acquisition announced by Senores Pharmaceuticals
  • ·All quantitative metrics (deal value, shares, percentages) NOT_DISCLOSED
  • ·Sector: Pharma (technology mentioned but unverified)
Midwest LimitedMerger/Acquisitionneutralmateriality 2/10

15-12-2025

Midwest Ltd (544587) filed a disclosure under SEBI SAST Regulation 10(5) regarding an acquisition under Regulation 10(1)(a) in Kollare, indicating a shareholding crossing 5% threshold. No details on deal size, valuation, structure, or parties beyond Midwest and Kollare are provided. This is a compliance filing with limited strategic or financial information.

  • ·Disclosure under SEBI (SAST) Reg 10(5) for acquisition under Reg 10(1)(a)
  • ·Involves Kollare as target entity
  • ·No quantitative data (transaction value, share count, percentages: all NOT_DISCLOSED)
SPICE ISLANDS INDUSTRIES LIMITEDMerger/Acquisitionneutralmateriality 1/10

15-12-2025

The BSE filing from Spice Islands Industries Ltd discloses Form C dated December 12, 2025, received from Mrs. Bhanuben Girish, pursuant to SEBI (Prohibition of Insider Trading) Regulations 7(2) r/w 6(2). No details on any merger, acquisition, or transaction are mentioned; all deal-related information is NOT_DISCLOSED. This is a routine insider trading plan disclosure with no quantitative data or strategic implications provided.

  • ·Routine SEBI PIT compliance filing (Form C for trading plan)
  • ·Involves Mrs. Bhanuben Girish; no trading details, volumes, or intentions disclosed
  • ·No merger/acquisition elements; user-labeled event not supported by filing
Ace Software Exports ltd.Corporate Actionneutralmateriality 2/10

15-12-2025

Ace Software Exports Ltd announced via newspaper advertisement an extension of the Rights Issue closing date. No specific details on the new closing date, issue size, discount, or subscription status are disclosed in the filing. This update provides limited insight into the ongoing rights issue process.

  • ·Corporate action is an extension of Rights Issue closing date.
  • ·No quantum, record date, entitlement basis, or financial metrics disclosed.
  • ·Technology sector company on BSE (531525).

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India Technology Sector Merger & Acquisition Filings — December 15, 2025 | Gunpowder Blog