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IIFL Capital Services' Subsidiaries Face Tax Demand Under Income Tax Act IIFL Capital Services Limited, through its wholly owned subsidiaries, IIFL Facilities Services Limited and IIFL Management Services Limited, have received tax assessment orders from the Income Tax Authority. The orders, dated April 22, 2026, concern tax demands raised under Section 158BC(1)(c) of the Income Tax Act, 1961.The assessment covers a Block Period from April 01, 2018 to February 03, 2025, for both subsidiary entities.The assessment orders were issued by the Joint Commissioner of Income tax (OSD), Central Circle - 4(4), Mumbai.The financial implications of the tax demand vary across the two subsidiaries, with the following details provided in the...

SEBI Imposes ₹5 Lakh Penalty, Ruling Out 'Artificial Volume' Manipulations in Stock Options The Securities and Exchange Board of India (SEBI) has adjudicated against an individual for alleged manipulative trading practices in the illiquid stock options segment at the Bombay Stock Exchange (BSE). The Adjudicating Officer concluded that the trading activities amounted to non-genuine trades, resulting in the creation of artificial market volume.SEBI ultimately imposed a penalty of ₹ 5,00,000/- on Sweta Agarwal for violating key provisions of the Prevention of Fraudulent and Unfair Trade Practices (PFUTP) Regulations, 2003.Understanding the Alleged Manipulative Activity The inquiry focused on trading conducted by Ms. Agarwal in the...

Rolex Rings Ltd Board Approves Buyback of Equity Shares up to ₹ 180 Crores Rolex Rings Ltd has approved the buyback of equity shares, a decision made by the Board of Directors during a meeting held on April 23, 2026. The company intends to acquire shares through a tender offer mechanism.The board approved the proposal to buy back equity shares for an amount not exceeding ₹ 180 Crores (Rupees One Hundred Eighty Crores only). The purchase will be executed at a buyback price of ₹ 180 (Rupees One Hundred Eighty only) per Equity Share, payable in cash.The buyback involves the purchase of 1,00,00,000 fully paid-up equity shares of the company, which represents up to 3.67% of the total number of Equity Shares in the existing total paid-up...

Leela Palaces Hotels & Resorts Ltd Board Meeting Scheduled to Approve Financial Results for FY2026 Leela Palaces Hotels & Resorts Ltd, which was previously known as Schloss Bangalore Private Limited and Schloss Bangalore Limited, has announced that its Board of Directors is scheduled to meet to approve the company’s financial performance for the fiscal year ending March 31, 2026.The Board Meeting is set to take place on Tuesday, April 28, 2026. The primary objective of the meeting is to consider and approve the Audited Standalone and Consolidated Financial Results of the Company for the Quarter and Year ended March 31, 2026.In line with the declaration of these financial results, the Company also notified details regarding a...

Force Motors Acquires Veera Tanneries Private Limited, Forms Wholly Owned Subsidiary Force Motors Limited announced the execution of a Share Purchase Agreement, completing the acquisition of Veera Tanneries Private Limited (VTPL). The agreement, finalized on April 23, 2026, saw the Company acquire the entire shareholding of VTPL.The transaction details indicate that the total consideration paid for the purchase of VTPL's entire shareholding was Rs. 161,96,25,729.This acquisition solidifies VTPL's position within Force Motors Limited's operational structure. Following the agreement, VTPL has become a Wholly Owned Subsidiary of Force Motors Limited.The update on the acquisition builds upon previous intimations provided by the...

Krystal Integrated Services' Associate Company Signs 25-Year Solar Power Purchase Agreement Krystal Integrated Services Limited (KISL), formerly known as Krystal Integrated Services Private Limited, reports that its associate company, Advait Krystal Solar Energy SPV Private Limited (AKSESPL), has executed a major Power Purchase Agreement (PPA). The agreement was signed with key government bodies in Mumbai.The PPA involves the Directorate of Medical Education & Research, Mumbai, and the Directorate of Ayush (M.S) Medical Education & Drug Department, Mumbai. The collaboration aims to power various government hospitals and medical colleges in Maharashtra, India.The core purpose of the agreement is the provision of services for...

Anzen India Energy Yield Plus Trust to Acquire 100% Stake in SEPL Energy Private Limited Anzen India Energy Yield Plus Trust (Anzen) has finalized the execution of a Securities Purchase Agreement for the acquisition of 100% shareholding and other securities/exposures of SEPL Energy Private Limited (SEPL) from Edelweiss Infrastructure Yield Plus.The agreement, executed on April 23, 2026, details the acquisition of SEPL, an investee company of Edelweiss Infrastructure Yield Plus, which currently serves as the project manager for all Special Purpose Vehicles (SPVs) associated with Anzen. The acquisition aims to consolidate the project manager entity under the Investment Trust (InvIT), facilitating efficient asset management aligned with...

Oneclick Logistics Acquires Stake in Veesham Traders LLC, Boosting Global Market Access Oneclick Logistics India Limited recently finalized the acquisition of equity shares in Veesham Traders LLC. The investment aims to enhance the company's global market presence, access economies of scale, and strengthen its overall market competitiveness.The transaction, which was completed on April 22, 2026, involved the allotment of 12 equity shares of Veesham Traders LLC. The total value of this acquisition, structured as a cash consideration, aggregated to AED 32,44,674.22. With this investment, Oneclick Logistics India Limited acquired a 3.43% stake in Veesham Traders LLC.Veesham Traders LLC is characterized as a general trading company...

BlueStone Reports 49% YoY Revenue Growth in Q4 FY26 Amid Strong Omni-channel Performance BlueStone Jewellery and Lifestyle Limited announced strong operational and financial performance for the fourth quarter of fiscal year 2026 (Q4 FY26). The company reported a 49% Year-on-Year (YoY) growth in retail sales revenue, reaching INR 6,877mn. This quarterly growth was underpinned by the company's expanding category presence, with a continued focus on the entry-level market segment.Management noted that the Q4 performance validated the strength of the underlying omni-channel business model and persistent consumer demand for its design-driven product portfolio. The operating margin for the quarter stood at 7.4%, reflecting a significant...

Pace Digitek Secures OEM Exclusivity Agreement with NEC XON for African Markets Pace Digitek Ltd announced the execution of an Original Equipment Manufacturer Exclusivity Agreement with NEC XON Systems Proprietary Limited. The deal grants NEC XON exclusive rights to market, distribute, and sell Pace Digitek's energy products across several defined African territories.The agreement was finalized on April 22, 2026, establishing NEC XON as the exclusive partner for the company's product line, which includes Battery Energy Storage Systems (BESS) and various other related energy solutions. The exclusive geographical scope covers South Africa, Botswana, Mozambique, Namibia, and Mauritius.In terms of commercial arrangements, the agreement...

Equitas Small Finance Bank Announces Re-appointment of Managing Director and CEO Equitas Small Finance Bank Limited has announced the re-appointment of Mr. Vasudevan P N as its Managing Director and Chief Executive Officer.The bank confirmed that the Reserve Bank of India (RBI) accorded its approval for Mr. Vasudevan P N, bearing DIN:01550885, to retain the role. This re-appointment is set for a period of three years, effective from July 23, 2026.The approval was granted by the RBI vide its letter dated April 23, 2026.EQUITASBNK Stock Price Movement Today, Equitas Small Finance Bank Limited shares edged higher to close at ₹65.95, marking a solid 1.33% gain for the session. The equity experienced robust trading volume, settling...

IIFL Finance Ltd. Board Meeting Scheduled for April 29, 2026; Funds Raising and Financial Results on Agenda IIFL Finance Ltd. announced that its Board of Directors meeting is scheduled for Wednesday, April 29, 2026. The meeting is set to consider and approve several material corporate matters, including the release of financial results for the fiscal year 2026 and plans for raising new capital.The board agenda includes three key items:Financial Results: Consideration and approval of the audited Consolidated and Standalone Financial Results for the quarter and year ended March 31, 2026. Capital Raising: Discussion regarding the raising of funds through a Private Placement. This involves the issuance of Non-Convertible Securities in...

Apcotex Industries Completes Acquisition of 5.12% Stake in Opera Vayu (Narmada) Private Limited Apcotex Industries Ltd has announced the completion of its acquisition of equity shares in Opera Vayu (Narmada) Private Limited. The transaction was finalized on April 22, 2026, solidifying the company’s interest in the power generation sector.The acquisition was part of a broader initiative to establish a Power Purchase Agreement (PPA) and Share Subscription Cum Shareholders Agreement (SSSHA) with the power producer. Apcotex Industries has acquired a total of 33,75,000 equity shares, amounting to a 5.12% stake in Opera Vayu (Narmada) Private Limited.The total consideration paid for the shares was INR 3,37,50,000/- (Rupees Three Crore...

String Metaverse Ltd Completes Promoter Offer for Sale, Adjusting Shareholding String Metaverse Ltd reported the successful completion of an Offer for Sale (OFS) of equity shares by its Promoter Group, divesting a total of 38,10,000 shares through the stock exchange mechanism.The divestment occurred during the OFS period spanning April 21, 2026, to April 22, 2026. The total shares sold were 38,10,000 equity shares, each having a face value of ₹10/-. This sale represented 3.27% of the Company's total issued and paid-up equity share capital.The share sales were executed by the following promoter group entities:Promoter Group / Entity Shares SoldSpacenet Enterprises India Ltd. 30,00,000Y. Venkata Subba Rao 5,00,000Lanka...

Choice International Limited Approves Financial Results for FY2026, Details Investments and Corporate Changes Choice International Limited announced on April 23, 2026, that its Board of Directors approved the Audited Standalone and Consolidated Financial Results for the Quarter and Financial Year ended March 31, 2026, along with the accompanying Auditor's Report.Financial Performance Highlights The audited consolidated financial results show significant revenue and profit figures for the year ended March 31, 2026, compared to the previous year.The financial results for the quarter and year ended March 31, 2026, are detailed below:Statement of Audited Consolidated Financial Results (Rs. In Lakhs)Metric Quarter ended March 31...

Choice International Reports Strong FY26 Results with 24.18% Revenue Growth Choice International Limited (BSE: 531358, NSE: CHOICEIN) has announced its financial results for the quarter and full year ending March 31, 2026. The financial services company reported significant year-over-year growth across multiple segments, marking a strong close to the fiscal year.Key Financial Performance Highlights The company reported Total Revenue of Rs. 1,145 Cr for the full year 2026, representing a 24.18% increase year-over-year. Profit After Tax (PAT) saw a substantial rise, reaching Rs. 238 Cr, a 46.21% jump compared to the previous year.Financial figures for the quarters and full year are detailed below:Particulars (Rs. Cr) Q4 FY26 Q4...

SPML Infra Limited Announces Major Capital Raise and Expansion Plan SPML Infra Limited has announced significant capital structuring decisions, following the Board of Directors' approval to execute a series of preferential issues and increase capital expenditure for major infrastructure expansion.The Board approved the issuance of securities through three distinct tranches: a preferential issue to non-promoter investors, the issuance of warrants, and a preferential issue via the conversion of loans with a corporate entity.Capital Issuance Details The company approved the following equity and warrant allotments:1. Preferential Issue to Non-Promoters: The company approved the issuance of up to 3,09,141 Equity Shares. These shares...

Aequs Limited Approves Amalgamation of Three Wholly Owned Subsidiaries Aequs Limited, the holding company, announced the approval of a Scheme of Amalgamation involving three of its wholly owned subsidiaries. The Board of Directors of Aequs Limited approved the scheme during a meeting held on Thursday, April 23, 2026.Under the provisions of Section 233 of the Companies Act, 2013, the Scheme of Amalgamation encompasses AeroStructures Manufacturing India Private Limited, Aequs Engineered Plastics Private Limited, and Aequs Force Consumer Products Private Limited. The amalgamation aims to merge these three subsidiaries with Aequs Limited, the parent company.The management proposed the merger to combine the various businesses and...

NCLT Directs Meeting for DiGiSPICE in Proposed Scheme of Amalgamation The National Company Law Tribunal (NCLT) passed a key order regarding a proposed Scheme of Amalgamation involving DiGiSPICE Technologies Limited and two other entities: Spice Money Limited, E-Arth Travel Solutions Private Limited, and Vikasni Fintech Private Limited. The Tribunal directed DiGiSPICE to convene a meeting of its equity shareholders through Video Conferencing or other Audio Visual Means to consider the merger scheme.The application concerned a joint effort to merge the four companies, aiming to streamline ownership and business operations and simplify the corporate structure.Amalgamation Details and Corporate Rationale The involved entities are...

Aditya Birla Fashion and Retail Ltd: Update on CRISIL Ratings for Debt Facilities and Instruments Aditya Birla Fashion and Retail Ltd (ABFRL) received multiple updates regarding its debt instruments from CRISIL Ratings Limited. The ratings actions covered various facilities, including bank loans, commercial paper, and non-convertible debentures (NCDs), detailing both reaffirmations and withdrawals of ratings.In several dispatches, CRISIL Ratings reaffirmed the ratings on certain key instruments, noting that securities with these ratings are considered to carry very low credit risk and a high degree of safety regarding timely servicing of financial obligations.Bank Loan Facilities Rating Actions The ratings review for bank loan...