Daily Filing Digest — Friday, 25 Sep 2026

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 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

Deals

• Signatureglobal added a 194.22-acre parcel 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 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 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 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 with SEBI and the exchanges for an IPO (JSW Cement's filing).
• Prestige Estates' subsidiary Prestige Hospitality Ventures is withdrawing its draft prospectus, filed in April 2025, citing "strategic considerations and uncertain market conditions".
• Sanofi India's promoter Hoechst GmbH transferred 35,00,000 shares (15.20%) 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 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 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 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 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 in the depository on 24 September, pending transfer.
• Schemes sanctioned or approved: Dabur's merger of Sesa Care (NCLT order), Kansai Nerolac's merger of Nerofix (NCLT order), and a merger of two Kotak Mahindra Bank subsidiaries.
• Siemens said the NCLT approved a capital reduction 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 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 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 on 25 September, the day after the NCLT's Mumbai bench sanctioned the last part of it. The appointed date is 1 April 2025.
• Godrej Industries invested about ₹335 crore more in its wholly owned subsidiary Godrej Investment.
• Arihant Superstructures' subsidiary Dwellcons signed a hotel operating agreement 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 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 on Magnum Ventures' plan to demerge its paper business into Magnum Paperz. It also admitted the second-motion petition for Sammaan Capital's arrangement with Sammaan Finserve.

Orders and operations

• Vascon Engineers received a ₹660.79 crore order, 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 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 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 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, 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 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 for a licence to operate a coal exchange under the Coal Exchange Rules, 2026.
• Endurance Technologies started commercial production 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 at AURIC Bidkin, Maharashtra, for a CRM project.
• Monolithisch India said its subsidiary's refractory lining lasted 32 heats in a customer trial, against what it describes as a peer standard of 22 to 25.
• Biocon received UK MHRA approval 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 to jointly develop and operate two coking-coal blocks in West Bengal.
• IOL Chemicals and Pharmaceuticals received a European Certificate of Suitability (CEP) from EDQM for a second manufacturing process for its fenofibrate API.
• SEDEMAC Mechatronics started limited commercial production 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: 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 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 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 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, 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%) 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 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 ahead of schedule, about ₹246.72 crore since July.
• Kabra Extrusiontechnik received exchange approval in principle 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 of up to ₹275 crore, subject to shareholder approval.
• Precision Wires India allotted ₹150 crore of compulsorily convertible debentures 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. It has also issued ₹111.48 crore of debentures to Cochin Shipyard.
• Rama Steel Tubes called an EGM 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 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 to revise the purpose of the issue. It will make a fresh application.
• Bonds:
  • Bajaj Housing Finance allotted ₹807.82 crore of NCDs at 7.79%, due August 2031.
  • Sammaan Capital allotted ₹750 crore of secured NCDs in three series.
  • Equitas Small Finance Bank raised ₹500 crore of Tier II bonds at 9.95%, due 2036.
  • Utkarsh Small Finance Bank raised ₹300 crore of Tier II bonds at 11.75% for seven years.
• Ratings:
  • CARE and CRISIL rated Reliance Industries' new ₹10,000 crore NCDs AAA.
  • ICRA assigned AAA to a new ₹2,000 crore NCD programme at PNB Housing Finance.
  • ICRA upgraded Bharat Seats to A+ (Stable) from A.

Stakes

• Texmaco Infrastructure: promoter Zuari International transferred its entire 1,28,10,900 shares (10.05%) to fellow promoter Zuari Industries, by an inter-se transfer between promoters.
• SRF: KAMA Realty acquired 32,00,000 shares (about 1.08%) 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%), 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%). Their stakes fell to 1.88% and 3.96% respectively (second disclosure).
• South West Pinnacle Exploration: Vikas Jain, who held 65.94%, sold 13,85,838 shares (4.24%) in the open market on 18 August and 10 September.
• BlueStone Jewellery: an Accel entity sold 28,00,000 shares (2.50%) on 24 September and now holds 5.58%.
• BlackBuck: Accel India IV sold 27,00,000 shares (1.48%) on 11 September, cutting its stake from 7.17% to 5.69%.
• Ramkrishna Forgings: promoter Chaitanya Jalan converted 34,00,000 warrants into shares (1.83%). The promoter group now holds 40.92%.
• Sical Logistics: promoter Pristine Malwa Logistics Park pledged 1,19,00,000 shares 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%) 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 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, under an amended facility (onshore security agent's disclosure).
• Symbiotec Pharmalab: three promoter-family trusts encumbered 47,48,208 shares (7.38%) 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%) 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 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 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.
  • 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 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, citing "personal reasons and other commitments".
• LG Electronics India received a customs show-cause notice 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 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 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, IOB).
• Federal Bank, asked about a media report of a deal with Jana Small Finance Bank, said there is no material event requiring disclosure. It evaluates opportunities in the ordinary course.
• LIC said the government approved the voluntary retirement of managing director Dinesh Pant.
• MTNL was fined ₹15 lakh by TRAI for breaching quality-of-service rules in its wireline broadband service in the quarter to March 2026.
• Jalan Transolutions received notice 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, citing other professional commitments.
• Delistings:
  • Consolidated Finvest & Holdings is asking shareholders to approve voluntary delisting from NSE, by postal ballot.
  • Hitech Corporation received in-principle approval for its voluntary delisting.
• Fortis Healthcare's promoter Northern TK Venture (IHH) appealed to the Tokyo High Court 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 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, including interest and penalty, on its purchase of development rights (TDR). The company says the notice has no merit.
  • Everest Industries: ₹13.34 crore.
  • Rane Holdings' subsidiary Rane Steering Systems: ₹10.07 crore for FY23 and FY24, including penalty.
  • NGL Fine-Chem: ₹6.19 crore.
• Urja Global's CFO resigned 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, 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 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.

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.