India Sector Consolidation Regulatory Filings — October 28, 2026

28-10-2026

Hero MotoCorp's Board approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, and an additional investment of up to INR 300 Crore in its wholly owned Dutch subsidiary HMCL Netherlands B.V. (HNBV), to be deployed over two years in one or more tranches to fund its subsidiaries HMCL Colombia S.A.S. and Hero MotoCorp Do Brasil Ltda. The investment is a related-party transaction on an arm's length basis, and the parent's shareholding in HNBV is unchanged. Subsidiary performance is mixed: HMCL Colombia's turnover rose sharply to Rs. 1,656 crore in FY26 from Rs. 672 crore in FY25, and HMCL Niloy Bangladesh grew to Rs. 826 crore from Rs. 562 crore, while HNBV itself reported nil turnover in FY26 after Rs. 3.80 crore in FY25, and Hero MotoCorp Do Brasil has yet to commence business.

• · Board meeting ran from 2:30 p.m. to 5:30 p.m. on October 28, 2026
• · No governmental or regulatory approvals are required for the investment
• · No promoter or promoter group company has any interest in HNBV
• · Hero MotoCorp Do Brasil Ltda has yet to commence business
• · Consideration is entirely cash, or an equivalent amount in foreign currency

28-10-2026

Info Edge (India) Limited's board approved the divestment of its entire stakes in Medcords Healthcare Solutions Private Limited (14.18%) and Unnati Online Private Limited (31.64%) via its wholly-owned subsidiary Startup Investments (Holding) Limited, with each sale expected to bring in about Rs. 5000 (units not specified in the filing) and completion targeted by January 27, 2027. The board also approved an investment of about Rs. 150 crore in its wholly-owned subsidiary Redstart Labs (India) Limited and reconstituted the Audit Committee by inducting Mr. Naresh Chand Gupta effective October 29, 2026. Both divested investments had already been fully impaired (FY 2023-24 for Medcords and FY 2019-20 for Unnati Online), and Redstart reported nil turnover and a loss (PAT) of Rs. (2.99) crore for FY 2025-26, so the divestments carry no reported contribution to FY 2025-26 financials.

• · Medcords and Unnati Online buyers are their own promoters/directors, and the transactions are stated as not related party transactions
• · Agreements for both sales to be entered into within 30 days of board approval
• · Redstart investment to be completed within 18 months, in one or more tranches, as cash consideration for equity shares of Rs. 10 face value
• · Redstart reported nil turnover for FY 2023-24, FY 2024-25 and FY 2025-26

28-10-2026

Indo National Limited invested Rs. 25,01,968 by subscribing to equity shares of Medcuore Medical Solutions Private Ltd (MMSPL), acquiring 178 shares for an additional 0.39% stake and lifting its total holding to 63.46%. The price per share is Rs. 14,056 based on an August 21, 2026 registered valuer report, with the transaction described as not a related party transaction and expected to be completed by FY 2027-28. MMSPL's reported turnover is Rs. 1,45,60,000 in FY26, up from Rs. 35,41,484 in FY25, but below the Rs. 47,68,000 recorded in FY24.

• · Following the acquisition, the Company's aggregate shareholding in MMSPL stands at 63.46%, making MMSPL a majority-owned subsidiary.
• · MMSPL was incorporated on 07/06/2020 and operates in India, manufacturing, distributing and servicing Air Monitoring Systems and Air Purifiers.
• · No governmental or regulatory approvals are required for the acquisition, and none of the promoter or promoter group companies have any interest in MMSPL.
• · The acquisition is an expansion of the Company's business outside its main line of business, undertaken to drive growth and generate revenue and profit.

28-10-2026

KPIT Technologies' board, meeting on October 28, 2026, approved unaudited consolidated and standalone results for the quarter and half year ended September 30, 2026 (with an unqualified limited review opinion), appointed Chairman Anant Talaulicar as an independent director of its material unlisted US subsidiary KPIT Technologies Inc., approved incorporation of a USD 2 million wholly owned subsidiary in Vietnam, approved the strike-off of dormant step-down UK subsidiary Samit Solutions Limited (net worth GBP 523,996 as of December 31, 2025, with no operational or financial reporting impact), and approved a Letter of Comfort supporting an increase in KPIT UK's factoring facility from GBP 6 million to GBP 12 million with BNP Paribas Commercial Finance Limited, without any guarantee or financial obligation on the company.

• · Anant Talaulicar (DIN: 00031051) appointed to KPIT US board effective October 28, 2026 under Regulation 24(1); he is not related to any director of the company or KPIT US
• · Samit UK's operations, employees and customer contracts were already fully integrated into KPIT UK, with the strike-off completed per UK statutory timelines
• · The Letter of Comfort is not a loan, guarantee or indemnity and carries no financial obligation for the company; it affirms KPIT India's maintenance of at least 51% beneficial ownership of KPIT UK while factoring obligations remain outstanding
• · No promoter, promoter group or group company has any interest in the factoring facility transaction
• · Results were reviewed by statutory auditors with an unqualified opinion, and an Investor Update was sent separately

28-10-2026

Titan Company Limited has incorporated a wholly owned subsidiary in Canada, Titan Company Canada Inc., on 27 October 2026, with share capital of up to CAD 5,000 to be subscribed in cash. The subsidiary is intended to carry on jewellery retailing and other lifestyle businesses, and no turnover, approvals, or completion timeline apply since it is newly incorporated.

• · Filing is a Regulation 30 intimation, in continuation of the company's letter dated 7 August 2026, regarding the Canadian subsidiary.
• · The filing is an incorporation of a new subsidiary, not an acquisition of an existing entity; the acquisition-related disclosure fields are marked not applicable.
• · Titan Company Canada Inc. is newly incorporated, so no turnover or three-year history is available.
• · No governmental or regulatory approvals are noted as required, and no indicative completion period applies.

28-10-2026

Prudent Corporate Advisory Services Limited's Board, at its October 28, 2026 meeting, approved unaudited standalone and consolidated results for Q2 and H1 FY27 (quarter and six months ended September 30, 2026), an ESOP allotment of 1,190 shares at ₹2,632 each, and an investment of up to ₹6,53,40,000 (Rs. 653.40 Lakh) in its wholly owned subsidiary Prutech Financial Services Private Limited via a rights issue, to fund a move into portfolio management services. Standalone revenue from operations for the quarter was ₹37,792.81 Lakh versus ₹30,124.19 Lakh a year earlier (up ~25.5%), but profit after tax for the quarter was ₹6,977.42 Lakh versus ₹6,859.75 Lakh in the sequential June 2026 quarter, and the six-month PAT of ₹13,837.17 Lakh is up from ₹10,021.38 Lakh... see note below.

• · Standalone total income for the quarter was ₹38,249.96 Lakh; total expenses rose to ₹28,899.48 Lakh, with other expenses up 48.5% for the half year.
• · Employee benefit expenses rose ~30.7% for H1 FY27 versus H1 FY26, outpacing revenue growth of ~10%.
• · Prutech's turnover grew from Rs. 54.88 Lakh (FY24) to Rs. 98.09 Lakh (FY25) to Rs. 154.51 Lakh (FY26), and the investment is intended to meet SEBI Portfolio Manager net worth requirements.
• · Standalone auditor Deloitte issued a limited review report with no material misstatement identified; no governmental or regulatory approvals were flagged for the Prutech investment.
• · Consolidated results and the Statement of Assets and Liabilities/Cash Flow Statement were enclosed but the consolidated figures are not reproduced in the provided extract.

28-10-2026

Meesho Limited's Board, meeting on October 28, 2026, approved the unaudited standalone and consolidated financial results for the quarter and six months ended September 30, 2026, appointed Mr. Sudhir Ganesh Sitapati as a Non-Executive Independent Director (term October 28, 2026 to October 27, 2031, subject to shareholder approval), and reconstituted three Board committees to include him. The Board also approved an additional investment of up to USD 100,000 in common units of its wholly owned subsidiary Meesho Networks LLC, which is set up to commercialise artificial intelligence technologies and has reported nil turnover and a USD 100 net loss as of March 31, 2026. The filing does not disclose the financial results figures themselves, so no revenue or profit comparison can be assessed from this document.

• · Mr. Sitapati previously served as MD and CEO of Godrej Consumer Products Limited (October 2021 to August 2026) and spent over two decades at Hindustan Unilever Limited, including as Executive Director, Foods and Refreshments
• · Meesho Networks LLC was incorporated on April 21, 2025 in Delaware, USA; the investment is classified as a related party transaction at arm's length
• · The number of units, price per unit, and number of common units to be acquired will be intimated later; the Company will make FEMA filings but no prior government or regulatory approval is required
• · The Company's 100% holding in Meesho Networks LLC will remain unchanged post-investment
• · The financial results were reviewed (limited review, not audited) by statutory auditor S.R. Batliboi & Associates LLP, which reported nothing to suggest material misstatement

28-10-2026

The Phoenix Mills Limited disclosed that the NCLT Mumbai Bench approved, by order dated October 27, 2026, the selective reduction of equity share capital of Island Star Mall Developers Private Limited (ISMDPL), a material subsidiary, through cancellation of 3,25,69,360 equity shares held by CPP Investments for cash consideration of ₹1350 Crore. Post-completion, the Company's stake in ISMDPL rises from 58.33% to 68.10% (CPP Investments falls from 41.67% to 31.90%), with full exit targeted within 30 days of filing the certified NCLT order with the RoC, though the certified copy of the order is still awaited.

• · The NCLT approval order is dated October 27, 2026, but the certified copy is still awaited; ISMDPL must then file with the RoC within prescribed timelines.
• · Consideration is payable in cash within 30 days of filing the certified NCLT order with the RoC.
• · The transaction is a related party transaction under Section 2(76) of the Companies Act, 2013 and Regulations 2(1)(zc) and 23 of SEBI Listing Regulations; Audit Committee, Board and shareholder approvals have been obtained, and a valuation report was obtained from Bansi S. Mehta Valuers LLP.
• · Promoter/promoter group reportedly have no interest in the shares being acquired.
• · Upon completion, ISMDPL becomes a wholly owned subsidiary of the Company.
• · ISMDPL operates Phoenix MarketCity Bengaluru and, via subsidiaries, Phoenix Mall of Millennium/Millennium Towers (Pune), Phoenix Mall of Asia/Phoenix Asia Towers (Bengaluru) and Phoenix Citadel (Indore).
• · Earlier steps: Tranche 1 (Nov 14, 2025) took the Company's stake from 55.57% to 58.33% after ISMDPL's buyback and acquisition of 62,66,737 shares from CPP Investments.

28-10-2026

Ashish Begwani, a promoter-group acquirer, disclosed under SEBI Takeover Regulation 29(1) that he acquired 40,12,335 fully paid-up equity shares of Kkalpana Plastick Limited on October 27, 2026 via an off-market transaction under a Share Purchase Agreement dated July 7, 2026, taking his post-acquisition holding to 40,12,685 shares (72.58%). The acquisition followed a public announcement for an Open Offer made on July 7, 2026, and an additional 350 shares were acquired on September 21, 2026 through shares tendered by public shareholders in the Open Offer.

• · Acquirer is classified as belonging to the Promoter/Promoter group (Part-A) yet Part-B marks the acquirer as 'No' for Promoter/Promoter group membership, an internal inconsistency in the filing
• · Acquisition was off-market, executed under a Share Purchase Agreement dated July 7, 2026, and was date-linked to a public Open Offer announced the same day
• · Scrip codes: BSE 523652 and Calcutta Stock Exchange 029050
• · Acquirer PAN is AAGPB6672F; no persons acting in concert are disclosed

28-10-2026

Aeroflex Industries Limited's Board approved unaudited consolidated and standalone results for the quarter and half year ended September 30, 2026, reporting Q2 FY27 consolidated revenue from operations of ₹20,716.29 lakh versus ₹14,517.63 lakh in the prior-year quarter, with profit after tax of ₹3,655.92 lakh. Separately, the Board in-principally approved amalgamation of its wholly owned subsidiary Hyd-Air Engineering Private Limited into the Company (appointed date April 1, 2026), subject to regulatory approvals, and announced a CFO transition from Mustafa Abid Kachwala to Drashti Bhil effective November 28, 2026.

• · Consolidated basic and diluted EPS for Q2 FY27 is ₹2.76 versus ₹1.10 in Q2 FY26 (per the consolidated table; the standalone table reports ₹2.76 versus ₹1.06).
• · Consolidated cost of materials consumed rose 74.2% YoY, growing faster than revenue (42.7%), which compresses input-cost margins.
• · Consolidated bank balances other than cash equivalents fell ~92.8% from ₹5,066.14 lakh (Mar 31, 2026) to ₹366.12 lakh (Sep 30, 2026), while trade receivables rose to ₹20,383.42 lakh from ₹12,981.61 lakh.
• · The Company changed its depreciation method from written-down value to straight-line method for PPE; the change is applied prospectively, and continuing WDV would have reduced PBT by ₹841.25 lakh and PAT by ₹823.48 lakh in Q2 FY27 (₹841.25 lakh and ₹823.48 lakh for H1 FY27 respectively, per the source).
• · Quarterly results are unmodified-opinion limited reviews by statutory auditors; no exceptional items were reported for the quarter.
• · Hyd-Air amalgamation remains subject to regulatory approvals and Scheme finalisation; Regulation 30 disclosures will follow once the Scheme is approved.
• · Segment reporting is not applicable as the Company operates in a single segment (manufacturing of products).

28-10-2026

Brace Port Logistics Limited, a material subsidiary of Skyways Air Services Limited, intimated on October 28, 2026 that it will acquire 76% (7,600 equity shares) of Sageroute Logistics Private Limited under a Share Purchase Agreement dated October 28, 2026, for an aggregate consideration not exceeding ₹76,000 (Rupees Seventy-Six Thousand only), with a further capital infusion of ₹75,24,000. The target was incorporated on July 28, 2026, has no historical turnover, and is expected to become a step-down subsidiary upon completion within an indicative 30 days.

• · Target company incorporated July 28, 2026 with no historical turnover and no operational presence outside India
• · Acquisition is not a related-party transaction; promoters and group companies have no interest in the target
• · No specific governmental or regulatory approval identified as required, subject to confirmation
• · Stated rationale: expand business operations, explore new opportunities, create synergies, strengthen business presence

28-10-2026

Honasa Consumer Limited disclosed that its wholly-owned subsidiary Bhabani Blunt Hair Dressing Private Limited (BBlunt) and step-down wholly-owned subsidiary B:Blunt-Spratt Hairdressing Private Limited have approved a Scheme of Amalgamation under Section 233 of the Companies Act, 2013, merging B:Blunt-Spratt into BBlunt. The transaction is an internal group restructuring with no share issuance, no change in shareholding pattern, and is subject to statutory approvals including confirmation by the Central Government via the Regional Director. Turnover as of March 31, 2026 was INR 2,439.49 Lakh for the transferee and INR 2,875.64 Lakh for the transferor.

• · Transaction is classified as a related party transaction but is exempt under Regulation 23 of the SEBI Listing Regulations as it is between wholly-owned and step-down wholly-owned subsidiaries
• · Rationale cited: organisational simplification, streamlining group structure, operational efficiencies, and reduced administrative and compliance costs
• · Scheme is conditional on confirmation by the Central Government through the jurisdictional Regional Director under the Companies Act, 2013
• · Board approval communicated to Honasa on October 28, 2026 at 4:26 p.m. IST

28-10-2026

Fortis Healthcare Limited, through its wholly-owned subsidiary International Hospital Limited (IHL), acquired the business and operations of Suguna Hospital (110 operational beds, expandable to ~150) in Rajajinagar, Bengaluru, along with the underlying land and building, for a cumulative consideration of approx. INR 277 Crore in an all-cash slump sale, with the transaction consummated on October 28, 2026. The acquisition strengthens Fortis's cluster-focused inorganic growth strategy in Bengaluru, taking its operational bed count in the city to ~1000, though the hospital's revenue was essentially flat over FY24-FY26 (INR 49.04 Cr, INR 49.90 Cr, INR 49.80 Cr).

• · Suguna Hospital land and building was acquired from Dr. Ramaiah Ravindra, a promoter of Suguna, via a sale deed, while the business was acquired from Suguna Ramaiah Hospitals Private Limited via a business transfer agreement.
• · Suguna shareholding: Dr. Ramaiah Ravindra 80.91%, Mrs. Suguna Ramaiah 14.55%, Mrs. Sujatha Ravindra 4.54%.
• · The transaction is not a related party transaction per the filing, and no governmental or regulatory approvals were required.
• · The hospital was commissioned in 2006 on approximately 1 acre of land.
• · Fortis's network in North-West Bengaluru now totals approx. 500 potential beds across Rajajinagar, People Tree (Yeshwanthpur), and Suguna Hospital, following the January 2026 People Tree acquisition.
• · Fortis operates 37 healthcare facilities across 12 states with over 6,300 operational beds and ~400 diagnostics labs.

28-10-2026

eClerx Services Limited's Board approved the acquisition of an approximately 2% equity stake in Personiv Eclipse Inc., USA, a step-down subsidiary, from its wholly owned subsidiary eClerx LLC for a consideration of US$ 1,639,121.40, to be completed within about one month. The transaction is an intra-group transfer with no change in aggregate ownership, and its stated purpose is to provide funds to eClerx LLC to meet working capital requirements. The target's turnover fell sharply over the period, from Rs. 1,218.33 million in FY2024 to Rs. 571.96 million in FY2025 and Rs. 186.83 million in FY2026, while profit after tax declined from Rs. 106.20 million to Rs. 66.21 million and then Rs. 62.37 million.

• · The transaction is an intra-group related party transaction exempt under Regulation 23(5)(b) of the Listing Regulations, priced on an arm's length basis
• · Target entity was acquired by eClerx Services Limited in December 2020 and was formerly known as Personiv Contact Centres LLC
• · Target operates in the IT and IT-enabled services industry, with a presence in the USA
• · No governmental or regulatory approvals are required for the acquisition
• · Target's profit after tax declined far less steeply in FY2026 (-5.8%) than its turnover (-67.3%), indicating a margin shift that warrants attention
• · Currency conversions used rates of Rs. 88.37 (FY26), Rs. 84.56 (FY25) and Rs. 82.78 (FY24) per USD

28-10-2026

Emkay Global Financial Services Limited's Board approved, on 28 October 2026, the transfer of its 100% stakes in Emkay Investment Managers Limited (EIML) and Emkay Wealth Advisory Limited (EWAL) to newly incorporated wholly owned subsidiary Emkay Capital Private Limited (ECPL) for cash consideration of Rs. 21.375 Crore and Rs. 2.05 Crore respectively. It also approved a slump sale of the Wealth Management Business to EWAL for Rs. 2.75 Crore, and an investment of up to Rs. 30 Crore in ECPL's rights issue. The transactions are related party transactions proposed to be completed within 90 days, and the Wealth Management Business contributed Rs. 24.2366 Crore (approximately 6.12%) of consolidated income in FY2026, so the disposal is a material restructuring with modest direct consideration relative to the group.

• · Share Purchase Agreements and the Business Transfer Agreement are expected to be executed on or before 4 November 2026, with completion targeted within 90 days subject to regulatory approvals.
• · EIML transfer covers 90,00,000 equity shares; EWAL transfer covers 41,00,000 equity shares.
• · EIML contributed 7.25% of consolidated income and 5.67% of consolidated net worth; EWAL contributed only 0.09% of income and 0.32% of net worth.
• · The slump sale is excluded from Regulation 37A of LODR as the Wealth Management Business does not meet the threshold under section 180(1)(a) of the Companies Act, 2013.
• · The transactions are treated as related party transactions, stated to be at arm's length.

28-10-2026

Oswal Greentech Limited has announced that the Dubai Department of Economic and Tourism has approved incorporation of its wholly-owned-majority subsidiary, OSWAL GREENTECH REAL ESTATE DEVELOPMENT L.L.C, in Dubai, UAE. The Company will hold 95% (38,000 shares) of the entity, with promoter group member Mr. Shael Oswal holding the remaining 5% (2,000 shares) and acting as Manager. The initial subscription totals AED 38 million (AED 3,80,00,000), paid through the banking channel, and the subsidiary has not yet commenced operations.

• · Subsidiary is a related party of the Company following incorporation
• · Transaction is categorised as related party; the filing states no other interest beyond the promoter's stake
• · Regulatory approvals and indicative completion timeline are marked not applicable
• · This follows an earlier intimation dated June 22, 2026 on the Board Meeting outcome approving the Dubai subsidiary

28-10-2026

TVS Motor Company's Board, at its meeting on 28 October 2026, approved the acquisition of 100% of Harita ARC Limited (TVSM WOS) from TVS Credit Services Limited for Rs. 25,000 in cash, and a Composite Scheme of Arrangement involving the amalgamation of its wholly owned subsidiary TVS Motor Services Limited and the demerger of its consumer finance and related business (turnover Rs. 3,921 Crore for the period ended 30 September 2026, against total turnover of Rs. 35,770 Crore) into the Resulting Company. The Scheme is subject to approvals from stock exchanges, SEBI, the NCLT and shareholders/creditors, and the Resulting Company's equity shares will be listed. The demerged business represents roughly 11% of total turnover, while the Resulting Company (TVSM WOS) has not yet commenced operations and has nil turnover.

• · Share entitlement ratio is 1:1, with the Resulting Company issuing 47,50,87,114 equity shares of Re. 1 face value to TVS Motor shareholders
• · Post-Scheme, promoter holding in the Resulting Company is 50.27% and public holding 49.71%, mirroring TVS Motor's shareholding pattern
• · The share entitlement ratio is based on a valuation report dated 28 October 2026 by Bansi S. Mehta Valuers LLP, with a fairness opinion from JM Financial Limited
• · The acquisition is a related party transaction conducted on an arm's length basis with no governmental or regulatory approvals required
• · Harita ARC Limited was incorporated on 25 August 2017 and has not yet commenced business operations; its turnover is nil
• · The amalgamation of TVS Motor Services Limited involves no consideration, as it is a wholly owned subsidiary; under MCA Circular 30/2014 it does not attract Section 188 requirements
• · TVS Motor Services Limited will be dissolved without winding up upon the Scheme taking effect
• · The rationale includes allowing the consumer finance business a separate strategy, higher leverage, and access to different investors and lenders

28-10-2026

Kiri Industries Limited disclosed that on 26 October 2026 the Philippine Bureau of Internal Revenue released eCAR No. eCP201300326723, completing the transfer of 20,000,000 shares (40% of issued share capital) of Makilala Mining Company, Inc. (MMCI) to Equinaire Holdings Limited (EHL), a wholly owned subsidiary of Kiri Industries. The share transfer, linked to a public auction previously disclosed on 9 September 2026, has been recorded in MMCI's Stock and Transfer Book and EHL is now the registered holder.

• · eCAR No. eCP201300326723 was issued by the Philippine Bureau of Internal Revenue on 26 October 2026
• · Transfer was recorded in MMCI's Stock and Transfer Book and a stock certificate was issued in EHL's name
• · Filing is a follow-up to the 9 September 2026 disclosure under Regulation 30 of SEBI Listing Regulations