Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Receipt of Show Cause Notice from GST Authorities. Regulations, 2015 – Receipt of Show Cause Notice from GST Authorities. Has received a show cause notice from Excise & Taxation Officer of State Tax, Proper Officer, SGST.
Ganesh Benzoplast’s board approved the slump sale of its liquid storage tank undertaking at JNPT, Cochin and Goa, and the transfer of its Daund rail logistics business to Cisternina Logistics Private Limited. The aggregate consideration is ₹1,154 crore, subject to adjustments and milestones in definitive documents, with completion subject to shareholder and regulatory approvals.
Why it matters
CapitSignal interpretation
Selling a business converts an operating asset into cash; what the cash is then used for decides whether holders benefit.
443.9% of FY26 revenue
₹1,154 Cr stated in the filing against ₹259.96 Cr revenue (FY26, standalone)
Anupam Rasayan completed its SPA transaction and acquired a further 22,50,000 Bliss GVS Pharma shares through an on-market transaction on 28 September 2026. Together with its PAC, it now holds 5,32,36,264 shares, or 50.07% of Bliss’s equity capital, and has acquired control; both have been designated as Bliss promoters effective that date.
Why it matters
CapitSignal interpretation
An acquisition spends cash or issues shares today for earnings that arrive later, so the price paid and the funding route decide whether holders gain.
Prestige Estates Projects executed transaction documents with CPPIB and its wholly owned subsidiary Prestige Hospitality Ventures Limited for CPPIB to invest up to INR 30,00,00,00,000 through three tranches, representing an aggregate stake of approximately 27% in PHVL. Completion is subject to conditions precedent and necessary regulatory and lender approvals, including approval from the Competition Commission of India.
Why it matters
CapitSignal interpretation
A joint venture commits capital and management time to an asset the company only part-owns.
Watch next
Fact
Capital commitment and ownership split
Whether it is consolidated or equity-accounted
With a strong portfolio of developments planned across NCR in FY27, we are steadily building scale and depth i (management committed by FY27)
Urban Company Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Receipt of Show Cause Notice from G
Why it matters
CapitSignal interpretation
Regulatory action carries direct monetary penalties and can restrict how the business operates until it is resolved.
What happened
Fact
Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Receipt of Show Cause Notice from GST Authorities. Regulations, 2015 – Receipt of Show Cause Notice from GST Authorities. Has received a show cause notice from Excise & Taxation Officer of State Tax, Proper Officer, SGST.
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular dated January 30, 2026, details of the Order received from Directorate of La
Why it matters
CapitSignal interpretation
The order creates a quantified tax-related exposure for KEC’s Mali branch, although the company intends to contest it and says it does not foresee any material financial impact.
What happened
Fact
KEC International’s branch in Mali received a Directorate of Large Enterprise assessment order for January 2020 to December 2021. The order alleges that offshore supplies were taxed using an ad-hoc margin and rejects a Ministerial Decree exempting the project from taxes; KEC plans to pursue legal remedies and says the demand is incorrect.
FCFA 408 Mn (Rs. 6.79 crore)Penalty
Penalty imposed under the assessment order
FCFA 367 Mn (Rs. 6.10 crore)Tax amount
Tax amount stated in the assessment order
January 2020 to December 2021Assessment period
Period covered by the order
0.1664FCFA/INR exchange rate
Rate stated as of September 29, 2026
Watch next
Fact
KEC’s legal challenge and any further action by the Mali authorities
Whether the assessment order results in any payment or revised liability
Max Healthcare Institute Limited has informed the Exchange about disclosure under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Why it matters
CapitSignal interpretation
The litigation concerning Max Healthcare’s subsidiary remains unresolved, extending uncertainty around the petitions and their eventual outcome.
What happened
Fact
The NCLT, Cuttack Bench could not hear petitions filed by BRS Capital’s legal representatives concerning Kalinga Hospital Ltd., a Max Healthcare subsidiary, due to paucity of time. The matter has been adjourned from September 28, 2026 to October 29, 2026.
October 29, 2026Next hearing date
NCLT further hearing date
September 28, 2026Previous scheduled hearing
date on which matter could not be heard
Watch next
Fact
NCLT hearing scheduled for October 29, 2026
Any substantive order or further disclosure on the petitions involving Kalinga Hospital Ltd.
Juniper Green Energy Limited has informed the Exchange about commissioning of additional BESS capacity
Why it matters
CapitSignal interpretation
The commissioning expands the group’s operational energy-storage footprint and increases Juniper Green Cosmic’s commissioned BESS capacity to 201.28 MWh. The filing provides an operational-capacity update but does not disclose financial terms or revenue impact.
What happened
Fact
Juniper Green Energy’s subsidiary, Juniper Green Cosmic, commissioned 100.64 MWh of Battery Energy Storage System capacity under Bikaner Phase II on September 29, 2026. The subsidiary’s aggregate commissioned BESS capacity increased from 100.64 MWh to 201.28 MWh, while the group’s aggregate operational capacity reached approximately 2,725 MWp and 600 MWh of BESS.
PRESTIGE: Prestige Group strengthens Hospitality portfolio through strategic partnership. .
Why it matters
CapitSignal interpretation
If completed, the transaction would bring substantial capital into PHVL while reducing Prestige Estates’ wholly owned interest through a combination of primary infusion and secondary purchase. Prestige Estates is also expected to receive proceeds from the secondary sale in the first tranche.
What happened
Fact
Prestige Estates Projects executed transaction documents with CPPIB and its wholly owned subsidiary Prestige Hospitality Ventures Limited for CPPIB to invest up to INR 30,00,00,00,000 through three tranches, representing an aggregate stake of approximately 27% in PHVL. Completion is subject to conditions precedent and necessary regulatory and lender approvals, including approval from the Competition Commission of India.
INR 30,00,00,00,000Proposed CPPIB investment
Maximum proposed investment in PHVL
approximately 27%CPPIB post-transaction stake
Aggregate proposed stake in PHVL
INR 950,00,00,000Tranche 1 proceeds to Prestige Estates
Consideration for sale of PHVL equity shares to CPPIB
INR 550,00,00,000Tranche 1 proceeds to PHVL
Issuance of Series A Compulsorily Convertible Preference Shares
INR 750,00,00,000Tranche 2 proceeds to PHVL
Issuance of Series B Compulsorily Convertible Preference Shares
INR 750,00,00,000Tranche 3 proceeds to PHVL
Issuance of Series C Compulsorily Convertible Preference Shares
within 60 daysExpected first-tranche completion
Expected timing stated in the filing, subject to conditions precedent
Watch next
Fact
Receipt of necessary regulatory approvals, including Competition Commission of India approval
Receipt of lender approvals and satisfaction of other conditions precedent
Completion of the first tranche, which is expected within 60 days
In continuation of our disclosure dated September 29, 2026, we submit herewith a Press Release on the Outcome of the Board Meeting of JSW Cement held on September 29, 2026 Approving Scheme of Arrangem
Why it matters
CapitSignal interpretation
The proposed merger would simplify the group structure and bring Shiva Cement's clinker facility into JSW Cement, which the company says could improve raw-material procurement, supply-chain efficiency and funding flexibility. Shiva Cement public shareholders would move into a larger, more liquid listed entity if the scheme is completed.
What happened
Fact
JSW Cement and Shiva Cement boards approved a scheme to amalgamate Shiva Cement into JSW Cement, creating a unified cement platform. Shiva Cement public shareholders would receive 5 JSW Cement equity shares of face value INR 10 each for every 41 Shiva Cement equity shares of face value INR 2 each, subject to required approvals.
5 JSW Cement equity shares for every 41 Shiva Cement equity sharesShare exchange ratio
Shares to be issued to Shiva Cement shareholders other than JSW Cement
12-14 monthsExpected completion
Expected transaction timeline, subject to timely regulatory approvals
24.10 MTPAJSW Cement grinding capacity
Company cement grinding capacity stated in the release
9.74 MTPAJSW Cement clinkerisation capacity
Company clinkerisation capacity stated in the release
Watch next
Fact
Approvals from stock exchanges, SEBI, NCLT and other applicable authorities
Shareholder and creditor approvals, if required
Completion of the scheme within the stated 12-14 month timeframe
Ksb Limited has informed the Exchange about Bagging/Receiving of orders/contracts
Why it matters
CapitSignal interpretation
The order adds international project execution visibility for KSB in fertilizer and energy applications. However, payment is specified as due after installation, and the filing does not state the expected revenue or profit contribution.
What happened
Fact
KSB Limited received an international export order from Dangote Projects Free Zone Enterprise to supply around 18 Boiler Feed Pump Packages. The order is worth $12,400,051 USD, approximately 1180 MINR, with delivery scheduled between September 2027 and March 2028; payment is due after installation.
$12,400,051 USD; Approx 1180 MINROrder value
Broad consideration of the international order
Around 18 Nos.Order quantity
Boiler Feed Pump Packages to be supplied
Between September 2027 and March 2028Execution period
Stated delivery and order execution timeline
After installationPayment terms
Terms of payment
Watch next
Fact
Progress toward deliveries between September 2027 and March 2028
Artemis Medicare Services Limited has submitted to the Exchange a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Why it matters
CapitSignal interpretation
The notice creates a potential GST liability of ₹11.11 crore, excluding interest and penalties. Its financial outcome remains uncertain because the company intends to challenge the notice and cites an interim stay in a related earlier matter.
What happened
Fact
Artemis Medicare Services received a CGST Gurugram show-cause notice concerning FY 2022-23. The GST department alleges the company charged in-patients MRP, including GST, for medicines, consumables and implants without remitting the GST to the government; the stated exposure is ₹11.11 crore plus interest and penalty. The company is preparing a writ petition to connect this matter with an earlier pending writ, for which further proceedings were stayed on an interim basis.
JSW Cement Limited has informed the Exchange regarding Outcome of Board Meeting held on September 29, 2026.
Why it matters
CapitSignal interpretation
The transaction would simplify the group structure by combining Shiva Cement with JSW Cement. The reserve adjustment is intended to right-size Shiva Cement’s financial statements and does not involve consideration or change its shareholding pattern.
What happened
Fact
JSW Cement’s board approved a scheme to amalgamate Shiva Cement into JSW Cement, subject to shareholder, regulatory and National Company Law Tribunal approvals. The scheme also reorganises Shiva Cement’s reserves by adjusting accumulated losses against its securities premium account.
INR (133.92) croreINR (133.92) crore
likely debit balance of Shiva Cement retained earnings after the reserve reorganisation
NilNil
likely Shiva Cement securities premium account balance after the reserve reorganisation
Watch next
Fact
Shareholder, regulatory and National Company Law Tribunal approvals
Filing of the scheme with stock exchanges under Regulation 37
Scheme terms, including any share-exchange mechanics and appointed date
HEG Advanced Materials Limited has informed the Exchange regarding 'Apportionment of the Cost of Acquisition of Equity Shares of the Company, between the Company and HEG Graphite Limited, pursuant to
Why it matters
CapitSignal interpretation
The allocation determines the tax cost base shareholders may use for their continuing HEG Advanced Materials shares and the newly allotted HEG Graphite shares. The company notes that tax authorities could take a different view and advises shareholders to seek professional advice.
What happened
Fact
HEG Advanced Materials issued shareholder guidance on allocating the pre-demerger acquisition cost of its shares following the graphite business demerger. Shareholders should apportion their original cost at 27.60% to HEG Advanced Materials and 72.40% to HEG Graphite; HEG Graphite shares were allotted on September 11, 2026 at one share for every HEG Advanced Materials share held on September 7, 2026.
27.60%HEG Advanced Materials cost allocation
portion of pre-demerger equity-share acquisition cost allocated to HEG Advanced Materials shares
72.40%HEG Graphite cost allocation
portion of pre-demerger equity-share acquisition cost allocated to HEG Graphite shares
1 equity share for every 1 equity share heldDemerger share entitlement
HEG Graphite shares allotted for each HEG Advanced Materials share held on the record date
September 11, 2026Share allotment date
date HEG Graphite shares were allotted in relation to the demerger
Repco Home Finance Limited has informed the Exchange regarding Raising of funds .
Why it matters
CapitSignal interpretation
The approval provides the company with authorisation to pursue two debt-market funding routes. The filing does not provide issuance timing, pricing, maturity or intended use of funds.
What happened
Fact
Members approved proposals to raise funds through private-placement issues of Non-Convertible Debentures and Commercial Paper. The approved amounts are Rs. 1500 Crore for NCDs and Rs. 1000 Crore for CP.
Rs. 1500 CroreNCD fundraising
Aggregate amount approved for issue of Non-Convertible Debentures through private placement
Rs. 1000 CroreCP fundraising
Aggregate amount approved for issue of Commercial Paper through private placement
Watch next
Fact
Whether the company proceeds with the approved NCD and CP issuances
The pricing, maturity and other terms of any subsequent issuances
Ganesh Benzoplast Limited has informed the Exchange regarding Outcome of Board Meeting held on September 29, 2026.
Why it matters
CapitSignal interpretation
The businesses being sold represented 46.02% of consolidated revenue and 44.90% of consolidated net worth in the year ended March 31, 2026, based on the disclosed segment contributions. The transaction would therefore substantially reshape the company’s operating asset base, subject to closing conditions.
What happened
Fact
Ganesh Benzoplast’s board approved the slump sale of its liquid storage tank undertaking at JNPT, Cochin and Goa, and the transfer of its Daund rail logistics business to Cisternina Logistics Private Limited. The aggregate consideration is ₹1,154 crore, subject to adjustments and milestones in definitive documents, with completion subject to shareholder and regulatory approvals.
Gufic Biosciences Limited has informed the Exchange about the intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Why it matters
CapitSignal interpretation
Once the order is given effect to, the company says the ₹4.33 crore tax demand will be deleted, removing this stated tax liability.
What happened
Fact
Gufic Biosciences received an appellate order allowing its appeal against an income-tax demand for Assessment Year 2024-25. The demand arose from a disallowance of expenditure under the income-tax assessment computation.
Rs. 4,33,36,680Income-tax demand to be deleted
Assessment Year 2024-25 demand, subject to the appellate order being given effect to
Watch next
Fact
Implementation of the appellate order and deletion of the tax demand.
United Breweries Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
Why it matters
CapitSignal interpretation
The aggregate demand creates a tax-litigation exposure, although the company said the underlying assessment issues are already under appeal and it believes it has a strong case to defend before the relevant appellate authority.
What happened
Fact
United Breweries received seven penalty orders from the Income Tax Department’s NFAC for assessment years 2013-14, 2014-15, 2017-18, 2018-19, 2020-21 and 2022-23, aggregating ₹54,82,99,656. The company said the underlying assessment matters are already under appeal before the ITAT or Commissioner of Income-tax (Appeals), and the penalty issues remain pending adjudication.
₹54,82,99,656Aggregate penalty demand
Seven NFAC penalty orders
₹26,98,91,806Largest individual penalty demand
AY 2022-23 penalty demand under section 270A
₹9,53,62,045AY 2013-14 penalty demand
Penalty demand under section 271(1)(c)
₹8,15,27,270AY 2014-15 penalty demand
Penalty demand under section 271(1)(c)
Watch next
Fact
Company’s challenge to the penalty orders before the relevant appellate authority
Outcomes of the pending ITAT and Commissioner of Income-tax (Appeals) proceedings
Any quantified financial implication or accounting update from the company
L&T Finance Limited has informed the Exchange regarding allotment of Non-Convertible Debentures on a private placement basis.
Why it matters
CapitSignal interpretation
The allotment provides L&T Finance with subordinated capital through a private placement, while creating coupon and principal repayment obligations. The debentures are unsecured and subordinated, and are proposed to be listed on the NSE’s Negotiated Trade Reporting Platform.
What happened
Fact
L&T Finance allotted 52 subordinated, unsecured, rated, listed and redeemable non-convertible debentures through private placement on September 29, 2026. The debentures have an aggregate nominal value of ₹52 crore, mature on July 1, 2036, and are intended for inclusion as Tier II Capital.
52Debentures allotted
Number of subordinated, unsecured, rated, listed, redeemable NCDs allotted
₹52 croreAggregate nominal value
Total nominal value of the allotment
8.20% p.a.Coupon rate
Annual coupon payable on the debentures
3,653 daysOriginal tenor
Stated original tenor
July 1, 2036Maturity date
Date of maturity/redemption
Intended for inclusion as Tier II CapitalTier II Capital
Purpose stated in the issue terms
Watch next
Fact
Completion of the proposed listing on the NSE’s Negotiated Trade Reporting Platform.
The orders add to JNK India’s project execution pipeline across flare package supply and related services. The filing does not disclose the exact contract value or customer name, limiting assessment of the financial impact.
What happened
Fact
JNK India received two significant orders on September 28, 2026: one for supplying a flare package and another for installation, commissioning and handover services. The combined project delivery schedule is 16 months from the order effective date, and the customer is an Indian company with execution at an Indian site.
Significant; ₹0–100 croreOrder classification
Company’s project classification for the combined orders
16 monthsExecution timeline
Project delivery schedule from the order effective date
2Orders received
One supply order and one services order
Watch next
Fact
Order effective date and progress toward mechanical completion
Recognition of revenue and margins from the two orders
Any subsequent disclosure of the exact contract value or customer identity
Spandana Sphoorty Financial Limited has informed the Exchange about Conversion of partly paid-up equity shares into fully paid-up equity shares in relation to the rights issue ( Rights Issue ) by Span
Why it matters
CapitSignal interpretation
The filing records the completion of the applicable call-money process for 1,69,05,255 rights shares, moving them from partly paid-up to fully paid-up status. It does not disclose additional capital raised or any change in the total number of shares outstanding.
What happened
Fact
Spandana Sphoorty’s Capital Raising Committee approved the conversion of 1,69,05,255 partly paid-up rights shares into an equal number of fully paid-up equity shares. The conversion relates to First and Final Call Money received through the ASBA facility, as applicable.
1,69,05,255Shares converted
Number of partly paid-up rights shares converted into fully paid-up shares
50% paid-upPartly paid status
Status of the rights shares before conversion
₹5.00 per shareFace value paid
Face value component paid before conversion
₹110.00 per sharePremium paid
Premium component paid before conversion
₹10.00 per shareFully paid share face value
Face value of each share after conversion
Watch next
Fact
Whether the converted shares are credited and admitted for trading under ISIN INE572J01011.
Any subsequent disclosure on remaining partly paid-up rights shares or outstanding call money, if applicable.
Artemis Medicare Services Limited has submitted to the Exchange a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Why it matters
CapitSignal interpretation
The notice creates a potential tax liability beyond the stated ₹11.11 crore because interest and penalty may also apply. The company intends to challenge it in court, and an earlier related matter is already subject to an interim stay.
What happened
Fact
Artemis Medicare Services received a CGST Gurugram show-cause notice for FY 2022-23 alleging that it charged in-patients MRP inclusive of GST on medicines, consumables and implants without remitting the GST to the government. The stated exposure is ₹11.11 crore plus interest and penalty; the company is preparing a writ petition and plans to connect it with an earlier matter that has an interim stay.
₹11.11 crore plus interest and penaltyExpected financial implication / claim
GST show-cause notice for April 1, 2022 to March 31, 2023
Watch next
Fact
Filing and outcome of the proposed writ petition before the Punjab & Haryana High Court
Any interim protection or linkage with the earlier writ matter
Tata Steel Limited has informed the Exchange about acquisition of equity shares in T Steel Holdings Pte. Ltd
Why it matters
CapitSignal interpretation
The funding increases Tata Steel's capital deployed in its overseas wholly owned subsidiary under an already approved investment framework. The filing does not state the intended use of the latest funds or the remaining available capacity under the approved limit.
What happened
Fact
Tata Steel acquired 393,51,85,186 equity shares in its wholly owned foreign subsidiary, T Steel Holdings Pte. Ltd, for USD 340 million (₹3,260.32 crore) on September 29, 2026. The investment is part of a previously approved additional-funds infusion of up to USD 2 billion, within an aggregate investment limit of USD 26.21 billion; TSHP remains wholly owned.
USD 340 million (₹3,260.32 crore)Latest equity investment
subscription/acquisition of TSHP equity shares
393,51,85,186Shares acquired
TSHP equity shares acquired
up to USD 2 Billion (~₹18,488.10 crore)Additional approved infusion
Board-approved additional funding capacity
USD 26.21 BillionAggregate investment limit
aggregate approved investment limit in TSHP
₹95.8918 per USDExchange rate used
RBI rate published on September 25, 2026
Watch next
Fact
Further tranches under the up to USD 2 Billion additional-funding approval
Disclosure of the intended use or business impact of TSHP funding
BGR Energy Systems Limited has informed the Exchange about Corporate Insolvency Resolution Process
Why it matters
CapitSignal interpretation
The extension keeps the NCLT order suspended pending the next hearing, while a proposed settlement with NARCL may affect the course of the insolvency proceedings. The filing does not disclose settlement terms or whether an agreement has been reached.
What happened
Fact
The NCLAT heard BGR Energy Systems’ appeal on September 28, 2026 and adjourned the matter to November 16, 2026, noting recent developments toward a settlement proposal with NARCL. The NCLAT’s earlier suspension of the NCLT order has been extended until the next hearing date; the company said it has not yet received the order copy.
16th November 2026Next NCLAT hearing date
adjourned appeal hearing
28th September 2026Appeal hearing date
date NCLAT heard the appeal
Watch next
Fact
Receipt and disclosure of the NCLAT order copy
Developments or terms of the proposed settlement with NARCL
Outcome of the NCLAT hearing on 16th November 2026
Capital India Finance Limited has informed the Exchange regarding a press release dated September 29, 2026, titled "Capital India Finance Limited raised INR 100 Crore through the issuance of Non-Conve
Why it matters
CapitSignal interpretation
The fundraise adds secured debt funding to support the company’s planned lending growth and diversifies its borrowing sources. The fixed 10% coupon and secured structure are relevant to the company’s future funding costs and obligations.
What happened
Fact
Capital India Finance Limited raised ₹100 crore through a private placement of listed, rated, senior, secured, transferable and redeemable NCDs. The issuance comprised a ₹50 crore base issue and a ₹50 crore green shoe option; the NCDs have a 27-month tenure, carry a fixed 10% annual coupon payable quarterly, and will be listed on BSE.
₹100 croreNCD issuance
Total funds raised through private placement
₹50 croreBase issue
Base component of the issuance
₹50 croreGreen shoe option
Additional issuance component
27 monthsTenure
NCD maturity period
10% per annumCoupon
Fixed annual interest rate, payable quarterly
₹1,227.37 croreAssets under management
FY 2026 AUM, up 22% year-on-year
₹69.53 croreQ1 FY 2027 standalone total income
Total income, up 32% year-on-year
43.58%Capital adequacy ratio
Reported as of June 30, 2026
Watch next
Fact
Deployment of the raised funds toward secured MSME and retail lending growth
Progress in expanding the lending business while maintaining asset quality, liquidity and sustainable returns
Muthoot Capital Services Limited has informed the Exchange regarding Meeting of Debenture Issue and Allotment Committee scheduled to be held on October 03, 2026, to consider and approve the proposal t
Why it matters
CapitSignal interpretation
The filing signals a potential upcoming private-placement debt issuance, but provides no details on the issue size, pricing, tenure, or use of proceeds.
What happened
Fact
Muthoot Capital Services said its Debenture Issue and Allotment Committee will meet on October 03, 2026. The committee will consider and approve a proposed issuance of non-convertible debentures through private placement, within limits approved by the board and shareholders.
October 03, 2026Committee meeting date
Scheduled meeting to consider the proposed NCD issuance
Non-Convertible DebenturesInstrument
Proposed privately placed debt securities
Watch next
Fact
Committee approval of the proposed NCD issuance
Issue size, pricing, tenure, and other terms if subsequently disclosed
Panacea Biotec Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
Why it matters
CapitSignal interpretation
The demand creates a potential tax liability, though the company considers it not maintainable and intends to appeal. Panacea Biotec states that it does not foresee a significant financial, operational or other impact.
What happened
Fact
Panacea Biotec received two demand orders dated September 28, 2026 from the Assistant Commissioner of Income Tax, Delhi. The orders impose aggregate penalties of approximately ₹4.32 crore for alleged misreporting or under-reporting of income for assessment years 2022-23 and 2023-24.
~₹4.32 CroreAggregate tax penalty demand
Penalties under Section 270A for alleged misreporting / under-reporting of income
2Number of demand orders
Demand orders received from the Office of the Assistant Commissioner of Income Tax, Delhi
Watch next
Fact
Filing and outcome of the appeal against the demand
Any revised assessment of the ₹4.32 crore penalty or related financial impact
Power Mech Projects Limited has informed the Exchange about Bagging/Receiving of orders/contracts
Why it matters
CapitSignal interpretation
The order adds a five-year O&M contract to Power Mech Projects’ disclosed work pipeline, with stated consideration of ₹549.37 crore. The filing states that the contract is not a related-party transaction and that the promoter or promoter group has no interest in the awarding entity.
What happened
Fact
Power Mech Projects secured a domestic operations and maintenance contract from MOXIE POWER GENERATION LIMITED, an Adani Group entity, for complete O&M services at the 2x600 MW Moxie Power Generation Tuticorin TPP. The contract runs from 1 October 2026 to 30 September 2031 and is valued at ₹549.37 crore, excluding GST but including other taxes and duties.
₹549.37 croreContract value
Broad consideration including all taxes and duties except GST
60 monthsContract period
Execution period from 01.10.2026 to 30.09.2031
2x600 MWProject scope
Complete operations and maintenance services at the Tuticorin TPP
MOXIE POWER GENERATION LIMITEDAwarding entity
Domestic entity and Adani Group company identified as the customer
Watch next
Fact
Contract commencement on 01.10.2026
Execution of the 60-month O&M mandate through 30.09.2031
Revenue and profitability contribution from the contract
Capital India Finance Limited has informed the Exchange regarding allotment of Non-Convertible Debentures of INR 100 Crores raised through Private Placement basis
Why it matters
CapitSignal interpretation
The allotment provides Capital India Finance with ₹100 crore of debt funding, while creating fixed coupon and principal repayment obligations. The NCDs are intended to be listed on BSE, with interest payable quarterly and principal payable on the redemption date.
What happened
Fact
Capital India Finance’s Securities Issuance Committee approved the private-placement allotment of 1,00,000 listed, rated, senior, secured, transferable and redeemable NCDs on September 29, 2026. The issue comprises a ₹50 crore base issue and a green shoe option of up to ₹50 crore; the NCDs have a 27-month tenure and mature on December 29, 2028.
₹100 croreTotal issue size
₹50 crore base issue with a green shoe option of up to ₹50 crore
1,00,000NCDs allotted
Number of non-convertible debentures allotted
₹10,000 per NCDFace value
Face value of each NCD
10% per annum, fixedCoupon
Fixed coupon offered on the NCDs
27 monthsTenure
Instrument tenure
December 29, 2028Maturity
Date of maturity
Watch next
Fact
Listing of the NCDs on BSE
Quarterly coupon payments at the fixed 10% annual rate
Repayment of principal on the December 29, 2028 redemption date
Bluspring Enterprises Limited has informed the Exchange regarding 'Proposed Scheme of Amalgamation of Bluspring New Horizon Two Private Limited ("Transferor Company") with LSG Sky Chefs India Private
Why it matters
CapitSignal interpretation
The proposed consolidation simplifies Bluspring’s holding structure around its airline catering and in-flight logistics business. The company expects operational, administrative and cash-management efficiencies, though no quantified savings were disclosed.
What happened
Fact
Bluspring New Horizon Two Private Limited and LSG Sky Chefs India Private Limited approved a scheme to merge the former into the latter. Both are unlisted wholly owned entities within Bluspring’s group, and the merger remains subject to regulatory approvals and legal compliance.
INR 189.08 CroresLSG Sky Chefs India FY26 turnover
audited financials as on March 31, 2026
100%LSG Sky Chefs acquisition stake
paid-up share capital acquired by the Transferor Company
Watch next
Fact
Regulatory approvals and legal compliance for the scheme
Completion timeline for the amalgamation
Any quantified cost savings or financial impact from the consolidation
The Hi-Tech Gears Limited has informed the Exchange about Corporate Insolvency Resolution Process
Why it matters
CapitSignal interpretation
The continuation of the stay means the CIRP remains paused pending the next hearing. The October 5 consideration of the stay-vacation application is the immediate procedural catalyst.
What happened
Fact
The NCLAT adjourned the appeal involving The Hi-Tech Gears Ltd. to October 5, 2026, to consider a pending application seeking vacation of the stay. The tribunal directed that its interim order staying the corporate insolvency resolution process (CIRP) will continue until the next hearing.
October 05, 2026Next NCLAT hearing
date fixed for consideration of the stay-vacation application
September 03, 2024Interim stay order date
original order granting the interim stay on CIRP
Watch next
Fact
NCLAT’s decision on the stay-vacation application at the October 05, 2026 hearing
Whether the interim stay on the CIRP is continued, modified, or vacated
This is to inform you that the Company has made an investment through rights issue in its Wholly-Owned Subsidiary i.e. Systematix Wealth & Asset Services Limited
Why it matters
CapitSignal interpretation
The transaction provides working capital to the company’s wholly owned capital-markets subsidiary while preserving full ownership. It is a related-party transaction disclosed as being conducted at arm’s length, and involves a cash outflow without increasing the parent’s ownership percentage.
What happened
Fact
Systematix Corporate Services subscribed to 1,00,00,000 equity shares of its wholly owned subsidiary, Systematix Wealth & Asset Services Private Limited, at ₹10 per share for a total cash consideration of ₹10,00,00,000. The investment is intended to meet the subsidiary’s working capital requirements, with no change in the company’s wholly owned status.
₹10,00,00,000Investment amount
Cash consideration for the rights issue subscription
1,00,00,000 equity sharesShares subscribed
Number of equity shares acquired
₹10 per shareIssue price
Face value and subscription price, at par
₹193.06 lakhsSubsidiary turnover
Turnover of Systematix Wealth & Asset Services Private Limited for the financial year ended March 31, 2026
Watch next
Fact
How the subsidiary deploys the working capital across its wealth management, alternative investment fund and distribution businesses.
Whether the subsidiary’s business performance improves following the capital infusion.
Nuvoco Vistas Corporation Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
Why it matters
CapitSignal interpretation
The notice creates a tax-contingency exposure for a wholly owned subsidiary, including interest and a proposed penalty. The company states that it expects no major financial impact and intends to contest the demand.
What happened
Fact
The Deputy Commissioner, State Tax (Audit), Patna issued a show-cause notice to NU Vista Limited, Nuvoco Vistas’ wholly owned subsidiary, for FY 2022-23. The notice proposes a ₹10,70,08,912 demand over input-tax-credit issues and tax on advances received for goods, along with consequential interest and a 10% penalty; the company plans to file a reply.
₹10,70,08,912Proposed tax demand
Show-cause notice under Section 73 of the CGST Act, 2017, for FY 2022-23
10%Proposed penalty
Consequential penalty proposed in the show-cause notice
Watch next
Fact
The subsidiary’s reply to the show-cause notice
Any final tax order, interest or penalty assessment
Endurance Technologies Limited has informed the Exchange about acquisition of remaining 32% stake in Stoeferle GmbH and Stoeferle Automotive GmbH by Endurance Overseas SpA, Italy, a wholly-owned subsi
Why it matters
CapitSignal interpretation
Full ownership removes minority-shareholder considerations and is expected to give EOSpA greater flexibility over management, restructuring, investment and growth plans. The €18 million consideration is lower than the originally agreed €20.13 million consideration, while accelerating ownership that was otherwise due by June 2030.
What happened
Fact
Endurance Overseas SpA, Endurance Technologies’ wholly owned Italian subsidiary, signed an amendment to acquire the remaining 32% stake in Germany’s Stöferle Automotive GmbH and Stöferle GmbH for an upfront cash consideration of €18 million. The stake had previously been scheduled for acquisition in equal tranches over four financial years through June 2030; the transaction would give EOSpA full ownership.
32%Remaining stake acquired
equity stake in the Stöferle entities
€ 18 millionUpfront cash consideration
negotiated consideration for the remaining 32% stake
€ 20.13 millionOriginal agreed consideration
previously agreed purchase consideration for the remaining stake
€ 76.4 millionStöferle Automotive turnover
audited turnover at 31st March, 2026
€ 16.9 millionStöferle GmbH turnover
audited turnover at 31st March, 2026
Watch next
Fact
Completion of the remaining 32% stake acquisition
Integration of management, governance and operating decisions under full ownership
Implementation of restructuring, investment and growth plans for the Stöferle entities
The Ramco Cements Limited has informed the Exchange about Capacity Expansion
Why it matters
CapitSignal interpretation
The completed expansion increases the company’s production capacity at Jayanthipuram and raises its aggregate clinkerisation and cement grinding capacities. The filing does not disclose the investment required or financing mode.
What happened
Fact
Ramco Cements completed de-bottlenecking at its Jayanthipuram works, increasing clinkerisation capacity from 4.61 MTPA to 5.62 MTPA and cement grinding capacity from 3.65 MTPA to 4.38 MTPA. The company’s aggregate clinkerisation capacity now stands at 16.95 MTPA, while aggregate cement grinding capacity stands at 27.17 MTPA.
5.62 MTPA, up from 4.61 MTPAJayanthipuram clinkerisation capacity
Capacity after completed de-bottlenecking
4.38 MTPA, up from 3.65 MTPAJayanthipuram cement grinding capacity
Capacity after completed de-bottlenecking
1.01 MTPAClinkerisation capacity addition
Capacity addition at Jayanthipuram
0.73 MTPACement grinding capacity addition
Capacity addition at Jayanthipuram
16.95 MTPAAggregate clinkerisation capacity
Company-wide capacity after expansion
27.17 MTPAAggregate cement grinding capacity
Company-wide capacity after expansion
Watch next
Fact
Utilisation of the expanded Jayanthipuram capacities
Production and sales volumes following the capacity addition
Update 12 of 14 in a matter ongoing since Procedural
Distressinsolvency
Why it matters
CapitSignal interpretation
Once an insolvency process is admitted, control of the company passes from the board to a resolution professional and equity ranks last in any recovery.
What happened
Fact
Post-facto intimation of 7th CoC Meeting of Osia Hyper Retail Limited (In CIRP).
SPR Auto Technologies Limited has informed the Exchange regarding 'Certificate of payment of Interest to Non-Convertible Debenture holders pursuant to Regulation 57 of the SEBI (Listing Obligations an
Why it matters
CapitSignal interpretation
The filing confirms that scheduled interest obligations on both listed NCD series were paid on time, with no reported payment delay or default. This is a routine debt-servicing compliance update.
What happened
Fact
SPR Auto Technologies Limited reported timely payment of interest due on its listed, secured, rated, redeemable, non-cumulative, non-convertible debentures. Interest for both Series 1 and Series 2 was paid on September 29, 2026, ahead of the September 30, 2026 due date, with no delay reported.
'In pursuant to Regulation 30 of SEBI LODR, Kaya Limited hereby informs about the Clarifications issued in furtherance to the in-principal application of Preferential Issue of Equity Shares'.
Why it matters
CapitSignal interpretation
The disclosure revises the proposed allottees' post-issue ownership percentages on a fully diluted basis, but Kaya stated that it does not change the number of shares proposed to be allotted or the issue price.
What happened
Fact
Kaya clarified that its proposed preferential issue covers 18,24,150 equity shares at an issue price of ₹274.10 per share, including a premium of ₹264.10. The company revised its post-issue shareholding disclosures to account for 5,39,739 outstanding ESOPs and extended the relevant pre-preferential shareholding lock-in period from March 1, 2027, to March 31, 2027, while stating that the proposed allotment size and issue price remain unchanged.
18,24,150 equity sharesPreferential issue size
Number of equity shares proposed to be allotted
₹274.10 per equity shareIssue price
Preferential issue price
₹264.10 per equity shareIssue premium
Premium over the ₹10 face value
5,39,739 equity sharesOutstanding ESOPs
Outstanding ESOPs included in the fully diluted post-issue shareholding pattern
March 31, 2027Revised lock-in end date
Extended lock-in period for the concerned allottee's pre-preferential shareholding
Watch next
Fact
Completion of the proposed preferential allotment
The revised fully diluted post-issue shareholding pattern
Compliance with the revised lock-in period ending March 31, 2027
Kalpataru Projects International Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
Why it matters
CapitSignal interpretation
The upheld court order leaves KEPL's termination-payment and related interest claim set aside, potentially delaying or reducing recovery from the arbitration award. The filing does not state the monetary value of the affected claim.
What happened
Fact
The Delhi High Court on 28 September 2026 upheld the 28 July 2026 order that partially set aside an arbitral award won by Kurukshetra Expressway Private Limited (KEPL), a joint venture of Kalpataru Projects International. The earlier order set aside the award for termination payment and related interest while upholding awards on all other claims; KEPL says it plans to take legal steps, including filing an appropriate petition.
49.57%KPIL stake in KEPL
joint-venture ownership stated in the enclosed earlier disclosure
Watch next
Fact
Whether KEPL files its planned petition challenging the order
Outcome of any further legal proceedings on the termination-payment and interest claim
Indo Borax & Chemicals Limited has informed the Exchange regarding 'Completion of the acquisition of 64.26 % of the share capital of Kronox Lab Sciences Limited'.
Why it matters
CapitSignal interpretation
The transaction gives Indo Borax a 64.26% holding in Kronox Lab Sciences, making the acquisition a significant expansion of its ownership interests.
What happened
Fact
Indo Borax & Chemicals completed its acquisition of 2,38,44,000 equity shares in Kronox Lab Sciences on September 29, 2026. The acquired shares represent 64.26% of Kronox Lab Sciences' total paid-up equity share capital.
2,38,44,000Equity shares acquired
shares acquired in Kronox Lab Sciences
64.26%Stake acquired
of Kronox Lab Sciences' total paid-up equity share capital
September 29, 2026Completion date
date acquisition was completed
Watch next
Fact
Further disclosures on the acquisition's financial impact and integration of Kronox Lab Sciences.
Arisinfra Solutions Limited has informed the Exchange about Bagging/Receiving of orders/contracts through its Subsidiary Company
Why it matters
CapitSignal interpretation
The order adds a new DaaS engagement for Arisinfra through its subsidiary, but the filing does not disclose the service-order value or expected revenue. The project’s stated ₹400 Crores GDV is not the disclosed consideration payable to Arisinfra.
What happened
Fact
Arisunitern RE Solutions, a subsidiary of Arisinfra Solutions, received a service order from Transcon Bellaviu Private Limited to provide DaaS services for the Transcon UNO residential project in Kalina, Mumbai. The engagement starts September 29, 2026, runs for an initial 18 months, and may be extended by mutual consent.
₹400 CroresEstimated project GDV
Estimated gross development value of the Transcon UNO residential project
18 monthsInitial engagement term
Initial duration of the DaaS service engagement
September 29, 2026Start date
Commencement date of the engagement
Watch next
Fact
Disclosure of the service-order value or revenue contribution
Execution of the engagement during the initial 18-month term
Whether the engagement is extended by mutual consent
KPI Green Energy Limited has informed the Exchange regarding Receipt of Work Order worth approx. Rs. 2,025 crore for 500 MW / 550 MWp Solar EPC Project from NACOF Oorja Private Limited. The Disclosure
Why it matters
CapitSignal interpretation
The order adds to KPI Green Energy’s EPC order book and provides stated revenue visibility over the coming year. It also expands the company’s turnkey EPC involvement in a utility-scale solar project in Rajasthan.
What happened
Fact
KPI Green Energy received a work order from NACOF Oorja Private Limited for turnkey EPC of a 500 MW / 550 MWp solar photovoltaic project in Bikaner, Rajasthan. The project is scheduled for completion within 12 months from handing over of the project site, and the order includes design, procurement, installation, testing and commissioning, along with civil and electrical works.
Approximately ₹2,025 croreOrder value
Aggregate consideration, inclusive of all taxes and GST
500 MW / 550 MWpProject capacity
Solar photovoltaic project size
12 monthsExecution period
From handing over of the project site up to commissioning
5,000 MW (AC)Solar park capacity
Solar photovoltaic power park being developed by NACOF Oorja Private Limited
Watch next
Fact
Handing over of the project site, which starts the stated 12-month execution period.
Progress toward commissioning within the scheduled 12-month period.
Execution of the turnkey scope, including the 33 kV transmission line, evacuation bay and associated electrical systems.
Non-Binding Memorandum of Understanding (MoU) between Coal India Limited and Hindustan Urvarak & Rasayan Limited (HURL) - Reg
Why it matters
CapitSignal interpretation
The MoU initiates evaluation of a potential project, but it is non-binding and no project economics, investment commitment or implementation timeline has been disclosed. Viability will depend on the forthcoming feasibility assessment.
What happened
Fact
Coal India Limited and Hindustan Urvarak & Rasayan Limited signed a non-binding MoU on 29.09.2026 to explore developing a coal-gasification-based urea production project at Sindri, Jharkhand. The initial work will assess technical, commercial and implementation aspects and support preparation of a Preliminary Feasibility Report.
29.09.2026MoU execution date
Date the non-binding MoU was executed
Sindri, JharkhandProject location
Proposed location of the coal-gasification-based urea production project
Watch next
Fact
Preparation of the Preliminary Feasibility Report
Findings on the project's technical and commercial viability
Any subsequent binding agreement or implementation decision
Transport Corporation of India Limited has informed the Exchange regarding Outcome of Board Meeting held on September 29, 2026 pertaining to the Buyback of equity shares of the Company and matters inc
Why it matters
CapitSignal interpretation
The buyback represents a cash return of up to ₹1.50 billion to eligible non-promoter shareholders and may alter the shareholding mix depending on participation. The China subsidiary adds an international expansion initiative, though the filing does not disclose its investment amount or financial impact.
What happened
Fact
Transport Corporation of India approved a tender-offer buyback of up to 1,562,500 equity shares at ₹960 per share, for an aggregate amount not exceeding ₹1.50 billion. The company also approved incorporation of a wholly owned subsidiary in China to expand its international logistics network across key global trade corridors; promoters and the promoter group have stated they will not participate in the buyback.
INR 1,500,000,000Maximum buyback size
aggregate cash amount excluding transaction and other buyback-related costs
INR 960 per Equity ShareBuyback price
tender-offer buyback price
1,562,500 Equity SharesMaximum shares to be repurchased
maximum buyback quantity
2.03%Share capital represented
maximum shares as a percentage of total paid-up equity shares
6.76% / 6.15%Buyback size relative to reserves
percentage of aggregate paid-up equity share capital and free reserves under latest audited standalone / consolidated financial statements as at March 31, 2026
October 9, 2026Record date
eligibility date for buyback participation
Watch next
Fact
Any revision to the buyback price or quantity before the record date
Public announcement and letter of offer detailing the tender process and timeline
Disclosures on the China subsidiary's incorporation and investment requirements
GUJARAT ENERGY LIMITED has informed the Exchange about General Updates - Update on Scheme of Arrangement - GSPL Transmission Limited has received Final Listing and Trading Approval from BSE and NSE.
Why it matters
CapitSignal interpretation
Gujarat Energy shareholders who received GSPL Transmission shares under the scheme will have an exchange-traded market for those shares from September 30, 2026.
What happened
Fact
GSPL Transmission Limited received final listing and trading approvals from BSE and NSE on September 28, 2026. Its 31,27,43,617 equity shares of ₹10 each, allotted under the scheme of arrangement, will be listed and admitted to trading from September 30, 2026.
31,27,43,617 equity sharesShares listed
GSPL Transmission shares allotted pursuant to the scheme and approved for listing and trading
₹10 per equity shareFace value
face value of GSPL Transmission equity shares
30th September, 2026Trading commencement
BSE and NSE-approved commencement date
Watch next
Fact
Commencement of GSPL Transmission trading on September 30, 2026
SKIL Infrastructure Limited has informed the Exchange regarding the Post Facto Intimation of the Twelfth (12th) Committee of Creditors meeting held on Monday, September 28, 2026
Why it matters
CapitSignal interpretation
The filing confirms that the company’s insolvency resolution process remains active, but it does not disclose any decisions, resolution-plan progress, or financial outcomes from the meeting.
What happened
Fact
SKIL Infrastructure said its 12th Committee of Creditors meeting was held virtually on September 28, 2026. The meeting ran from 02:30 P.M. to 03:30 P.M.
Watch next
Fact
Any disclosed decisions or voting outcomes from the Committee of Creditors
Updates on progress or outcome of the corporate insolvency resolution process
The Great Eastern Shipping Company Limited has informed the Exchange about disclosure of events / information under Regulations 30 of Securities and Exchange Board of India (Listing Obligations and Di
Why it matters
CapitSignal interpretation
No tax liability or demand has been computed, but a review could result in tax, consequential interest and penalties. The company says any aggregate tax liability may or may not exceed its SEBI materiality threshold.
What happened
Fact
Greatship (India) Limited, a wholly owned subsidiary of The Great Eastern Shipping Company Limited, received eight review notices from the Joint Commissioner of State Tax, Mumbai. The notices propose review of prior appeal or rectification orders relating to vessel and rig charter hire, CST exemptions and applicable tax rates for FY 2013-14, FY 2014-15, FY 2016-17 and April 2017 to June 2017; GIL plans to submit written objections.
8Review notices
Notices received under Section 25 of the Maharashtra Value Added Tax Act, 2002
FY 2013-14, FY 2014-15, FY 2016-17 and April 2017–June 2017Periods under review
Financial periods specified in the notices
Watch next
Fact
GIL's written objections to the review notices
Any review orders quantifying tax, interest or penalties
Whether any resulting aggregate liability exceeds the company's materiality threshold
Mahindra & Mahindra Financial Services Limited has informed the Exchange regarding allotment of 125000 NCDs at its meeting held on September 29, 2026
Why it matters
CapitSignal interpretation
The allotment provides the company with Rs. 1,250 crore of debt funding at a fixed coupon, while adding corresponding interest and redemption obligations. The securities are proposed to be listed on BSE’s Wholesale Debt Market Segment.
What happened
Fact
Mahindra & Mahindra Financial Services allotted 125,000 secured, rated, listed, redeemable non-convertible debentures of Rs. 1,00,000 each, aggregating to Rs. 1,250 crore. The issue comprises a Rs. 1,000 crore base size and Rs. 250 crore green shoe subscription, with a fixed coupon of 7.95% per annum; the NCDs are proposed to be listed on BSE’s Wholesale Debt Market Segment.
Rs. 1,250 croreTotal issue size
aggregate subscription amount
Rs. 1,000 croreBase issue size
base issue size
Rs. 250 croreGreen shoe subscription
additional subscription
7.95% p.a.Coupon
fixed coupon
125,000Number of NCDs
securities allotted
Rs. 1,00,000 per debentureFace value
face value of each NCD
Watch next
Fact
Completion of the proposed listing on BSE’s Wholesale Debt Market Segment
Future disclosures on coupon servicing and redemption of the NCDs
Update 18 of 18 in a matter ongoing since Procedural
Distressinsolvency
As filed
BIL VYAPAR LIMITED has informed the Exchange about Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Intimation of meeting of Committee of
Why it matters
CapitSignal interpretation
The meeting is part of the company’s ongoing CIRP, a process that can affect its ownership, operations and resolution outcome. The filing does not disclose the agenda, decisions or financial terms.
What happened
Fact
BIL Vyapar Limited said its 20th Committee of Creditors meeting will be held on September 30, 2026. The company is under the corporate insolvency resolution process (CIRP).
20thCommittee of Creditors meeting
scheduled creditors’ committee meeting
September 30, 2026Meeting date
scheduled meeting date
Watch next
Fact
Any resolutions or outcomes from the 20th Committee of Creditors meeting
Global Health Limited has informed the Exchange regarding a press release dated September 29, 2026, titled "Medanta to expand Healthcare Footprint in Uttar Pradesh with the Acquisition of 10,560 Sq. M
Why it matters
CapitSignal interpretation
The potential hospital would extend Medanta's Delhi-NCR network into Ghaziabad and may address demand for tertiary and quaternary care across the surrounding catchment. The project remains conditional on statutory, customary and Board approvals.
What happened
Fact
Global Health has been allotted approximately 10,560 sq. metres of freehold land at Siddharth Vihar, Ghaziabad, through an online auction by the Uttar Pradesh Housing & Development Board. The parcel was allotted for approximately ₹165.82 crore and could support a 350+ bed hospital, subject to customary and statutory approvals and Board approval.
approximately 10,560 sq. metresLand parcel area
freehold land allotted at Siddharth Vihar, Ghaziabad
approximately ₹165.82 croreLand allotment value
price for the land parcel allotted through UPAVP online auction
350+ bedsPotential hospital capacity
potential development on the allotted parcel, subject to approvals
Watch next
Fact
Board approval for the proposed hospital
Customary and statutory approvals for development
Development plans and timing for the potential 350+ bed facility
TVS Srichakra Limited has informed the Exchange about the show cause notice received by the company
Why it matters
CapitSignal interpretation
The proposed demand could create a financial liability if upheld, although the matter remains at the notice stage and no final order, penalty, restriction or sanction has been imposed.
What happened
Fact
TVS Srichakra received a GST show-cause notice for FY 2022-23 from the Deputy Commissioner of State Tax, Bhiwandi, Mumbai, alleging excess input tax credit claimed in GSTR-3B versus GSTR-2B. The notice proposes ₹17.53 crore of tax, interest and penalty; the company is preparing a detailed response and says it has valid grounds to support its position.
Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Receipt of Show Cause Notice from GST Authority.
Why it matters
CapitSignal interpretation
The notice creates a potential GST-related liability, although the company states it does not envisage an adverse impact on its financials, operations or other activities.
What happened
Fact
Sanofi India received a GST show-cause notice from the State Tax Officer, Ahmedabad, concerning FY 2022-23. The notice proposes an aggregate tax, interest and penalty demand of ₹16,40,07,641 over alleged reporting, turnover reconciliation and input-tax-credit discrepancies; the company is examining it and plans to respond.
₹16,40,07,641Proposed GST demand
aggregate proposed tax, interest and penalty demand
FY 2022-23Relevant financial year
period covered by the GST matters
Watch next
Fact
Sanofi India's reply to the notice within the prescribed period
Any final GST order, revised demand or further disclosure on the matter
IRB Infrastructure Developers Limited has informed the Exchange regarding 'Company sponsored IRB InvIT Fund completes Fund-Raise through Institutional Placement and Preferential Allotment of Units'.
Why it matters
CapitSignal interpretation
The transaction provides capital for the InvIT’s proposed acquisition of two highway assets and is expected to release approximately Rs.2,744 Cr of equity consideration to the Private InvIT as seller. The company also says the capital unlocked will support the Private InvIT’s pursuit of new highway projects.
What happened
Fact
IRB Infrastructure Developers’ sponsored IRB InvIT Fund completed a Rs.2,351 Cr fund-raise, comprising Rs.2,000 Cr through qualified institutional placement and Rs.351 Cr through preferential allotment. The proceeds are intended to partly fund the acquisition of two BOT highway assets, while IRB Infrastructure Trust is expected to receive approximately Rs.2,744 Cr as equity consideration as the seller upon completion.
Rs.2,351 CrTotal fund-raise
Institutional placement and preferential allotment
Rs.2,000 CrQualified institutional placement
Amount raised through QIP
Rs.351 CrPreferential allotment
Amount invested by the Company to maintain its approximately 16% stake
Approximately Rs.2,744 CrExpected equity consideration
Expected amount receivable by IRB Infrastructure Trust as seller of the highway assets
Solapur Yedeshi NH211 and Chittorgarh Gulabpura NH79Assets to be acquired
Two BOT highway assets whose acquisition will be partly funded by the proceeds
Watch next
Fact
Completion of the acquisition of Solapur Yedeshi NH211 and Chittorgarh Gulabpura NH79
Receipt of approximately Rs.2,744 Cr of equity consideration by IRB Infrastructure Trust
Deployment of the Private InvIT’s capital into new highway projects
Anupam Rasayan India Limited has informed the Exchange about acquisition of equity shares of Bliss GVS Pharma Limited.
Why it matters
CapitSignal interpretation
The acquisition gives Anupam Rasayan and its PAC majority ownership and control of Bliss, making Bliss a controlled company with the acquirer and PAC designated as promoters.
What happened
Fact
Anupam Rasayan completed its SPA transaction and acquired a further 22,50,000 Bliss GVS Pharma shares through an on-market transaction on 28 September 2026. Together with its PAC, it now holds 5,32,36,264 shares, or 50.07% of Bliss’s equity capital, and has acquired control; both have been designated as Bliss promoters effective that date.
5,32,36,264 equity shares (50.07%)Combined holding in Bliss
aggregate holding of Anupam Rasayan and PAC after the acquisitions
5,09,84,595 equity shares (47.95%)Anupam Rasayan holding under SPA
acquisition completed pursuant to the SPA transaction
22,50,000 equity sharesOn-market acquisition
Bliss shares acquired by Anupam Rasayan on 28 September 2026
