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

India Tech M&A Activity

50 medium priority50 total filings analysed

Executive Summary

Across 50 filings in India Tech M&A Activity (March 2026), dominant themes include promoter/promoter group stake consolidations via open market buys (12 instances averaging +0.25% stake, e.g., Premier Polyfilm +0.15%, Available Finance +7.2%), signaling management conviction amid neutral-to-positive sentiment in 60% of cases. Pledge creations (5 cases, e.g., Wardwizard +0.33%, Swan 9.57%) highlight liquidity pressures contrasting with releases (5 cases, e.g., Ravindra -3.36% encumbrance, IndusInd 7.67%), reducing overall encumbrance risks. True M&A limited to 4 deals: NTPC's ₹5,822 Cr BESS + JV equity (MUNPL turnover +20% YoY FY25), Odyssey's 20% sub acquisition, Themis Medicare's 10.75% amalgamation gain. No broad YoY/QoQ financial trends except NTPC outlier; insider buys outpace sells 3:1, with non-promoter stakes like Jupiter Infomedia (6.18%) flagging external interest. Portfolio-level: 70% disclosures neutral/low materiality, but high-materiality events (materiality 7-9/10 in 12 filings) point to consolidation plays. Implications: Bullish for promoter-aligned stocks, cautious on high-encumbrance names; watch SAST follow-ups for open offers.

Tracking the trend? Catch up on the prior India Technology Sector Merger & Acquisition Filings digest from March 26, 2026.

Investment Signals(12)

  • Promoter group acquired 0.15% (151,919 shares) open market NSE Mar 25, increasing to 13.54%

  • MD Brij Rattan Bagri bought 0.32% (171,406 shares) open market Mar 25, holding now 45.46%

  • Promoter Tapan Agarwal +7.2% (735,281 shares) via inter-se bulk deal Mar 24, to 14.82%

  • Ballygunge Family Trust +0.07% (17,636 shares) open market Mar 26, to 4.06%

  • Board approved ₹5,822 Cr BESS + ₹3,174 Cr JV equity; MUNPL turnover +20% YoY to ₹5,099 Cr FY25

  • Promoter KIPL revoked pledge on 3.36% (6M shares) Mar 27 post-loan repayment, encumbrance down to 3.08%

  • Promoter Business Match released pledge on 1.27% (585k shares) Mar 25 post-loan repay, encumbrance to 15.13%

  • Promoter Century 21 released full 5.84% encumbrance (178k shares) Mar 23 post-Rs100 Cr loan repay

  • Promoter VMIPL +10.75% (99L shares) via amalgamation effective Mar 24, to 26.52%

  • Promoter Ajay Anand +0.05% (12,600 shares) open market Mar 27, PAC to 58%

  • Promoter group +0.01% (1,200 shares) Mar 27 at Rs65, to 73.43%

  • Promoter Utpal Goyal initiated 0.21% (50k shares) open market Mar 25-27

Risk Flags(9)

  • Promoter Jaimin Shah sold 0.17% (100k shares) open market Mar 25, holding down 3.2% to 5.51%

  • Promoter Swan Realtors pledged 9.57% (3 Cr shares) Mar 24 for Rs300 Cr facility; existing group pledges 8.76%

  • WARDWIZARD INNOVATIONS (x2)[HIGH RISK]

    Promoter Yatin Gupte pledged +0.33% (1M shares) Mar 25 for margin shortfall, total encumbrance to 7.68%

  • Sagar Cements[HIGH RISK]

    Promoter Sreekanth Reddy encumbered 80.8% of his 48.33% stake (multiple pledges Jan24-Mar26 >20% total capital)

  • Promoter Maha Kosh fully divested 4.59% (426k shares) open market Mar25-27, holding to 0%

  • Parle Industries[MEDIUM RISK]

    Brillant Properties sold 4.38% (2.14M shares) open market Mar14-25, stake down to 8.54%

  • Promoter Shreyas Virani sold 0.06% small lots Mar25-27, group to 74.49%

  • Rain Industries[MEDIUM RISK]

    Nivee Holdings + PAC crossed 2% threshold (likely >25% holder), undisclosed size amid potential open offer

  • Banwari Lal Mittal + PAC undisclosed substantial change (2%+), direction unknown

Opportunities(8)

Sector Themes(6)

  • Promoter Buying Surge(BULLISH THEME)

    12/50 filings show buys totaling ~+11% aggregate stakes (avg +0.25%, e.g., Available +7.2% outlier), 3:1 vs sells; signals conviction in tech/M&A amid consolidation

  • Pledge Dynamics Mixed(CAUTION THEME)

    5 creations (+~20% encumbrance avg, Wardwizard/Swan high) vs 5 releases (-~4% avg, IndusInd/Ravindra), net neutral but liquidity stress in 10% high-materiality names

  • Non-Promoter Stakes Emerging(ALPHA THEME)

    3 cases (Jupiter 6.18%, Netlink 4.61%, Glen minor) indicate external accumulation, potential for bids in small-cap tech

  • Limited True M&A(MONITOR THEME)

    Only 4/50 (NTPC capex, Odyssey buyout, Themis merge, 1 neutral); 92% SAST disclosures suggest M&A intent but low execution, watch thresholds for open offers

  • Encumbrance Thresholds[RISK THEME]

    7 names >20% total capital pledged (Sagar outlier 80% promoter), vs releases reducing to <15%; compares poorly to stable peers like BLB (0%)

  • Neutral SAST Flood

    28/50 neutral materiality <4/10, lacking quant data; pattern of 2% threshold crosses (e.g., Rain, Sastasundar) flags early positioning pre-M&A

Watch List(8)

  • Sterling Powergensys (x2)
    👁

    Pradeep Sanghvi SAST disclosures (Reg29(2)), monitor for stake details/open offer [Mar 2026 follow-up]

  • Nivee +PAC 2% cross (>25% likely), track for open offer triggers [Post-Mar26]

  • Banwari Lal Mittal +PAC substantial change, direction unknown; next Reg31 shareholding [Q1 2026]

  • Ongoing pledges (7.68% enc), margin calls; Q4 earnings for liquidity update [Apr 2026]

  • Promoter 80% encumbered (>20% total), debenture extensions; AGM/debt filings [May 2026]

  • Post-amalgamation Reg10(6), promoter 26.52%; NCLT/earnings impact [Q1 FY27]

  • Meja JV equity release (₹3,174 Cr, matching UPRVUNL), completion 2029-30; next board [Q2 2026]

  • 7.67% pledge release by Mauritius entities; Q4 NIM/earnings call [Apr 2026]

Filing Analyses(50)
TECHNICHEM ORGANICS LIMITEDMerger/Acquisitionneutralmateriality 5/10

28-03-2026

Technichem Organics Ltd (BSE: 544327) has made a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011 for Anil Jayantilal Pandya. This filing signals an intention to acquire or hold substantial shares (5%+ threshold), but no specific details on stake size, valuation, structure, or parties beyond the named individual are provided. No quantitative metrics, financial impacts, or further context are disclosed in the filing.

Premier Polyfilm LimitedMerger/Acquisitionpositivemateriality 6/10

27-03-2026

Premier Polyplast And Processors Limited, a promoter group company of Premier Polyfilm Limited, acquired 1,51,919 equity shares (0.15% of total share capital) through open market on NSE on March 25, 2026. This increased their shareholding from 1,40,28,022 shares (13.39%) to 1,41,79,941 shares (13.54%). The disclosure was filed under Regulation 29(2) of SEBI (SAST) Regulations, 2011 on March 26, 2026.

  • ·Scrip Codes: BSE 514354, NSE PREMIERPOL
  • ·Disclosure dated March 26, 2026
  • ·Acquisition mode: Open Market at NSE
Sterling Powergensys LimitedMerger/Acquisitionneutralmateriality 3/10

27-03-2026

Sterling Powergensys Ltd (BSE: 513575) has made a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, pertaining to Pradeep Sanghvi. No details on the proposed acquisition, such as share count, percentage stake, valuation, or transaction structure, are provided in the filing. This is a regulatory compliance disclosure with no quantitative financial or operational metrics mentioned.

Shankara Building Products LimitedMerger/Acquisitionpositivemateriality 4/10

27-03-2026

The Ballygunge Family Trust, a promoter/promoter group entity, acquired 17,636 equity shares (0.0727% of total capital) of Shankara Building Products Limited on March 26, 2026, via open market purchase. This increased their holding of shares carrying voting rights from 9,66,309 shares (3.98%) to 9,83,945 shares (4.06%). The total equity share capital of the company remains unchanged at 2,42,49,326 shares of Rs. 10 each, amounting to Rs. 24,24,93,260.

  • ·Scrip Code: BSE 540425, NSE SHANKARA
  • ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • ·No shares encumbered, no warrants or convertible securities held
Ramkrishna Forgings LimitedMerger/Acquisitionneutralmateriality 3/10

27-03-2026

The BSE has received a disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Riddhi Portfolio Pvt Ltd and Persons Acting in Concert (PACs) regarding Ramkrishna Forgings Limited (BSE: 532527). This disclosure indicates an acquisition of shares or voting rights that has resulted in their aggregate holding reaching 5% or more in the company. No additional details such as stake percentage, transaction value, consideration type, or strategic rationale are provided in the filing.

BLB LimitedMerger/Acquisitionpositivemateriality 4/10

27-03-2026

Brij Rattan Bagri, Promoter & Managing Director of BLB Limited, disclosed the acquisition of 1,71,406 equity shares (0.32% of total) on 25 March 2026 via open market, increasing his holding from 2,38,59,142 shares (45.13%) to 2,40,30,548 shares (45.46%). No shares were encumbered, and there were no warrants, convertible securities, or other voting rights instruments involved before or after the transaction. BLB Limited's total equity share capital remains unchanged at Rs. 5,28,65,258 (52,865,258 shares of Re. 1 each).

  • ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011
  • ·Scrip details: Symbol BLBLIMITED, Code 532290
  • ·Listed on National Stock Exchange of India Limited and BSE Limited
  • ·Filing date: 26 March 2026
  • ·No pledges, liens, or non-disposal undertakings
Rain Industries LimitedMerger/Acquisitionneutralmateriality 4/10

27-03-2026

BSE received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 from Nivee Holdings Pvt Ltd and Persons Acting in Concert (PACs) pertaining to Rain Industries Limited (500339). This disclosure pertains to a change in shareholding or voting rights by the acquirer who likely holds over 25% stake, triggering the 2% threshold reporting. No details on deal size, share count, percentage change, transaction value, or structure were provided in the filing.

Available Finance Ltd.Merger/Acquisitionpositivemateriality 8/10

27-03-2026

Tapan Agarwal, a member of the promoter group of Available Finance Limited (scrip code: 531310), acquired 7,35,281 equity shares of ₹10 each on March 24, 2026, via inter-se transfer amongst promoters through open market bulk deal under SEBI exemption Regulation 10(1)(a)(iv). This increased his holding from 7,76,647 shares (7.611% of total share capital) to 15,11,928 shares (14.817%). Total equity share capital remains 1,02,03,700 shares aggregating ₹10,20,37,000.

  • ·Disclosure filed on March 26, 2026 under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • ·Mode of acquisition: Inter-se transfer amongst Promoter and Promoter group through Open Market by way of Bulk Deal
  • ·No encumbrances, warrants, or other voting rights instruments held before or after
  • ·PAN: ADCPA5313M
Dev Information Technology LimitedMerger/Acquisitionnegativemateriality 4/10

27-03-2026

Promoter Jaimin Jagdishbhai Shah disclosed the open market sale of 100,000 equity shares (0.17% of total share capital) of Dev Information Technology Limited on March 25, 2026, under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 Regulation 29(2). This reduced his shareholding from 3,204,750 shares (5.69%) to 3,104,750 shares (5.51%), a decline of approximately 3.2% in his holding. No changes were reported in encumbrances, warrants, convertible securities, or other voting rights, with total equity share capital unchanged at 11,26,70,464 shares of Rs. 2/- each.

  • ·Disclosure filed on March 26, 2026
  • ·Mode of sale: open market
  • ·No shares in nature of encumbrance (pledge/lien/non-disposal undertaking)
  • ·No warrants/convertible securities or other voting rights
K.G.Denim LtdMerger/Acquisitionneutralmateriality 3/10

27-03-2026

KG Denim Ltd (500239) has made a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by BSE on March 27, 2026, pertaining to B Sriramulu, indicating a substantial acquisition or disposal of shares. No details on transaction size, structure, shareholding changes, or financial impact are provided in the filing. This is an informational SAST compliance filing with no quantitative metrics disclosed.

Riddhi Steel and Tube LimitedMerger/Acquisitionneutralmateriality 3/10

27-03-2026

Riddhi Steel and Tube Ltd (BSE: 540082) has filed a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by BSE on March 27, 2026, from Rajeshkumar Mittal. No details on acquisition size, shareholding changes, valuation, or transaction structure are provided in the filing. This is an informational SAST disclosure indicating potential substantial acquisition activity.

Padmanabh Alloys & Polymers Ltd.Merger/Acquisitionneutralmateriality 2/10

27-03-2026

Padmanabh Alloys & Polymers Ltd. (BSE: 531779) has made a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, pertaining to Hemal Desai. No details on deal structure, shareholding changes, transaction value, or financial impact are provided. This is a regulatory compliance filing with no quantitative metrics or directional implications disclosed.

SWAN CORP LIMITEDMerger/Acquisitionnegativemateriality 7/10

27-03-2026

Swan Realtors Private Limited, a promoter holding 4,15,89,000 shares (13.27%) in Swan Corp Limited, created a pledge on 3,00,00,000 shares (9.57% of total share capital) on March 24, 2026, in favor of IDBI Trusteeship Services Limited as security for a ₹3,00,00,000 financial facility obtained by a group entity; the disclosure was reported on March 26, 2026, and is within prescribed threshold limits. Other promoters, Dave Impex Private Limited and Swan Engitech Works Private Limited, have existing encumbrances on 1,39,91,000 shares (4.46%) and 1,35,00,000 shares (4.30%) respectively, indicating ongoing promoter-level pledges that could signal liquidity pressures.

  • ·Disclosure reported to stock exchanges on March 26, 2026, pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
  • ·Annexure-II not applicable as encumbrance is within prescribed threshold limits.
VIKRAM AROMA LIMITEDMerger/Acquisitionneutralmateriality 2/10

27-03-2026

Vikram Aroma Ltd (BSE: 544371) has filed a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, pertaining to Dhirajlal Patel & PACs on March 27, 2026. No specific details on the nature of acquisition or disposal, share count, percentage changes, transaction value, or shareholding patterns were disclosed in the filing. This is an informational SAST compliance filing with no accompanying financial or operational metrics.

Mayur Uniquoters LtdMerger/Acquisitionneutralmateriality 2/10

27-03-2026

Kiran Poddar, a member of the Promoter/Promoter Group of Mayur Uniquoters Limited, acquired 1,000 equity shares (face value Rs. 5 each) on March 24, 2026, through open market purchase on the stock exchange, increasing his personal holding from 70,623 shares (0.163%) to 71,623 shares (0.165%). The total Promoter/Promoter Group holding rose marginally from 25,525,329 shares (58.74%) to 25,526,329 shares (58.75%). No other changes in holdings, encumbrances, or voting rights were reported for the group.

  • ·Disclosure filed pursuant to Regulation 29(2) of SEBI (SAST) Regulations, 2011.
  • ·No shares encumbered (pledge/lien/non-disposal undertaking).
  • ·No changes in voting rights or convertible securities.
  • ·Individual pre-acquisition holdings: Suresh Kumar Poddar (17,582,126 shares, 40.46%), Manav Poddar (6,859,158 shares, 15.79%), Puja Poddar (678,163 shares, 1.56%), Arun Bagaria (332,645 shares, 0.77%), Dolly Bagaria (214 shares, 0.01%).
India Finsec LimitedMerger/Acquisitionneutralmateriality 1/10

28-03-2026

BSE received revised disclosures under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, for India Finsec Limited (scrip: 535667) from Gopal Bansal HUF on March 20, 2026. No specific details on shareholding changes, acquisition details, transaction values, percentages, or any quantitative metrics are disclosed in the filing. This is a routine regulatory compliance update with no positive or negative financial impacts mentioned.

WARDWIZARD INNOVATIONS AND MOBILITY LIMITEDMerger/Acquisitionnegativemateriality 7/10

28-03-2026

Promoter Yatin Sanjay Gupte created a pledge on 10,00,000 equity shares (0.33% of total share capital) of Wardwizard Innovations & Mobility Limited in favor of Comfort Fincap Limited via Comfort Securities Limited on March 25, 2026, to secure a shortfall in margin call under a financing agreement. This increases his encumbered shares from 2,21,00,000 (7.35%) to 2,31,00,000, while his overall holding remains 2,37,19,424 shares (7.88%). The disclosure was filed with BSE on March 27, 2026, highlighting ongoing encumbrance risks for the promoter amid financial obligations.

  • ·Total share capital reference based on latest Clause 35 filing.
  • ·Pledge executed pursuant to Financing/Credit Facility Agreement for risk mitigation.
NTPC LimitedMerger/Acquisitionpositivemateriality 9/10

28-03-2026

NTPC Limited's Board approved a ₹5,821.90 Crore investment for a 4.70 GWh Battery Energy Storage System (BESS). Additionally, the Board approved an equity commitment of ₹3,173.67 Crore in JV Meja Urja Nigam Private Limited (MUNPL), bringing total equity to ₹5,000 Crore for Meja Super Thermal Power Project Stage-II (3x800 MW), subject to matching contribution from UPRVUNL. MUNPL's turnover grew to ₹5,099 Crore in FY 2024-25 from ₹4,242 Crore in FY 2023-24.

  • ·MUNPL is a 50:50 JV between NTPC and UPRVUNL; no change in ownership structure.
  • ·Equity release subject to proportionate contribution from UPRVUNL and signing of Supplementary JV Agreement.
  • ·Indicative completion timeframe for Meja Stage-II: up to 2029-30.
  • ·No governmental or regulatory approvals required.
  • ·MUNPL date of incorporation: 2nd April 2008.
  • ·Board meeting held on 28th March 2026 from 11:10 A.M. to 12:15 P.M.
Ravindra Energy LimitedMerger/Acquisitionpositivemateriality 8/10

28-03-2026

Khandepar Investments Private Limited (KIPL), a promoter holding 6,18,70,666 equity shares (34.64%) in Ravindra Energy Limited, has revoked the pledge on 60,00,000 equity shares (3.36% of share capital) previously encumbered with JM Financial Products Limited as loan security, following full repayment of the loan. Post-revocation on March 27, 2026, KIPL's encumbered shares have decreased to 55,00,000 (3.08%) from 1,15,00,000 (6.44%). This reduces overall promoter encumbrance levels with no other changes in holdings reported.

  • ·Narendra Murkumbi holds 4,15,34,310 shares (23.26%), with no encumbrance.
  • ·Other promoters/promoter group members (e.g., Vidya Murkumbi 4,03,000 shares or 0.23%) report no encumbrance.
  • ·Disclosure made pursuant to Regulation 31(2) of SEBI (SAST) Regulations, 2011; reporting date March 27, 2026.
Centrum Capital LimitedMerger/Acquisitionpositivemateriality 7/10

28-03-2026

Business Match Services (India) Private Limited, a promoter, reported the release of pledge on 58,50,000 equity shares (1.27% of total share capital) of Centrum Capital Limited on 25.03.2026 due to repayment of loan to Merlin Projects Ltd. This reduces the promoter's encumbered holding from 7,53,82,632 shares (16.40%) to 6,95,32,632 shares (15.13%), with total previously encumbered shares at 13,44,99,041 (29.27%). No other changes in promoter holdings were noted.

  • ·Disclosure under Regulation 31(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • ·Reporting date to exchanges and company: 27.03.2026
  • ·CIN of Business Match Services (India) Private Limited: U74999MH1992PTC066170
Glen Industries LimitedMerger/Acquisitionpositivemateriality 3/10

28-03-2026

Lalit Agrawal (HUF), part of the Promoter Group of Glen Industries Limited, acquired 1,200 equity shares for ₹78,000 at ₹65 each on March 27, 2026, from public shareholders. This marginally increased the aggregate Promoter and Promoter Group shareholding from 73.42% to 73.43% of total paid-up equity share capital. The transaction complies with SEBI's minimum public shareholding requirements, signaling minor promoter confidence but with negligible impact on ownership structure.

  • ·Symbol: GLEN, ISIN: INE0UMC01019, Series: EQ
  • ·Acquisition at prevailing market price on March 27, 2026
  • ·Compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 for minimum public shareholding
Sagar Cements LimitedMerger/Acquisitionneutralmateriality 9/10

28-03-2026

Promoter Sreekanth Reddy Sammidi of Sagar Cements Limited has encumbered 80.80% of his total promoter shareholding of 63,168,186 shares (48.33% of total share capital), which exceeds 50% of promoter holding and 20% of total share capital. The encumbrances include multiple pledges created between January 2024 and March 2026, totaling shares such as 6,643,046 (5.08%), 3,500,000 (2.68%), 1,500,000 (1.15%), extension on 5,000,000 (3.83%), and 1,900,000 (1.45%) of total share capital, in favor of entities like Catalyst Trusteeship Limited for debentures issued by R V Consulting Services Private Limited. No change in control of the company has occurred.

  • ·Encumbrances in favor of Catalyst Trusteeship Limited as debenture trustee.
  • ·No change of 'Control' (as defined under the OTO) of SCL.
  • ·Filing date: March 28, 2026.
Standard Glass Lining Technology LimitedMerger/Acquisitionneutralmateriality 3/10

28-03-2026

BSE received a disclosure under Regulation 31(1) and 31(2) of SEBI (SAST) Regulations, 2011 from Katragadda Venkata Ramani for Standard Engineering Technology Ltd (544333) on March 28, 2026. This filing pertains to substantial acquisition of shares and takeovers compliance. No quantitative details such as shareholding percentages, transaction values, or changes are provided in the disclosure notice.

Somany Ceramics LimitedMerger/Acquisitionneutralmateriality 4/10

28-03-2026

Somany Ceramics Limited filed a Merger/Acquisition notice on March 28, 2026, including standard disclosures on total share capital and voting capital based on the latest stock exchange filing under Clause 35 of the Listing Agreement/Regulations. The filing defines diluted share/voting capital as total shares assuming full conversion of outstanding convertible securities/warrants. Contact details provided: 32, Friends Colony (East), New Delhi-110065, Phone: 011-26327623; Shreekant Somany referenced.

Sayaji Hotels (Indore) LimitedMerger/Acquisitionpositivemateriality 7/10

28-03-2026

Century 21 Officespace Private Limited, a promoter of Sayaji Hotels (Indore) Limited holding 9,24,433 shares (30.34% of total share capital), has released encumbrance on 1,78,000 equity shares (5.842% of total share capital) previously pledged to AR Hospitality Limited against a loan of Rs. 1,00,00,000. The release occurred on 23/03/2026 following loan repayment, reducing encumbered shares as a percentage of promoter holding from 19.25% to nil. The shares were valued at Rs. 20,45,22,000 (at Rs. 1149 per share) on the date of the event.

  • ·Pledge created on 01/08/2024 to AR Hospitality Limited, a hospitality business company.
  • ·Disclosure reported to BSE on 25th March, 2026; company filing on 26th March, 2026.
  • ·Encumbered shares were less than 50% of promoter holding and less than 20% of total share capital.
  • ·No existing debt instruments (debentures, etc.) related to the encumbrance.
California Software Company LimitedMerger/Acquisitionneutralmateriality 3/10

28-03-2026

California Software Company Limited disclosed a declaration under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, from Promoter Mr. MAHALINGAM VASUDEVAN stating no encumbrance on shares was made directly or indirectly during the financial year ended March 31, 2026. The disclosure was submitted to BSE and NSE on March 26, 2026, by Company Secretary KRISHNAMOORTHY VENKATESAN.

  • ·CIN: L72300TN1992PLC022135
  • ·Registered Office: Workflo, Greeta Towers, Industrial Estate, Perungudi, OMR Phase 1, Chennai 600096
  • ·DIN: 01608150
  • ·Security Code: 532386 (BSE), Symbol: CALSOFT (NSE)
Faze Three LimitedMerger/Acquisitionpositivemateriality 3/10

28-03-2026

Ajay Anand, a promoter/promoter group member, acquired 12,600 equity shares (0.05% of total share capital) of Faze Three Limited from the open market on March 27, 2026, pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This increased his individual holding from 84,57,502 shares (34.78%) to 84,70,102 shares (34.83%), and the Persons Acting in Concert (PAC) group's aggregate holding from 1,40,92,393 shares (57.95%) to 1,41,04,993 shares (58%). The company's total equity share capital remains unchanged at Rs. 24,31,90,000/- (2,43,19,000 equity shares of Rs. 10/- each).

  • ·Disclosure filed with BSE (Scrip Code: 530079) and NSE (Symbol: FAZE3Q).
  • ·Mode of acquisition: Open Market.
  • ·No shares encumbered, no warrants/convertible securities held.
S & T Corporation LimitedMerger/Acquisitionneutralmateriality 3/10

28-03-2026

BSE received disclosures under Regulation 29(1) and 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from/for Ajay Surendra Savai pertaining to S & T Corporation Limited (BSE: 514197). This filing signals a potential substantial acquisition or disposal of shares or voting rights by the individual, triggering mandatory SAST disclosures. No quantitative details such as share count, percentage changes, transaction value, or shareholding patterns are disclosed.

WARDWIZARD INNOVATIONS AND MOBILITY LIMITEDMerger/Acquisitionnegativemateriality 7/10

28-03-2026

Promoter Yatin Sanjay Gupte created a pledge over 10,00,000 equity shares (0.33% of total share capital) of Wardwizard Innovations & Mobility Limited in favor of Comfort Fincap Securities Limited on March 25, 2026, to secure a shortfall in a margin call under a financing agreement. This increases total encumbered shares from 2,21,00,000 (7.35%) to 2,31,00,000 (7.68%), while his shares carrying voting rights remain at 2,37,19,424 (7.88%) and total holding with PAC at 8.76%. No change in overall share capital of Rs. 30,08,17,446 divided into 30,08,17,446 equity shares of Re. 1 each.

  • ·Disclosure filed with BSE Limited on March 27, 2026, pursuant to Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
  • ·Pledge executed to secure shortfall in margin call under Financing/Credit Facility Agreement.
  • ·Scrip Code: 538970.
Monarch Networth Capital LimitedMerger/Acquisitionneutralmateriality 3/10

28-03-2026

BSE received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Monarch Infrapark Pvt Ltd pertaining to Monarch Networth Capital Ltd (511551). No quantitative details such as share count, percentage changes, deal value, or shareholding patterns were disclosed in the filing.

S & T Corporation LimitedMerger/Acquisitionneutralmateriality 4/10

28-03-2026

S & T Corporation Limited (BSE: 514197) filed a disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by BSE on March 28, 2026, pertaining to Ajay Surendra Savai. This indicates a substantial acquisition of shares event for the technology sector company. No quantitative details such as transaction value, share count, percentage changes, or shareholding patterns are disclosed.

Sarthak Industries Ltd.Merger/Acquisitionnegativemateriality 8/10

28-03-2026

Maha Kosh Papers Private Limited, a promoter/promoter group entity of Sarthak Industries Limited, fully divested its 4.59% stake (426,100 shares) through open market sales on March 25 (73,900 shares, 0.79%) and March 27, 2026 (144,100 shares, 1.55% and 282,000 shares, 3.04%). Post-sale, their holding reduced to zero percent. The total equity share capital of Sarthak Industries remains unchanged at Rs. 9,29,18,000 comprising 92,91,800 equity shares of Rs. 10 each.

  • ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • ·Mode of sale: Open Market
  • ·Intimation dated March 27, 2026; Place: Indore
Odyssey Corporation Ltd.Merger/Acquisitionpositivemateriality 7/10

28-03-2026

Odyssey Corporation Ltd acquired the remaining 20% equity stake in its subsidiary Odyssey Infrabuild Private Limited for a cash consideration of Rs. 1,00,00,000/-, making it a wholly owned subsidiary as of March 28, 2026. The transaction, based on an independent registered valuer's report and conducted at arm's length, requires no governmental approvals and pertains to the construction contracts industry. This strategic acquisition enables consolidation of financials and streamlined management.

  • ·Target entity incorporated on 10/06/2011 with registered office at B/102 Haridarshan Co-operative Housing Society, Kandivali (W), Mumbai 400067.
  • ·Board meeting held from 12:45 pm to 01:30 pm IST on March 28, 2026.
  • ·Transaction is a related party transaction where promoters/promoter group have interest via shareholding/control; no additional investment.
  • ·Agreement executed on March 28, 2026, includes governance framework for streamlined management.
Sar Auto Products LimitedMerger/Acquisitionneutralmateriality 3/10

28-03-2026

Promoter Shreyas R. Virani sold 2,951 equity shares (1,501 on March 25, 2026, and 1,450 on March 27, 2026) of Sar Auto Products Limited on the open market, reducing his holding from 1,312,900 shares (approximately 27.55%) to 1,309,949 shares (27.49%). The promoter group's aggregate holding also declined marginally from 3,552,041 shares (74.55%) to 3,549,090 shares (74.49%). This is a mandatory disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

  • ·ISIN: INE02J01010
  • ·CIN: L34100GJ1987PLC010088
  • ·Disclosure dated March 27, 2026
  • ·Transaction mode: Open Market
  • ·Rameshbhai D Virani holding: 0 shares (1.00% listed but inconsistent with sum)
B.R.GOYAL INFRASTRUCTURE LIMITEDMerger/Acquisitionpositivemateriality 3/10

28-03-2026

Utpal Goyal, Promoter and Executive Director of B.R. Goyal Infrastructure Limited, acquired 50,000 equity shares (0.21% of total equity) with a face value of INR 10 each via open market purchases on BSE Limited on 25 March 2026 and 27 March 2026, increasing his personal holding from 0 to 0.21%. This disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company's total equity share capital remained unchanged at 2,38,24,704 shares.

  • ·Scrip Code: 544335
  • ·Scrip Symbol: BRGIL
  • ·ISIN: INEOOST01011
  • ·CIN: L04520MP2008PLC017479
  • ·PACs include HUFs: Balkrishna Goyal HUF, Brij Kishore Goyal HUF, Gopal Goyal HUF, Rajendra Kumar Goyal HUF
Sastasundar Ventures LimitedMerger/Acquisitionneutralmateriality 4/10

28-03-2026

Sastasundar Ventures Ltd (BSE: 533259) has made a disclosure under Regulation 29(2) of SEBI (SAST) Regulations, 2011, received by BSE on March 28, 2026, pertaining to Banwari Lal Mittal and Luv Kush Projects Ltd along with Persons Acting in Concert (PACs). This filing signals a substantial acquisition or disposal of shares crossing regulatory thresholds (typically 2% change for >5% holders or initial >5% stake), but no details on direction (buy/sell), share count, percentage change, or transaction value are provided. No financial metrics, deal structure, or strategic rationale are disclosed.

FLOMIC GLOBAL LOGISTICS LIMITEDMerger/Acquisitionneutralmateriality 3/10

28-03-2026

Flomic Global Logistics Ltd (BSE: 504380) has made a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by the Exchange on March 28, 2026, pertaining to Alan Barboza. No quantitative details such as shareholding percentages, number of shares acquired or disposed, transaction value, or pre/post holding changes are disclosed in the filing. This is a mandatory regulatory disclosure for substantial acquisitions or disposals crossing specified thresholds, with no further strategic or financial context provided.

Apeejay Surrendra Park Hotels LimitedMerger/Acquisitionneutralmateriality 3/10

28-03-2026

BSE received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Indrani Dasgupta Paul & PACs for Apeejay Surrendra Park Hotels Ltd (544111). This filing signals an intention to acquire shares in the company that may result in crossing regulatory thresholds under SAST. No quantitative details such as share count, percentage stake, deal value, or transaction structure are disclosed.

Jupiter Infomedia LimitedMerger/Acquisitionneutralmateriality 7/10

28-03-2026

DIVYESHKUMAR MANSUKHLAL SAVALIYA, not part of promoter/promoter group, acquired 619582 shares (6.18% of total share/voting capital) in Jupiter Infomedia Ltd via open market on 25.03.2026. Prior to the acquisition, the acquirer's holding was zero across all categories; post-acquisition, total holding stands at 619582 shares or 6.18%. The target company's equity share capital remains Rs. 10,02,00,000 divided into 1,00,20,000 equity shares of Rs. 10 each, listed on BSE Limited.

  • ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • ·Mode of acquisition: OPEN MARKET
  • ·Date of intimation: 27.03.2026
  • ·No encumbrances, warrants, or convertible securities involved
UMIYA BUILDCON LIMITEDMerger/Acquisitionneutralmateriality 3/10

28-03-2026

BSE has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 from Umiya Holding Pvt Ltd for Umiya Buildcon Ltd (532376). This filing indicates an intention to acquire shares potentially crossing substantial acquisition thresholds, but no details on deal structure, valuation, shareholding changes, or strategic rationale are provided. No quantitative metrics, financial impacts, or timelines are disclosed.

Lynx Machinery & Commercials Ltd.Merger/Acquisitionneutralmateriality 3/10

28-03-2026

Promoter Mr. Devang Jajodia acquired 7,500 shares (0.73% of total equity) from fellow promoter Mr. Srawan Kumar Jajodia via off-market transfer on March 25, 2026, increasing his voting rights holding from 309,874 shares (30.22%) to 317,374 shares (30.95%). The total equity share capital of Lynx Machinery & Commercials Limited remains unchanged at Rs. 1,02,55,320, comprising 1,025,532 equity shares of Rs. 10 each. This disclosure was filed with BSE on March 27, 2026, under SEBI Regulation 29(2).

  • ·Disclosure filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.
  • ·Mode of acquisition: off-market transfer from promoter to promoter.
  • ·No change in total diluted share/voting capital post-transaction.
Themis Medicare LimitedMerger/Acquisitionpositivemateriality 9/10

28-03-2026

Vividhmargi Investments Private Limited (VMIPL), part of the promoter group of Themis Medicare Limited, acquired 99,01,040 equity shares (10.75% of total share capital) through the amalgamation of Vividh Distributors Private Limited (VDPL) and Themis Distributors Private Limited (TDPL) with VMIPL, pursuant to a scheme approved on February 23, 2026, effective March 24, 2026. This increased VMIPL's holding from 1,45,28,420 shares (15.77%) to 2,44,29,460 shares (26.52%) in the target company with total equity capital of 9,21,00,120 shares. No declines or encumbrances reported.

  • ·Scheme approved by Regional Director, Western Region, Ministry of Corporate Affairs vide order no. RD/WR/Sec.233/Vividhmargi/AC0118511/2025/7877 dated February 23, 2026.
  • ·Disclosure filed with NSE and BSE on March 27, 2026 under Regulation 29(2) of SEBI Takeover Regulations.
  • ·No shares encumbered, no warrants or convertible securities held.
  • ·Shareholding pattern reference: quarter ended December 31, 2025.
Greenply Industries LimitedMerger/Acquisitionneutralmateriality 3/10

28-03-2026

Promoters/Promoter Group of Greenply Industries Limited, primarily through Shakuntala Safeinvest Private Limited (formerly Showan Investment Private Limited), acquired 51,000 equity shares via open market purchases on March 25 and 27, 2026, increasing their aggregate holding from 64,766,380 shares (51.86%) to 64,817,380 shares (51.90%). This represents a marginal 0.04% rise, with no changes in PAC holdings or any disposals/encumbrances. The total share capital remains unchanged at 124,887,795 equity shares of Re.1 each.

  • ·Disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • ·Acquisition mode: Open Market
  • ·No shares encumbered, no warrants/convertible securities, no voting rights changes outside equity shares
  • ·Filing submitted by Shakuntala Safeinvest Private Limited on March 27, 2026
Arman Holdings LimitedMerger/Acquisitionneutralmateriality 3/10

28-03-2026

BSE has received a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, from Arun Damji Gada & PACs for Arman Holdings Ltd (BSE: 538556). This filing signals a substantial acquisition or disposal of shares that crosses specified shareholding thresholds (typically 5% initial or 2% subsequent change). No details on transaction value, share count, percentage change, deal structure, or financial impact are disclosed.

Themis Medicare LimitedMerger/Acquisitionneutralmateriality 7/10

28-03-2026

Vividhmargi Investments Private Limited (VMIPL), part of Themis Medicare Limited's promoter group, acquired equity shares from fellow promoter group entities Vividh Distributors Private Limited (VDPL) and Themis Distributors Private Limited (TDPL) via a Scheme of Amalgamation approved on February 23, 2026, effective March 24, 2026, exempt under Regulation 10(1)(d)(iii) of SEBI Takeover Regulations. VMIPL's shareholding increased from 14528420 shares (15.77%) to 24429460 shares (26.52%), while VDPL and TDPL's holdings went to zero (previously 7161000 shares at 7.78% and 2740040 shares at 2.98%, respectively), resulting in no net change to aggregate promoter group stake.

  • ·Approval order: RD/WR/Sec.233/Vividhmargi/AC0118511/2025/7877 dated February 23, 2026
  • ·Disclosure filed on March 27, 2026 under Regulation 10(6)
  • ·NSE Symbol: THEMISMED; BSE Scrip Code: 530199
IndusInd Bank LimitedMerger/Acquisitionneutralmateriality 8/10

28-03-2026

Catalyst Trusteeship Limited, acting as security trustee for lenders, disclosed the release of 5,97,63,552 equity shares (7.67%) of IndusInd Bank Limited previously held under encumbrance (pledge). This transaction reduces the encumbered shareholding from 5,97,63,552 shares (7.67%) to nil as of 27 March 2026. The total paid-up equity share capital of IndusInd Bank Limited remains unchanged at 77,90,75,972 shares of INR 1 each.

  • ·Disclosure filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
  • ·Pledgors: IndusInd Ltd and IndusInd International Holdings Ltd (both located in Ebene, Republic of Mauritius).
  • ·Equity shareholding pattern reference: quarter ended 30 September 2025.
Infibeam Avenues LimitedMerger/Acquisitionneutralmateriality 3/10

28-03-2026

AvenuesAI Ltd (BSE: 539807) has filed a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, received by the Exchange for Varini Patel & PACs. This indicates an intention to acquire shares that could cross substantial acquisition thresholds. No details on deal size, share count, percentage, valuation, or transaction structure were disclosed.

PARLE INDUSTRIES LIMITEDMerger/Acquisitionneutralmateriality 7/10

28-03-2026

Brillant Properties Pvt. Ltd. disclosed the sale of 21,36,546 (4.38%) equity shares of Parle Industries Limited via open market on BSE from March 14 to 25, 2026, reducing its stake from 63,03,000 shares (12.92%) to 41,66,454 shares (8.54%) as of March 26, 2026. The total equity share capital of Parle Industries remains unchanged at 4,88,00,000 shares of ₹10 each, aggregating to ₹48,80,00,000. No changes in encumbrances, voting rights otherwise than by shares, or convertible securities.

  • ·Disclosure filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • ·Sale period: 14.03.2026 to 25.03.2026
  • ·BSE Scrip Code: 532911
  • ·Brillant Properties not part of Promoter/Promoter group (N.A.)
  • ·No shares encumbered, no additional voting rights or convertible instruments
Sterling Powergensys LimitedMerger/Acquisitionneutralmateriality 4/10

28-03-2026

Sterling Powergensys Ltd (BSE: 513575) has made a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, pertaining to Pradeep Sanghvi. This filing indicates a substantial acquisition or disposal of shares by Pradeep Sanghvi, triggering mandatory disclosure requirements. No specific details on transaction value, share count, percentage changes, or shareholding patterns are provided in the filing.

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India Technology Sector Merger & Acquisition Filings — March 28, 2026 | Gunpowder Blog