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# Daily Filing Digest — Friday, 25 Sep 2026
- URL: https://www.moatmarginresearch.com/daily-filing-digest-2026-09-25/
- Published: 2026-09-26T04:07:39.000Z
- Updated: 2026-09-27T05:26:15.000Z
- Description: Welspun's order book hits ₹45,000 crore on US orders, SEBI restrains Omaxe, and two shareholders defeat a related-party resolution.
- Author: A K Karthikeyan
- Tags: Daily Filing Digest

**Welspun Corp won a ₹4,000 crore order for its US mill, taking its order book to about ₹45,000 crore. SEBI restrained Omaxe and three of its promoters from the securities market over minimum public shareholding. Natco Pharma priced a ₹1,279 crore rights issue. And at Agarwal Float Glass, two shareholders were enough to defeat the company's related-party transactions for the year.**

## The one to read first

**Welspun Corp**'s US subsidiary [won an order](https://nsearchives.nseindia.com/corporate/WELCORP%5F25092026082837%5FSEDisclosureUSOrdersigned.pdf) for HFIW pipes worth about USD 412.5 million (\~₹4,000 crore), the largest in its history by volume, length and value.

- The pipes will be made at the upgraded mill in Little Rock, USA, and delivered in FY28 and FY29.
- The global order book now stands at about USD 4.7 billion (\~₹45,000 crore). It was ₹25,350 crore in May.
- Most of that increase came from the US plant, including a ₹17,200 crore order announced on 20 August.

Full read: [Welspun Corp: The Order Book Moved to Arkansas](https://www.moatmarginresearch.com/welspun-corp-us-mill-order-book/)

## Deals

- **Signatureglobal** [added a 194.22-acre parcel](https://nsearchives.nseindia.com/corporate/SGLOBAL%5F25092026160124%5Fcollabagreesigned.pdf) at Farrukhnagar, Gurugram, for a farmhouse-villa project.  
  - It bought 25 acres and signed collaboration agreements for the other 169.22 acres.
  - It estimates about 6.77 million sq ft of developable area and a gross development value of ₹5,500–6,000 crore.
- **Edelweiss Financial Services** [closed the sale](https://nsearchives.nseindia.com/corporate/EDELWEISS%5F25092026172050%5FEFSL.pdf) of 45% of Nido Home Finance to a Carlyle affiliate and an investment vehicle of Aditya Puri's family.  
  - The sellers received ₹580.68 crore for the shares.
  - Nido raised a further ₹1,446.14 crore from the buyers through new shares and warrants. The total investment is over ₹2,000 crore.
- **QMS Medical Allied Services** and Health Care At Home [agreed to merge](https://nsearchives.nseindia.com/corporate/QMS%5F25092026193735%5FSignedPressReleaseIntimation.pdf) their patient-support businesses into Saarathi Healthcare, a wholly owned QMS subsidiary. The combined business runs 160+ programmes for more than 1.2 million patients.
- **Kalpataru Projects International**' Swedish subsidiary Linjemontage [listed on Nasdaq Stockholm](https://nsearchives.nseindia.com/corporate/KALPATPOWR%5F25092026125040%5FSEIntimationPR25092026.pdf) at SEK 46 a share, a valuation of about SEK 2,357 million.  
  - KPIL keeps about 65.9% and receives gross proceeds of about SEK 711.5 million, including the over-allotment option.
  - Linjemontage's net sales were SEK 3,225 million in the year to March 2026.
- **JSW Steel** and **JSW Cement** said [JSW One Platforms filed its draft red herring prospectus](https://nsearchives.nseindia.com/corporate/DivyaMascarenhas%5F25092026002745%5FJSWSLSEIntimationforfilingofDRHPbyJSWOne.pdf) with SEBI and the exchanges for an IPO ([JSW Cement's filing](https://nsearchives.nseindia.com/corporate/JSWCL%5F25092026002858%5FSE%5FIntimation%5Fv1%5F%5F1%5F.pdf)).
- **Prestige Estates**' subsidiary Prestige Hospitality Ventures [is withdrawing its draft prospectus](https://nsearchives.nseindia.com/corporate/PRESTIGE%5F25092026182037%5FEmerald%5F-%5FPEPL%5FDRHP%5FWithdrawal%5FIntimaiton.pdf), filed in April 2025, citing "strategic considerations and uncertain market conditions".
- **Sanofi India**'s promoter Hoechst GmbH [transferred 35,00,000 shares (15.20%)](https://www.bseindia.com/xml-data/corpfiling/AttachLive/5346B991%5F359E%5F4D57%5FA94E%5FE7C6A0E1052C%5F133715.pdf) to Sanofi Healthcare India, another promoter-group company, by block deal on 24 September. The promoter group's total stake stays at 60.40%.
- **Oriana Power** [received the first-tranche consideration](https://nsearchives.nseindia.com/corporate/ORIANA%5F25092026083119%5FOPL%5FREG30Disclosure%5FActisupdate%5F250926.pdf) for selling its 74% stake in a solar-and-battery subsidiary (about 70 MWp with 30 MWh of storage, enterprise value about ₹325 crore) to an Actis group company.
- **Paytm** [raised its stake](https://nsearchives.nseindia.com/corporate/PAYTM%5F25092026164838%5FSEDisclosureUpdateLittleandPMLSep2026sd.pdf) in Little Internet from 62.53% to 77.42% by converting debentures and deposits, and invested ₹100 crore in Paytm Money.
- **GOCL Corporation** said the appellate tribunal [set aside an NCLT order](https://nsearchives.nseindia.com/corporate/GULFCORP%5F25092026181842%5FIntimation%5Fon%5FReceipt%5Fof%5FOrder%5Ffrom%5FNCLAT.pdf) that had held up its merger with Hinduja National Power Corporation, and directed the NCLT to schedule the shareholder meetings by 5 October.
- **Mapro Industries**: Arambhveer Limited [made an open offer](https://www.bseindia.com/xml-data/corpfiling/AttachLive/C2B01B25-C8CA-4DA1-8370-088B0EF2EE68-123823.pdf) for 26% at ₹60.13 a share (up to ₹13.12 crore).
- **Happiest Minds**: as part of ITC Infotech's share purchase agreement of 31 August with founder Ashok Soota, [1,69,11,471 shares (11.1%) were frozen](https://www.bseindia.com/xml-data/corpfiling/AttachLive/10D03C29%5F6E66%5F4BF5%5FB990%5F4FAD4AC1549F%5F170220.pdf) in the depository on 24 September, pending transfer.
- Schemes sanctioned or approved: **Dabur**'s merger of Sesa Care ([NCLT order](https://nsearchives.nseindia.com/corporate/DABURA%5F25092026113223%5FLetter.pdf)), **Kansai Nerolac**'s merger of Nerofix ([NCLT order](https://nsearchives.nseindia.com/corporate/KANSAINER%5F25092026182039%5Fs%5FSEintimationmergerorder.pdf)), and a [merger of two Kotak Mahindra Bank subsidiaries](https://nsearchives.nseindia.com/corporate/KMBLTAB%5F25092026201322%5FKMBLLODRV2250926.pdf).
- **Siemens** said the NCLT [approved a capital reduction](https://nsearchives.nseindia.com/corporate/SiemensRaj%5F25092026192017%5FDisclosure%5F-%5FCapital%5FReduction.pdf) at C&S Electric, cancelling the 0.78% held by other shareholders. Siemens holds 99.22%; C&S becomes wholly owned once the reduction is implemented.
- **Suraj Estate Developers**' subsidiary [completed its purchase](https://nsearchives.nseindia.com/corporate/SURAJ%5F25092026174109%5F25-09-2026-%5FIntimation%5Fto%5Fthe%5FStock%5FExchanges.pdf) of development rights over about 2,941 sq m at Mahim (West), next to its Suraj One Business Bay project, for ₹82.72 crore.
- **Prism Johnson** [approved up to ₹40 crore](https://nsearchives.nseindia.com/corporate/PRSMJOHNSN%5F25092026101234%5FSEIntimationinKUS.pdf) of investment in an SPV set up by a CESC subsidiary. The SPV will build a 49.5 MW captive wind project to supply its Satna cement plant.
- **Adani Power**'s merger of ten wholly owned subsidiaries [became effective](https://nsearchives.nseindia.com/corporate/ADANIPOWER%5F25092026192110%5FAPLSchemebecomingeffective10WOS25092026.pdf) on 25 September, the day after the NCLT's Mumbai bench [sanctioned the last part of it](https://nsearchives.nseindia.com/corporate/ADANIPOWER%5F25092026135512%5FAPLNCLTorderMumbai24092026.pdf). The appointed date is 1 April 2025.
- **Godrej Industries** [invested about ₹335 crore more](https://nsearchives.nseindia.com/corporate/Anupama%5F25092026155247%5FNSEBSEFURTHREINVESTMENTGINVL25092026.pdf) in its wholly owned subsidiary Godrej Investment.
- **Arihant Superstructures**' subsidiary Dwellcons [signed a hotel operating agreement](https://nsearchives.nseindia.com/corporate/ARIHANTSUP%5F25092026123342%5FASL%5FPress%5FRelease%5F25092026.pdf) with ITC Hotels for a 227-room 'Mementos by ITC Hotels' property at its World Villas project in Chowk, Mumbai 3.0.
- **Avio Smart Market Stack** (formerly Bartronics India) [repriced the share issue](https://nsearchives.nseindia.com/corporate/BARTRONICS1%5F25092026142050%5FCorrigendum%5FNotice.pdf) it plans to use to acquire 43.44% of Ampivo Smart Technologies. The issue is now 11,13,02,372 shares at ₹7.73 each (previously ₹7.80), about ₹86 crore.
- Other schemes: the NCLT [passed a first-motion order](https://nsearchives.nseindia.com/corporate/MAGNUM%5F25092026184833%5FIntimation%5FOrder.pdf) on **Magnum Ventures**' plan to demerge its paper business into Magnum Paperz. It also [admitted the second-motion petition](https://nsearchives.nseindia.com/corporate/IHFL%5F25092026184549%5FSCL%5FRegulation%5F30%5FSMP%5FOrder%5F25Sep2026.pdf) for **Sammaan Capital**'s arrangement with Sammaan Finserve.

## Orders and operations

- **Vascon Engineers** [received a ₹660.79 crore order](https://nsearchives.nseindia.com/corporate/VASCONEQ%5F25092026073623%5F24092026LetterofIntent%5FV3%5FChanges%5FSd.pdf), including taxes, from Qualcomm India. The design-and-build contract covers an office block of three basements plus ground and 12 floors in Bengaluru, to be completed within 30 months of site handover.
- **JSW Energy**'s subsidiary [ordered two 800 MW turbine-generators](https://nsearchives.nseindia.com/corporate/KRUTIKAJSWEL%5F25092026150843%5FLettertoBSENSESalboniPhaseII.pdf) from its associate Toshiba JSW for Phase II of the Salboni thermal project in West Bengal. That completes the turbine-generator orders for all 3,200 MW.
- **Ellenbarrie Industrial Gases** [commissioned a 325 tonnes-per-day air separation unit](https://nsearchives.nseindia.com/corporate/ELLENBARRIE2024%5F25092026141614%5FAnnouncement%5FCommissioning%5Fof%5FJai%5FBalaji%5FASU%5FPlant25092026.pdf) at Jai Balaji Industries' plant in Durgapur. It supplies Jai Balaji under a 15-year onsite agreement with a take-or-pay structure; revenue starts this month.
- **Borosil** said India's trade-remedies authority [recommended anti-dumping duty](https://nsearchives.nseindia.com/corporate/BOROSIL%5F25092026205729%5FSE%5FIntimation.pdf) on borosilicate table and kitchen glassware from China for five years.  
  - The finding names Borosil, the sole Indian producer, as the domestic industry.
  - The government has not yet issued the notification that would impose the duty.
- **Rashtriya Chemicals and Fertilizers** [approved a ₹797 crore order](https://nsearchives.nseindia.com/corporate/RCF%5F25092026201517%5FBMoutcome%5Flarsen.pdf), plus taxes, on Larsen & Toubro to revamp an ammonia plant to reduce its specific energy consumption. L&T was the lowest bidder.
- **Blue Cloud Softech**'s US subsidiary [received a statement of work](https://www.bseindia.com/xml-data/corpfiling/AttachLive/75688f3d-f3fd-46e4-819d-fd1517030bf1.pdf) from IBM Cloud for AI infrastructure services at a fixed fee of US$15.5 million (about ₹147 crore).
- **IEX**'s subsidiary Indian Coal Exchange [applied to the Coal Controller Organisation](https://nsearchives.nseindia.com/corporate/IEX%5F25092026162924%5FIEX%5FIntimation%5FICEL%5FLicense%5F25%5F09%5F2026%5Fsigned.pdf) for a licence to operate a coal exchange under the Coal Exchange Rules, 2026.
- **Endurance Technologies** [started commercial production](https://nsearchives.nseindia.com/corporate/ENDURANCE%5F25092026144118%5F2026%5F09%5F25%5F-%5FSE%5Fintimation%5FAuric%5FShendra%5F%5F%5FSOP.pdf) at its aluminium die-casting plant at AURIC Shendra, with initial capacity of 900 tonnes a month, expandable to 1,100.
- **Godawari Power and Ispat** [received an offer of 31.45 acres](https://nsearchives.nseindia.com/corporate/GPIL%5F25092026115404%5FGPILNSEBSECRMAURIC25092026.pdf) at AURIC Bidkin, Maharashtra, for a CRM project.
- **Monolithisch India** said its subsidiary's refractory lining [lasted 32 heats in a customer trial](https://nsearchives.nseindia.com/corporate/MONOLITHISCH%5F25092026143136%5F25092026%5FMIL%5FSGB%5FMILESTONE%5Fsigned.pdf), against what it describes as a peer standard of 22 to 25.
- **Biocon** [received UK MHRA approval](https://nsearchives.nseindia.com/corporate/BIOCON%5F25092026083515%5FCoStatement25092026.pdf) for a new fill-finish unit for its insulin glargine at its Malaysia plant. The European Medicines Agency approved the same line in July.
- **SAIL** and Bharat Coking Coal [signed an MoU](https://nsearchives.nseindia.com/corporate/SAIL%5F25092026164020%5Freg30%5Fmou.pdf) to jointly develop and operate two coking-coal blocks in West Bengal.
- **IOL Chemicals and Pharmaceuticals** [received a European Certificate of Suitability](https://nsearchives.nseindia.com/corporate/IOLCP%5F25092026133118%5FIntimation25.pdf) (CEP) from EDQM for a second manufacturing process for its fenofibrate API.
- **SEDEMAC Mechatronics** [started limited commercial production](https://nsearchives.nseindia.com/corporate/SEDEMAC2007%5F25092026165649%5F20260925-IntimationofstartofProd.pdf) at its third manufacturing facility, near Pune. It will add the remaining processes in stages.

## Capital

- **Natco Pharma** [set the terms of its rights issue](https://nsearchives.nseindia.com/corporate/NATCOPHARM%5F25092026111109%5FOutcomeofBM%5F25092026.pdf): 1,70,58,082 shares at ₹750 each, in the ratio of 2 for every 21 held, raising up to ₹1,279.36 crore.  
  - The record date is 1 October.
  - The issue opens on 12 October and closes on 22 October.
- **Aequs** [approved a preferential issue](https://nsearchives.nseindia.com/corporate/AEQUSLIMITED%5F25092026191447%5FCover%5Fletter.pdf) of up to 2,80,71,690 warrants at ₹231.55 each, about ₹650 crore, to a promoter-group trust.  
  - Half is payable upfront, twice the regulatory minimum.
  - On full conversion the promoter group's stake rises from 59.09% to 60.73%.
- **Aditya Infotech** (CP Plus) [closed a QIP](https://nsearchives.nseindia.com/corporate/CPPLUS%5F25092026213759%5Fstxclosing.pdf) of 43,26,507 shares at ₹3,467 each, 4.97% below the floor price, raising about ₹1,500 crore.
- **Wheels India** [closed a QIP](https://nsearchives.nseindia.com/corporate/WHEELS%5F25092026202656%5FWILReg30Outcome25092026.pdf) of 11,97,318 shares at ₹2,088 each, 4.97% below the floor price, raising about ₹250 crore.
- **PC Jeweller** said it is [now debt-free](https://nsearchives.nseindia.com/corporate/PCJEWELLER%5F25092026165942%5Fupdate250926.pdf), having discharged the outstanding debt of all 14 banks in its lending consortium under its settlement agreement.
- **Allied Blenders and Distillers**' promoter Bina Kishore Chhabria [sold 55,00,000 shares (1.97%)](https://www.bseindia.com/xml-data/corpfiling/AttachLive/BB2F52F0%5FA251%5F4AE3%5FB74C%5F346FDB1BF8B4%5F113214.pdf) in the open market on 23 September, cutting her stake from 58.20% to 56.23%.
- **Urban Company**: investor Bessemer [sold 2,51,51,118 shares](https://www.bseindia.com/xml-data/corpfiling/AttachLive/E0CD56D7%5FDE5F%5F4E5A%5F8912%5F1C41886BB280%5F175241.pdf) between 13 August and 23 September and now holds 5,27,59,566 shares.
- **Jain Irrigation Systems** said it has [repaid all debt falling due up to 30 September](https://nsearchives.nseindia.com/corporate/JISLJALEQS%5F25092026153734%5FSE%5FLetter%5FRegulation%5F30%5FJISL%5F25092026%5F.pdf) ahead of schedule, about ₹246.72 crore since July.
- **Kabra Extrusiontechnik** [received exchange approval in principle](https://nsearchives.nseindia.com/corporate/KABRAEXTRU%5F25092026113426%5FInitmationfinal.pdf) for a preferential issue of 37,60,000 shares at ₹375 each, about ₹141 crore, to promoters and other investors.
- **AGI Infra**'s board [approved a QIP](https://nsearchives.nseindia.com/corporate/AGIINFRA%5F25092026162514%5FoutcomeofBoardMeeting.pdf) of up to ₹275 crore, subject to shareholder approval.
- **Precision Wires India** [allotted ₹150 crore of compulsorily convertible debentures](https://nsearchives.nseindia.com/corporate/PRECWIRE%5F25092026111314%5FOutcome-signed.pdf) with a 12% coupon. ₹80 crore of it went to Anchorage Capital Scheme-III.
- **Dredging Corporation of India** said at its AGM that it is [considering a rights issue of about ₹1,000 crore](https://nsearchives.nseindia.com/corporate/DREDGECORP%5F25092026163328%5F50th%5FAGM%5FPRESS%5FRELEASE.pdf). It has also issued ₹111.48 crore of debentures to Cochin Shipyard.
- **Rama Steel Tubes** [called an EGM](https://nsearchives.nseindia.com/corporate/RAMASTEEL%5F25092026161518%5FSignedIntimationofNoticeofEGM25092026.pdf) for 21 October. Shareholders will vote on issuing up to 53.28 crore shares of ₹1 face value at ₹5 each to non-promoters.
- **Supreme Engineering** [revised its proposed preferential issue](https://nsearchives.nseindia.com/corporate/SUPREMEENG%5F25092026160637%5FIntimation%5Fof%5FCorrigendium%5FNotice%5F.pdf) of up to 28.10 crore shares at ₹2.60\. Ashish Kacholia is listed for 3.20 crore of those shares.
- **Ikoma Technologies** [withdrew its rights-issue application](https://www.bseindia.com/xml-data/corpfiling/AttachLive/be68666f-c5f4-49a4-96cd-499ae551eb54.pdf) to revise the purpose of the issue. It will make a fresh application.
- Bonds:  
  - **Bajaj Housing Finance** [allotted ₹807.82 crore of NCDs](https://nsearchives.nseindia.com/corporate/BHFL%5F25092026121800%5FSE%5Fintimation%5Fallotment%5Funder%5FS34T6%5F1.pdf) at 7.79%, due August 2031.
  - **Sammaan Capital** [allotted ₹750 crore of secured NCDs](https://nsearchives.nseindia.com/corporate/IHFL%5F25092026125046%5FSCL%5FNCD%5FAllotment%5FIntimation%5F25092026.pdf) in three series.
  - **Equitas Small Finance Bank** [raised ₹500 crore of Tier II bonds](https://nsearchives.nseindia.com/corporate/EQUITASBNK%5F25092026150148%5FAllotment.pdf) at 9.95%, due 2036.
  - **Utkarsh Small Finance Bank** [raised ₹300 crore of Tier II bonds](https://nsearchives.nseindia.com/corporate/UTKARSHBANK%5F25092026171116%5FIntimationofallotmentofdebn25092026.pdf) at 11.75% for seven years.
- Ratings:  
  - CARE and CRISIL [rated **Reliance Industries**' new ₹10,000 crore NCDs AAA](https://nsearchives.nseindia.com/corporate/PVIVINMA%5F25092026220844%5FSE%5FCARE%5Fand%5FCRISIL.pdf).
  - ICRA [assigned AAA to a new ₹2,000 crore NCD programme](https://nsearchives.nseindia.com/corporate/PNBHOUSING%5F25092026201645%5FSE%5Fintimation%5FICRA%5FRating%5FPress%5FRelease%5F25092026.pdf) at **PNB Housing Finance**.
  - ICRA [upgraded **Bharat Seats**](https://nsearchives.nseindia.com/corporate/BHARATSEATS%5F25092026130839%5FSE%5FIntimation.pdf) to A+ (Stable) from A.

## Stakes

- **Texmaco Infrastructure**: promoter Zuari International [transferred its entire 1,28,10,900 shares (10.05%)](https://www.bseindia.com/xml-data/corpfiling/AttachLive/B7BF2D25%5F0191%5F4E3E%5F9FEE%5F1A8B69DD7503%5F111527.pdf) to fellow promoter Zuari Industries, by an inter-se transfer between promoters.
- **SRF**: KAMA Realty [acquired 32,00,000 shares (about 1.08%)](https://www.bseindia.com/xml-data/corpfiling/AttachLive/04DE5D11%5F1E7A%5F4D23%5F84E6%5F025BC510F949%5F103249.pdf) from its holding company, KAMA Holdings, in off-market transfers. The filing says there is no change in control.
- **CAMS**: FMR and FIL group entities [sold 1,19,98,217 shares (4.84%)](https://nsearchives.nseindia.com/corporate/CAMS%5F09252026163256%5F53400.zip), cutting their stake from 5.94% to 1.10%.
- **Jamna Auto**: Randeep Singh Jauhar and Pradeep Singh Jauhar each [sold 99,95,000 shares (2.49%)](https://nsearchives.nseindia.com/corporate/JAMNAAUTO%5F09252026142805%5F53373.zip). Their stakes fell to 1.88% and 3.96% respectively ([second disclosure](https://nsearchives.nseindia.com/corporate/JAMNAAUTO29%5F09252026163030%5F53374.zip)).
- **South West Pinnacle Exploration**: Vikas Jain, who held 65.94%, [sold 13,85,838 shares (4.24%)](https://nsearchives.nseindia.com/corporate/SOUTHWEST%5F09252026142931%5F53372.zip) in the open market on 18 August and 10 September.
- **BlueStone Jewellery**: an Accel entity [sold 28,00,000 shares (2.50%)](https://nsearchives.nseindia.com/corporate/BLUESTONE%5F25092026163622%5FIntimation%5Fof%5FSAST.pdf) on 24 September and now holds 5.58%.
- **BlackBuck**: Accel India IV [sold 27,00,000 shares (1.48%)](https://nsearchives.nseindia.com/corporate/BLACKBUCK%5F09252026142638%5F53377.zip) on 11 September, cutting its stake from 7.17% to 5.69%.
- **Ramkrishna Forgings**: promoter Chaitanya Jalan [converted 34,00,000 warrants](https://www.bseindia.com/xml-data/corpfiling/AttachLive/5E731112%5F7488%5F4267%5F9614%5FC5199D9DEF57%5F163405.pdf) into shares (1.83%). The promoter group now holds 40.92%.
- **Sical Logistics**: promoter Pristine Malwa Logistics Park [pledged 1,19,00,000 shares](https://nsearchives.nseindia.com/corporate/SICALLOG%5F25092026172159%5FSUBMISSION.pdf) on 23 September. It holds 5,86,41,903 shares (73.5%).
- **Granules India**: promoter Dr. Krishna Prasad Chigurupati [sold 1,72,00,000 shares (6.94%)](https://nsearchives.nseindia.com/corporate/GRANULES%5F09252026162942%5F53380.zip) in the open market on 11 September, cutting his holding from 31.00% to 24.06%. The disclosure reached the exchange on 25 September, two weeks after the sale.
- **Gabriel India**: promoter Asia Investments was [allotted 1,44,04,204 shares on a preferential basis](https://nsearchives.nseindia.com/corporate/Reg1%5F09252026145159%5F53442.zip) on 11 September, taking the promoter group from 42.67% to 46.98%.
- **Nuvama Wealth Management**: no new shares were pledged, but PAG's 53.12% stake (9,69,60,340 shares), already pledged to its lenders, [now secures US$450 million, up from US$265 million](https://nsearchives.nseindia.com/corporate/NUVAMA%5F09252026152758%5F53361.zip), under an amended facility ([onshore security agent's disclosure](https://nsearchives.nseindia.com/corporate/Project%5F09252026142151%5F53382.zip)).
- **Symbiotec Pharmalab**: three promoter-family trusts [encumbered 47,48,208 shares (7.38%)](https://nsearchives.nseindia.com/corporate/SYMBIOTEC%5F09252026143102%5F53367.zip) on 9 September as security for debentures. The debenture terms also require the promoter group to keep at least 26%.
- **Embassy Developments**: a [new pledge of 5,35,40,000 shares (3.85%)](https://nsearchives.nseindia.com/corporate/EMBDL%5F09252026152840%5F53340.zip) in favour of Catalyst Trusteeship was created on 8 September, taking the shares pledged to it to 8.39%. The filing does not name the pledgor.

## The fine print

- **PB Fintech** (Policybazaar) filed the [transcript of its 24 September investor call](https://nsearchives.nseindia.com/corporate/POLICYBZR%5F25092026141226%5FTrancriptofAnalystCall25092026.pdf) on the IRDAI's draft proposals.  
  - Management said that for general insurance, the impact would leave it with "between one-third to 40% of what we have today", and called it "a very serious impact on revenue". It expects no major impact on the life business.
  - It stressed that these are a draft consultation paper, with implementation proposed from 1 April, and said there will be no impact on FY27.
  - It is looking at cost cuts.
- **Omaxe** [disclosed a SEBI order](https://nsearchives.nseindia.com/corporate/OMAXE%5F25092026180858%5FIntimation%5FOrder%5FPassed%5FSEBI.pdf) dated 24 September concerning alleged non-compliance with minimum public shareholding rules.  
  - The company is restrained from the securities market for three months.
  - Promoters Rohtaas Goel, Sunil Goel and Jai Bhagwan Goel are among those restrained for one year.
  - SEBI imposed penalties of ₹27 lakh each on the company and two group companies, and ₹37 lakh each on the three promoters.
  - The company says it is evaluating legal remedies. Its AGM voting results show the promoter group now holds 74.14%.
- **Agarwal Float Glass India**'s resolution approving related-party transactions for FY2026-27 [was defeated](https://nsearchives.nseindia.com/corporate/AGARWALFLOAT%5F25092026180955%5Fconsolidated%5Ffile.pdf).  
  - The voting results mark the promoter group as interested in the resolution, and no promoter votes were counted on it.
  - Only 2,02,509 votes were cast: 18,009 in favour and 1,84,500, from two shareholders, against (91.10%).
- **Baazar Style Retail**'s shareholders [voted down the re-appointment](https://nsearchives.nseindia.com/corporate/BSRL2024%5F25092026190205%5FSTXFILESigned%5Fcombine%5Fscutniser%5Freport.pdf) of director Rohit Kedia, 77.76% against.  
  - The promoter group itself voted 67.93% of its polled shares against him.
  - The same day, whole-time director Pradeep Kumar Agarwal [resigned](https://nsearchives.nseindia.com/corporate/BSRL2024%5F25092026191211%5Fsigned%5FResignation%5Fof%5FPradeep%5FAgarwal.pdf), citing "personal reasons and other commitments".
- **LG Electronics India** [received a customs show-cause notice](https://nsearchives.nseindia.com/corporate/LGEINDIA%5F25092026123205%5FIntimation%5Funder%5FRegulation%5F30%5F25th%5FSeptember%5F2026.pdf) proposing recovery of ₹153.58 crore of duty.  
  - The notice follows an investigation by the Directorate of Revenue Intelligence, which alleges that royalty payments were left out of the assessable value of certain imports.
  - No penalty has been imposed; the company is preparing its response.
- **Aarti Surfactants** and its CEO and MD Nikhil Desai [received a customs order](https://nsearchives.nseindia.com/corporate/AARTISURF%5F25092026155343%5FAARTISURF.pdf) that reclassified imported goods.  
  - It imposes a ₹1.54 crore penalty on the company and two ₹10 lakh penalties on Mr Desai.
  - It confirms differential duty of about ₹1.54 crore, and appropriates ₹2.25 crore the company had already paid towards duty and interest.
  - Goods worth ₹2.30 crore were confiscated, with an option to redeem them for a ₹25 lakh fine.
- **VAS Infrastructure**, already in insolvency, said Canara Bank, its only secured lender, [rejected the promoter's settlement proposal](https://www.bseindia.com/xml-data/corpfiling/AttachLive/8cb6754d-8cca-464b-b5e9-6d1275031633.pdf) to withdraw the process. The insolvency process continues.
- **IDBI Bank** and **Indian Overseas Bank** received notice of a proposed bank strike on 28–30 September ([IDBI](https://nsearchives.nseindia.com/corporate/MANESHJ%5F25092026135700%5FNoticeofStrike%5F25092026.pdf), [IOB](https://nsearchives.nseindia.com/corporate/IOB%5F25092026155304%5FFINAL%5FWORD.pdf)).
- **Federal Bank**, asked about a media report of a deal with Jana Small Finance Bank, [said](https://nsearchives.nseindia.com/corporate/FEDERALBNK%5F25092026181509%5FNSE%5FResponse%5Fto%5Fclarification%5F250926%5FS.pdf) there is no material event requiring disclosure. It evaluates opportunities in the ordinary course.
- **LIC** said the government [approved the voluntary retirement](https://nsearchives.nseindia.com/corporate/LIC%5FBOARD%5F25092026132658%5FFinal%5FDis%5FCess%5Fof%5FMDDP%5F240926.pdf) of managing director Dinesh Pant.
- **MTNL** [was fined ₹15 lakh by TRAI](https://nsearchives.nseindia.com/corporate/MTNL%5F25092026150929%5FSD%5FSE%5F25092026.pdf) for breaching quality-of-service rules in its wireline broadband service in the quarter to March 2026.
- **Jalan Transolutions** [received notice](https://nsearchives.nseindia.com/corporate/JALAN%5F25092026125159%5Fstx%5Fintimation%5Forder.pdf) of an NCLT insolvency petition filed by Capital Trade Links, alleging "Default in repayment of loan amount". The next hearing is on 28 October.
- **Yaap Digital**'s statutory auditor [resigned with immediate effect](https://nsearchives.nseindia.com/corporate/YAAPDIGITAL%5F25092026173412%5FIntimation%5Fof%5FResignation%5Fof%5FAuditor.pdf), citing other professional commitments.
- Delistings:  
  - **Consolidated Finvest & Holdings** [is asking shareholders to approve](https://nsearchives.nseindia.com/corporate/CONSOFINVT%5F25092026174613%5FIntimation%5Fto%5FExchange%5FPostal%5FBallot%5FNotice.pdf) voluntary delisting from NSE, by postal ballot.
  - **Hitech Corporation** [received in-principle approval](https://nsearchives.nseindia.com/corporate/HITECHCORP%5F25092026180302%5FReg%5F30%5FIn-principal%5Fapproval%5Fof%5FSE.pdf) for its voluntary delisting.
- **Fortis Healthcare**'s promoter Northern TK Venture (IHH) [appealed to the Tokyo High Court](https://nsearchives.nseindia.com/corporate/FORTIS%5F25092026135140%5FFINAL.pdf) on 24 September against the Tokyo District Court's 10 September judgment in its case against Daiichi Sankyo.
- **BGR Energy Systems** [signed a debt-restructuring proposal](https://nsearchives.nseindia.com/corporate/BGRENERGY%5F25092026185210%5FRestructuringProposalIntimationsigned.pdf) sanctioned by IDRCL, covering debt its banks had assigned to NARCL.
- GST show-cause notices, all for FY2022-23 unless stated:  
  - **Sunteck Realty**: [₹59.44 crore](https://nsearchives.nseindia.com/corporate/SUNTECK%5F25092026181329%5FSRLsigned.pdf), including interest and penalty, on its purchase of development rights (TDR). The company says the notice has no merit.
  - **Everest Industries**: [₹13.34 crore](https://nsearchives.nseindia.com/corporate/EVERESTINDUSTRIES%5F25092026163520%5FIntimationGSTSCNLW.pdf).
  - **Rane Holdings**' subsidiary Rane Steering Systems: [₹10.07 crore](https://nsearchives.nseindia.com/corporate/RHLCS%5F25092026145729%5FRHL%5FRSSL%5FGST%5FSCN%5F25092026%5FSD.pdf) for FY23 and FY24, including penalty.
  - **NGL Fine-Chem**: [₹6.19 crore](https://nsearchives.nseindia.com/corporate/NGL2022%5F25092026172447%5FFinal%5FReg%5F30%5FSCN%5F25092026%5FSigned.pdf).
- **Urja Global**'s CFO [resigned](https://nsearchives.nseindia.com/corporate/URJA%5F25092026145027%5FResignation%5Fof%5FCFO%5FMr%5FVijay%5FKumar%5FSinghal.pdf) with immediate effect.

## Dates to note

- 28–30 Sep: proposed bank strike (IDBI Bank, IOB).
- 1 Oct: record dates for **Natco Pharma**'s rights issue and for **R Systems**' [second interim dividend of ₹8 a share](https://nsearchives.nseindia.com/corporate/RSYSTEMS2%5F25092026195009%5FOutcome%5Fof%5Fthe%5FBoard%5FMeeting%5F.pdf), which will be paid by 24 October.
- 1–30 Oct: e-voting on **Consolidated Finvest**'s NSE delisting.
- 5 Oct: deadline for the NCLT to schedule **GOCL**'s merger meetings.
- 8 Oct: **Bhagyanagar India** [record date](https://nsearchives.nseindia.com/corporate/BHAGYANGR%5F25092026153009%5FOutcome%5Fof%5FBoard%5FMeeting.pdf) for Tieramet shares, one for each share held.
- 12–22 Oct: **Natco Pharma** rights issue open.
- 21 Oct: **Rama Steel Tubes** EGM on its preferential issue.
- 22 Oct: **NGL Fine-Chem**'s GST hearing.
- 28 Oct: next hearing on the **Jalan Transolutions** insolvency petition.
- 16 Nov: next NCLT hearing on **Sammaan Capital**'s scheme.

## What we're not reporting

BSE downloads remain paused, so BSE-only filings are reported only where we could read the document itself. The rest of the day was mostly:

- trading-window closures ahead of Q2 results;
- AGM results and routine re-appointments;
- GST show-cause notices without a demand large enough to matter;
- analyst-meet intimations;
- routine SAST disclosures of small promoter purchases and sales.

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> Educational research, not investment advice. Every figure above is drawn from the named company's own filing dated 25 September 2026 (or the date stated) and checked against the source; where a filing disclosed no value, none is stated. No buy/sell recommendations, no price targets. Moat & Margin is not a SEBI-registered Research Analyst or Investment Adviser.