India Merger Acquisition MCA Regulatory Filings — October 16, 2026

16-10-2026

Adroit Infotech Limited has entered into a non-binding agreement to acquire a majority equity stake in Verso Altima Group d.o.o., a business integrator and digital solutions provider headquartered in Zagreb, Croatia, with standalone revenue of approximately 13 million Euros. Post-completion, the combined consolidated revenue is projected at an estimated $23-25 Million USD (approximately Rs. 225-250 Crores), and the deal is to be funded without third-party debt through internal accruals, preferential issue and rights issue proceeds. The transaction remains subject to definitive SPA execution, due diligence, board authorizations and regulatory approvals in India and Croatia.

• · Verso Altima India Limited is CMMI Level 3 certified and a SAP PartnerEdge – Sell partner, based in Navi Mumbai
• · The transaction is structured as a cash consideration; the cost of acquisition is yet to be finalized in the definitive SPA
• · The transaction is stated not to be a related party transaction and promoters have no interest in it
• · Discrepancies exist across the filing: the INR revenue projection is Rs. 225-250 Crores in the Regulation 30 letter but Rs. 200-250 Crores in the press release, and combined headcount is 400+ in the press release but 100+ in Annexure-B
• · The agreement is non-binding and no acquisition cost, completion timeline, or definitive SPA has been disclosed yet

16-10-2026

SG Finserve Limited's Board, in a meeting on October 16, 2026, approved unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026, and resolved to acquire a 24.5% stake in SG Enterprise Solutions Private Limited from a related party (SG Green Buildings Private Limited) for ₹1,22,500, and a 15.5% stake in Succesship Technologies Private Limited for ₹4,65,00,000 (₹4.65 Crore). It also approved up to USD 5 million (approximately ₹48 crore) to set up a GIFT City finance company as a wholly owned subsidiary, subject to regulatory approvals, and appointed Mr. Alok Bhushan as Internal Auditor effective October 17, 2026, following the stepping down of Mr. Saurabh Mishra as Head – Internal Audit. The filing contains no period-over-period financial figures, so the performance of the quarter cannot be assessed from this disclosure.

• · SG Enterprise Solutions Private Limited was incorporated September 10, 2026, so no turnover history is available; the acquisition is from a related party and is expected to complete by December 31, 2026
• · Succesship Technologies Private Limited was incorporated August 30, 2024, is in the IT Services industry, and is expected to complete acquisition by March 31, 2027
• · The Succesship acquisition is stated not to be a related party transaction
• · The GIFT City subsidiary investment is subject to regulatory and statutory approvals, with powers delegated to the Finance Committee
• · Alok Bhushan has over 32 years of banking experience, including at State Bank of India (retired August 2025) and Bank of Baroda, and is not related to any director or KMP

16-10-2026

Shadowfax Technologies Ltd's Board approved the incorporation of a new wholly owned subsidiary (subject to Ministry of Corporate Affairs approval, with the parent subscribing to 100% of its initial paid-up capital at par) and the allotment of 49,098 equity shares of Rs. 10 each to employees/ESOP holders who exercised options under the SFX ESOP 2016 scheme, for total exercise proceeds of Rs. 4,90,980. Post-allotment, the equity share capital rises from Rs. 5,86,94,29,900 (58,69,42,990 shares) to Rs. 5,86,99,20,880 (58,69,92,088 shares). The filing is a routine Regulation 30 disclosure with no material change in control or business direction.

• · Proposed WOS to be named with suffix 'SHADOWFAX'; incorporation pending MCA approval
• · Diluted EPS of Rs. 2.18 and basic EPS of Rs. 2.22 (consolidated, FY ended March 31, 2026)
• · ESOP shares rank pari passu with existing equity shares

16-10-2026

Armee Infotech Limited has incorporated a wholly owned subsidiary, ARMEE MH BESS RENEWABLE ENERGY PRIVATE LIMITED, with a paid-up capital of Rs. 10,00,000 (1,00,000 equity shares of Rs. 10 each), subscribed 100% in cash. The subsidiary will act as a special purpose vehicle for solar photovoltaic power projects, evacuation infrastructure, and EPC activities, and the incorporation was approved by the Board on September 28, 2026. This is a small, early-stage structural step with no disclosed revenue, deal value, or financial impact on the parent.

• · Certificate of Incorporation issued by the Ministry of Corporate Affairs on October 16, 2026, received by the Company at 10:23 AM IST
• · The subsidiary's CIN is U35105GJ2026PTC185164, indicating Gujarat registration
• · The subsidiary will sell electricity to State Electricity Boards, distribution licensees, government bodies, power exchanges, and other consumers, including under long-term Power Purchase Agreements
• · No governmental or regulatory approvals were disclosed as required for the incorporation

16-10-2026

Varroc Engineering's Board approved an investment in Forsee Power India Private Limited, a battery pack and battery management systems maker for electric mobility, to acquire a 45% equity stake and subscribe to OCRPS I and OCRPS II, with aggregate initial consideration capped at €4.5 Million. Completion is subject to conditions precedent under the SSPA and is expected on or before December 31, 2026, with the transaction not involving any related parties.

• · Forsee turnover declined about 34% in FY2025 versus FY2024 before recovering sharply in FY2026 (unaudited)
• · Forsee was incorporated on July 6, 2020 and its operations are in India
• · Transaction is not a related party transaction and no promoter or group company has any interest in Forsee
• · No governmental or regulatory approvals are required for the acquisition
• · Consideration is entirely cash

16-10-2026

Tilak Ventures Limited has intimated BSE that its Board of Directors will meet on Tuesday, October 27, 2026 to consider and approve a proposed Scheme of Arrangement under Sections 230 to 232 of the Companies Act, 2013, subject to regulatory and statutory approvals. The board will also consider matters incidental and consequential to the scheme. The filing is an advance notice of a board meeting and does not disclose the scheme's terms, counterparties, or financial impact.

• · Board meeting date: Tuesday, October 27, 2026
• · Filed under SEBI (LODR) Regulation 29; BSE security code 503663, scrip ID TILAK
• · Scheme terms, parties involved, and valuation are not disclosed in this filing

16-10-2026

Bharat Forge Limited has invested Rs. 2,400 million in equity shares of its wholly owned subsidiary Kalyani Strategic Systems Limited (KSSL) by way of rights issue, funded from Qualified Institutional Placement proceeds and internal accruals, with allotment to be completed on or before October 31, 2026. KSSL will further invest up to Rs. 1,630 million in Agneyastra Energetics Limited (AEL), a step-down wholly owned subsidiary engaged in defence energetics, in tranches to be completed by September 30, 2027. AEL reported nil turnover for FY 2025-26, and the transaction is a related party transaction conducted on an arm's length basis.

• · Transaction is classified as a related party transaction and conducted on an arm's length basis
• · No promoter or promoter group interest in the proposed investments
• · No governmental or regulatory approvals required
• · KSSL retains 100% ownership of AEL post-investment
• · AEL was incorporated on July 2, 2025; turnover history for FY 2024-25 and FY 2023-24 is not available (NA)
• · Funding sourced from Qualified Institutional Placement proceeds and internal accruals
• · Investment in AEL is to operationalize the company and set up a state-of-the-art ammunition pour filling facility

16-10-2026

Oberoi Realty Limited's Board approved on October 16, 2026 the incorporation of a wholly owned subsidiary (WOS) with an initial paid-up and subscribed share capital of Rs. 1 Lakh, to undertake real estate projects to be identified from time to time. The incorporation is subject to approval from the Ministry of Corporate Affairs, and the company will hold 100% shareholding and control. This is a corporate structuring disclosure rather than an acquisition of an existing business.

• · The subsidiary's name has not yet been finalized and is pending incorporation by the Ministry of Corporate Affairs
• · The subsidiary's industry is real estate construction and development
• · Consideration is cash, with the parent subscribing to the entire initial share capital at par value

16-10-2026

Heritage Foods Limited has completed the acquisition of an additional 5.60% equity stake in Heritage Novandie Foods Limited (HNFL), raising its shareholding from 94.40% to 100%. HNFL has become a wholly owned subsidiary effective October 16, 2026, the date the shares were credited to the company's demat account. The filing follows prior intimations dated July 16, 2026, August 29, 2026 and October 10, 2026 on the same transaction.

• · HNFL is registered at Jubilee Hills, Hyderabad, Telangana, with CIN U74999TG2017PLC120860
• · Heritage Foods' BSE scrip code is 519552 and NSE symbol is HERITGFOOD
• · The transaction was disclosed in three prior intimations: July 16, 2026, August 29, 2026 and October 10, 2026

16-10-2026

63 moons technologies limited disclosed that its subsidiary Ticker Limited incorporated a wholly owned subsidiary, 63 Digital Asset Technologies Private Limited, in Mumbai on 16 October 2026, making it a step-down subsidiary of the company. The new entity will operate in IT/ITeS, focused on computer software, applications and technology solutions in emerging technologies. Ticker Limited will subscribe to 15,00,000 equity shares of Rs. 1 each, representing 100% of paid-up capital, in cash.

• · Incorporation approved by the Ministry of Corporate Affairs on 16 October 2026
• · Consideration is cash-based; no share swap involved
• · Target sector is IT/ITeS, serving enterprises, financial institutions, governments, regulatory bodies and other customers in India and globally
• · Filed under SEBI (LODR) Regulations, 2015 read with SEBI Master Circular dated 30 January 2026

16-10-2026

Advent Hotels International Limited has completed the acquisition of the remaining 25% equity stake in BD&P Hotels (India) Private Limited on October 16, 2026, under the Share Purchase Agreement dated October 13, 2026. BD&P Hotels is now a wholly owned subsidiary of the Company. The filing is an update to the earlier October 13, 2026 Regulation 30 intimation, and the consideration is being paid or payable on timelines agreed in the SPA; no specific consideration amount is disclosed in this update.

• · Acquisition completed on October 16, 2026, three days after the Share Purchase Agreement dated October 13, 2026
• · Filing references SEBI Master Circular No. HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026
• · Company was formerly known as Shiva Realtors Suburban Private Limited
• · Consideration payment timing follows the SPA and may still be outstanding; amount not disclosed in this filing

16-10-2026

Jindal Stainless Limited disclosed that its wholly-owned subsidiary, Chromeni Steels Limited (CSL), acquired a 40% equity stake in Oyster Green Hybrid Four Private Limited, a special purpose vehicle formed with Oyster Renewable Energy Private Limited to develop a 24 MW wind-solar hybrid captive renewable energy project for CSL's plant. CSL has committed up to ₹12.50 crore toward commissioning, expected by Q1 FY2027-28, and has invested ₹1.25 crore in the present tranche upon milestone achievement. The transaction is with a related party due to common promoter group and is stated to be at arm's length; no regulatory approval is required.

• · Oyster Green was incorporated on March 5, 2025, with its registered office in Mumbai, India
• · Oyster Green is a subsidiary of Oyster Renewable Energy Private Limited, a related party due to common promoter group
• · Project is expected to generate approximately 70 million units annually for CSL's captive consumption
• · The project is under construction, so turnover data is not applicable
• · CSL's total commitment of up to ₹12.50 crore is staged, with ₹1.25 crore invested in the current tranche

16-10-2026

ASI Industries Limited disclosed under Regulation 30 that on 15 October 2026 it acquired 30,00,000 equity shares of PC Jeweller Limited (0.031% shareholding) through the stock exchange for a total cost of Rs.4.34 Crore, solely for investment purposes, without intent to acquire control. The target reported standalone turnover of Rs. 3352.88 Crore, PAT of 710.62 Crore and net worth of 8127.10 Crore for FY 2025-26, though its turnover trend shown is steep growth from Rs.189.45 Crore in FY 2023-24 and Rs.2243.25 Crore in FY 2024-25.

• · Acquisition was made for investment purposes; ASI Industries does not intend to acquire control of PC Jeweller's management
• · Transaction was executed at arm's length and is not a related party transaction; no promoter/promoter group interest in the target
• · Disclosure was delayed to 16 October 2026 because the event occurred at 3:30 PM on 15 October, outside normal working hours
• · No governmental or regulatory approvals required for the acquisition
• · Target's FY 2025-26 turnover growth figures cited in the filing are sharp and warrant verification against PC Jeweller's audited results