India Sector Consolidation Regulatory Filings — September 15, 2026

15-09-2026

Mobavenue AI Tech Limited (formerly Lucent Industries) announced a Scheme of Merger to merge its wholly owned material subsidiary, Mobavenue Media Private Limited (MMPL), into itself. The merger aims to create a unified corporate structure, improve operational efficiency, and provide unfettered access to cash flows. For FY 2025-26, the company reported consolidated revenue of ₹218.48 crore, EBITDA of ₹45.37 crore (20.8% margin), and profit after tax of ₹29.35 crore (13.4% margin). However, the company's own standalone turnover was only ₹1,868.13 lakh for the year ended March 2026, while MMPL's standalone turnover was ₹19,200.32 lakh, highlighting the subsidiary's dominant role.

• · The merger is a related-party transaction but exempt from Section 188 of the Companies Act and Regulation 23 of SEBI Listing Regulations because MMPL is a wholly owned material subsidiary.
• · No consideration or equity shares will be issued under the Scheme.
• · The company completed a stock split from ₹10 to ₹2 per share during FY 2025-26 to improve liquidity.
• · International markets contributed 11.5% of revenue, supported by UK operations launch.
• · The company's technology processes over 125 crore consented signals daily and supports real-time decisions in under 15 milliseconds.
• · The Board meeting started at 12:15 PM and concluded at 5:30 PM on September 15, 2026.

15-09-2026

K.M. Sugar Mills Limited has received the certified true copy of the NCLT Allahabad Bench order dated August 19, 2026, sanctioning the Scheme of Arrangement for the demerger of its Distillery Division into its wholly owned subsidiary, KM Spirits and Allied Industries Limited. The appointed date for the demerger is April 1, 2026, with the effective date and record date to be determined by the boards of both companies. The scheme was approved unanimously by equity shareholders (99.99% in favor) and unsecured creditors (100% in favor), though the Income Tax Department noted pending appellate proceedings against the demerged company and cautioned that the scheme must strictly satisfy demerger conditions under the Income Tax Act.

• · The Demerged Company (K.M. Sugar Mills) is listed on BSE and NSE, while the Resulting Company (KM Spirits and Allied Industries) is a wholly owned subsidiary of the Demerged Company.
• · The Income Tax Department reported that appellate proceedings under the Income-tax Act are pending against K.M. Sugar Mills Limited as of the date of its affidavit (July 30, 2026).
• · The NCLT directed paper publication of the hearing notice in 'Financial Express' (English) and 'Jan Satta' (Hindi) on July 7, 2026.
• · The Registrar of Companies confirmed that the company has filed its balance sheet and annual return up to FY ended March 31, 2025, and no prosecution is pending.
• · The scheme must satisfy conditions under Section 2(19AA) of the Income Tax Act for demerger tax benefits; failure could result in capital gains tax.

15-09-2026

Jupiter Wagons Limited incorporated a new wholly-owned subsidiary, Jupiter Rail Mobility Private Limited (JRMPL), incorporated on September 3, 2026, with Jupiter Wagons holding 99.9% of the shareholding. The subsidiary has an authorized share capital of ₹15,00,000 and paid-up capital of ₹1,00,000, with no turnover as operations have not yet commenced. The incorporation is a routine corporate structuring step and does not involve any acquisition consideration or regulatory approvals.

• · Date of incorporation of the subsidiary: September 3, 2026
• · Industry of the subsidiary: Railway and Engineering Industry
• · No turnover as operations have not yet commenced
• · No governmental or regulatory approvals required
• · No consideration involved as it is a fresh incorporation

15-09-2026

Thermax Limited informed the stock exchanges that its wholly owned subsidiary, Thermax Engineering Construction Company Limited (TECC), incorporated a new wholly owned step-down subsidiary, Thermax Botswana Proprietary Limited, in Botswana on September 14, 2026. The new entity will provide support services for boilers and power plants, with a planned capital infusion of BWP 10,000 in cash. No financial impact or performance metrics were disclosed in this routine incorporation intimation.

• · Incorporation date: September 14, 2026; communication received by Thermax on September 15, 2026 at 1:32 p.m. IST.
• · Registration Number of the new entity: BW00009907836.
• · Incorporation certificate issued by the Companies and Intellectual Property Authority (CIPA), Botswana.
• · Consideration is cash; no governmental or regulatory approvals required for the incorporation.

15-09-2026

Shilp Gravures Ltd. has invested ₹1,42,93,800 in its wholly owned subsidiary Etone India Private Limited through a rights issue, subscribing to 14,29,380 equity shares at ₹10 each. The investment aims to expand the company's business, and the subsidiary reported a turnover of ₹1269.60 lacs in FY2025-26, up from ₹1110.20 lacs in the prior year, though still below the ₹1154.19 lacs of FY2023-24.

• · The investment is classified as a related party transaction, done at arm's length.
• · No promoter/promoter group/group companies have any interest in the target entity.
• · The subsidiary was incorporated on 11th June 2002 and operates in India.
• · No governmental or regulatory approvals are required for the acquisition.
• · The consideration is in cash.

15-09-2026

Restaurant Brands Asia Limited (formerly Burger King India) has subscribed to 1,00,000 redeemable cumulative non-convertible preference shares of its Indonesian subsidiary, PT Sari Burger Indonesia, for an aggregate amount of IDR 100,000,000,000 (approximately ₹500 Crore). This investment, previously intimated on August 3, 2026, was completed on September 15, 2026, and represents a capital infusion into the subsidiary. No negative or flat performance metrics are present in this filing.

15-09-2026

Zodiac Energy Limited has incorporated a wholly owned subsidiary, ZODIAC ENERGY IPP-3 PRIVATE LIMITED, as a Special Purpose Vehicle (SPV) for solar power generation and EPC projects. The company has subscribed to 100% of the initial paid-up share capital of ₹1,00,000 (₹1 Lakh) comprising 10,000 equity shares of ₹10 each. The incorporation aligns with the company's business expansion strategy in the renewable energy sector.

• · The subsidiary was incorporated on September 14, 2026, with certificate of incorporation issued by the Registrar of Companies.
• · The subsidiary has a nominal share capital of ₹10,00,000 but currently has zero turnover as it is newly incorporated.
• · The subsidiary is classified as a Special Purpose Vehicle (SPV) to undertake solar power generation and EPC projects.
• · The subsidiary is wholly owned by Zodiac Energy Limited, with 100% shareholding and control.
• · No governmental or regulatory approvals are required for this incorporation, and no completion timeline is applicable for the acquisition.

15-09-2026

Sudarshan Pharma Industries Limited has provided an update on its proposed acquisition of a 9.50% equity stake in Med Therapy Biotechnology Inc., USA. The proposal is still under due diligence and pending confirmation from Med Therapy's Board of Directors. Additionally, the promoters, Mr. Hemal Mehta (Chairman & Managing Director) and Mr. Sachin Mehta (Joint Managing Director), are each proposing to acquire 1.50% equity shares of Med Therapy, also subject to due diligence and board confirmation. No definitive agreement has been reached, and the company has indicated it will provide further updates in due course.

• · The acquisition proposal is still under due diligence and pending confirmation from Med Therapy's Board of Directors.
• · The company has not yet received a Board of Directors resolution from Med Therapy.
• · The update is in continuation of the company's earlier letter dated 5th September 2026 (ref. no. SPIL/CS/SE/2026-2027/57).
• · The company has stated it will provide further updates at the earliest possible time.

15-09-2026

ACME Solar Holdings Limited has incorporated four wholly owned subsidiaries (ACME Greentech Twenty Five through Twenty Eight Private Limited) on September 15, 2026, each with a paid-up capital of ₹1,00,000 (10,000 equity shares of face value ₹10 each), subscribed 100% in cash. The subsidiaries are incorporated in India to undertake renewable energy power generation projects. This is a routine corporate structuring disclosure under Regulation 30 and does not involve any financial performance metrics.

• · All four subsidiaries were incorporated on September 15, 2026, in Gurugram, Haryana, India.
• · The subsidiaries are in the Power Generation (Renewable Energy) industry.
• · No governmental or regulatory approvals were required for the incorporation.
• · The consideration is 100% subscription to initial paid-up share capital in cash.

15-09-2026

Zim Laboratories Limited has completed a total investment of AED 9,16,000 (AED 4,66,000 + AED 4,50,000) in its step-down subsidiary ZIM Scientific Office LLC through its wholly owned subsidiary ZIM FZE. Post investment, ZIM FZE continues to hold 100% of the share capital of ZIM SO. This is a routine intimation of a previously disclosed capital infusion with no change in ownership structure.

15-09-2026

Purple Style Labs Ltd (PSLL) has approved an investment of INR 420 Crores in its wholly owned subsidiary, PSL Retail Private Ltd (PSLR), through a rights issue of 42 Crore equity shares at INR 10 each. The investment will be funded from the net proceeds of the company's recent IPO and will be used by PSLR to pay down lease liabilities for its experience centers and back-end offices in India, as well as for general corporate purposes. The transaction, which is a related-party deal due to promoter cross-directorships, is being conducted on an arm's length basis and will not change PSLL's 100% ownership of PSLR.

• · PSLR is a material subsidiary of Purple Style Labs Ltd.
• · The rights issue offer letter was issued on September 15, 2026, with completion expected between September 19 and September 25, 2026.
• · The transaction is a related-party transaction as the promoter, Abhishek Agarwal, also serves as a director on PSLR's board.
• · PSLR operates a luxury omni-channel fashion platform under the brand Pernia's Pop-Up Shop, covering womenswear, menswear, jewelry, accessories, and kidswear.
• · PSLR's revenue declined 1.9% from FY 2023-24 to FY 2024-25 before rebounding 14.4% in FY 2025-26.

15-09-2026

Solar Industries India Limited has informed the exchanges that an audio recording of the conference call regarding the proposed acquisition of Omnia Holdings Limited by its subsidiary Solar SA Investments Proprietary Limited is now available on the company's website. The conference call was hosted by ICICI Securities on September 15, 2026, to discuss the acquisition with analysts and investors.

• · The audio recording link is: https://solargroup.s.gy/audiorecording15092026
• · The conference call was held on September 15, 2026 at 10:30 a.m. IST.
• · The acquisition is proposed, not yet completed.

15-09-2026

GTPL Hathway Limited has completed the acquisition of the cable television business from seven companies belonging to the ACT Group for an aggregate cash consideration of Rs. 35.55 Crore (after necessary adjustments). The acquisition was previously disclosed on June 23, 2026, and has now been finalized. No financial performance metrics or period-over-period comparisons are provided in this filing.

• · The acquisition was previously disclosed on June 23, 2026.
• · The consideration is after necessary adjustments.
• · The filing is made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.