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Excel Realty to Rename as Landsmill Green; Authorized Capital to Rise 15x to ₹7,500 Crore
Excel Realty N Infra Limited has announced a massive increase in its authorized share capital from ₹500 crore to ₹7,500 crore, indicating potential large-scale equity expansion. The company is also rebranding to 'Landsmill Green Limited,' suggesting a strategic shift in business focus. Furthermore, the board approved a borrowing limit of ₹500 crore and increased investment limits for foreign investors (FIIs/FPIs/NRIs). These significant structural changes are subject to shareholder approval via postal ballot.
Key Highlights
Authorized share capital increased 15-fold from ₹500 crore to ₹7,500 crore (75 billion shares of ₹1 each)
Company name to be changed from Excel Realty N Infra Limited to Landsmill Green Limited
New borrowing and asset mortgage limits approved up to ₹500 crore
Appointment of Ms. Runel Saxena as Additional Non-Executive Independent Director for a 5-year term
Increased investment limits for FIIs, FPIs, and NRIs to facilitate broader foreign ownership
💼 Action for Investors
Investors should closely monitor the company's next steps regarding the massive capital increase, as it likely precedes a significant fundraise or acquisition. The rebranding to 'Landsmill Green' suggests a pivot that requires further clarity on the new business model.
Ansal Properties: CoC Approves CIRP Expenses and Fees for Fernhill Project
Ansal Properties and Infrastructure Limited (APIL) has announced the voting results of the 45th Committee of Creditors (CoC) meeting for its Fernhill Project in Gurugram. The CoC ratified and approved all expenses incurred during the Corporate Insolvency Resolution Process (CIRP) up to November 30, 2025. Furthermore, the creditors approved the fees payable to the Authorized Representative for homebuyers. This follows a project-wise insolvency approach mandated by the NCLAT, while other projects like Serene Residency have already seen resolution plan approvals.
Key Highlights
CoC approved all CIRP-related expenses incurred for the Fernhill Project up to November 30, 2025
Ratified the fee structure for Ms. Aakriti Sood, the Authorized Representative for the homebuyer class of creditors
The Fernhill Project is being managed by Resolution Professional Jalesh Kumar Grover under a project-specific insolvency mandate
The company noted that the resolution plan for its Serene Residency project was previously approved by NCLT on October 6, 2025
💼 Action for Investors
Investors should remain extremely cautious as the company is under active insolvency proceedings which typically result in significant equity dilution or delisting. Monitor the progress of the Fernhill Project's resolution plan to gauge the company's ability to settle liabilities.
Emami Realty Shareholders Approve Material Related Party Transactions via Postal Ballot
Emami Realty Limited has announced the results of its postal ballot, where shareholders approved two key ordinary resolutions regarding material related party transactions (RPTs). The resolutions involve transactions with Orbit Projects Private Limited and Swanhousing & Infra Private Limited that exceed standard materiality thresholds. In compliance with SEBI regulations, interested promoter group votes representing 28,682,567 shares were excluded from the count. The resolutions passed with approximately 98.37% of the valid public votes cast in favor.
Key Highlights
Approval of material related party transactions with Orbit Projects Private Limited and Swanhousing & Infra Private Limited.
Promoter group votes totaling 28,682,567 shares were excluded from the tally as they were interested parties.
Public non-institutional shareholders cast 135,945 votes, with 133,725 votes (98.37%) in favor.
Only 2,220 votes (1.63%) were cast against the resolutions by public shareholders.
The voting process was conducted via electronic means from November 21 to December 20, 2025.
💼 Action for Investors
Investors should monitor future financial disclosures to ensure these related party transactions are conducted at arm's length and do not negatively impact minority interest. No immediate portfolio action is required as this is a standard regulatory approval for operational continuity.
Birla Corp Re-convenes Adjourned 105th AGM to Vote on New Articles of Association
Birla Corporation Limited successfully conducted its adjourned 105th Annual General Meeting on December 22, 2025, to address the pending adoption of a new set of Articles of Association. The meeting was previously delayed due to a court injunction, which has since been stayed by the Additional District & Sessions Judge. A total of 477 members attended the meeting, and remote e-voting was conducted between December 19 and December 21, 2025. The final voting results are expected to be disclosed within two working days.
Key Highlights
Adjourned 105th AGM re-convened on Dec 22, 2025, specifically for Item No. 5 regarding new Articles of Association.
The meeting followed a stay order dated Nov 21, 2025, which lifted a previous injunction against the vote.
Remote e-voting was open for shareholders from Dec 19 (9:00 AM) to Dec 21 (5:00 PM), 2025.
A total of 477 members were present in person or through proxy at the Kolkata venue.
Consolidated voting results and the Scrutinizer's Report will be announced within 2 working days.
💼 Action for Investors
Investors should monitor the upcoming disclosure of the voting results to confirm the adoption of the new Articles of Association. The resolution of this legal hurdle allows the company to move forward with its updated governance framework.
Agro Phos Q2 FY26 Net Profit Jumps to ₹2.01 Cr; H1 Revenue Up 44% YoY
Agro Phos India Limited reported a strong financial performance for the quarter ended September 30, 2025, with revenue from operations growing 27% YoY to ₹40.08 crore. Net profit for the quarter surged to ₹2.01 crore, a significant improvement from ₹0.44 crore in the same period last year. For the first half of FY26 (H1), the company's net profit reached ₹6.30 crore compared to a mere ₹0.25 crore in H1 FY25. This specific filing was a resubmission of results in a machine-readable format as per NSE requirements.
Key Highlights
Revenue from operations for Q2 FY26 increased to ₹4,007.72 lakhs from ₹3,150.45 lakhs in Q2 FY25.
Net profit for the quarter stood at ₹201.38 lakhs, up from ₹44.15 lakhs in the previous year's corresponding quarter.
H1 FY26 revenue reached ₹7,987.95 lakhs, marking a 44% growth over H1 FY25 revenue of ₹5,542.08 lakhs.
H1 FY26 Net Profit saw a massive turnaround to ₹630.38 lakhs compared to ₹25.01 lakhs in H1 FY25.
Basic EPS for the half-year period improved significantly to ₹3.11 from ₹0.12 YoY.
💼 Action for Investors
Investors should take note of the substantial year-on-year growth in both revenue and profitability, indicating a strong operational recovery. However, monitor the sequential (QoQ) decline in profit from Q1 to Q2 to understand potential margin pressures or seasonality.
ARSS Infrastructure Completes Allotment of 7.8 Crore Equity Shares Under Resolution Plan
ARSS Infrastructure Projects Limited has finalized the allotment of 7.8 crore equity shares as part of its NCLT-approved Resolution Plan. The Successful Resolution Applicant, Ocean Capital Market Limited (OCML), and its nominated AIF received a total of 7.65 crore shares, while Assenting Financial Creditors were allotted 15 lakh shares. This marks the completion of a restructuring process initiated under the Insolvency and Bankruptcy Code in 2021. The company recently increased its authorized share capital to accommodate this significant equity issuance.
Key Highlights
Total allotment of 7.8 crore equity shares completed on December 22, 2025, under the IBC Resolution Plan.
Ocean Capital Market Limited (SRA) and its nominated AIF received 7.65 crore shares in multiple tranches.
Assenting Financial Creditors were allotted 15,00,000 equity shares on October 13, 2025.
The company increased its authorized share capital on December 9, 2025, to facilitate the final allotment of 5.01 crore shares.
Resolution plan follows the NCLT order dated August 29, 2025, marking a change in control and capital structure.
💼 Action for Investors
Investors should note the massive equity dilution and the change in promoter control to Ocean Capital Market Limited. Monitor the company's operational turnaround and debt levels under the new management before making fresh commitments.
Saregama to Acquire 28-49.9% Stake in Bhansali Productions for ₹325 Crores
Saregama India Limited has announced a strategic investment of ₹325 crores in Bhansali Productions via Compulsorily Convertible Preference Shares (CCPS), targeting a 28% to 49.9% stake by 2028. The deal grants Saregama exclusive rights to all future film music from the production house, which is expected to constitute 30-40% of its Hindi film music content. To fund this and optimize operations, Saregama will exit its own film production business, releasing ₹150-175 crores in working capital. The investment is expected to be EPS accretive by FY27 and involves no debt.
Key Highlights
Initial investment of ₹325 crores for a significant minority stake, with an option to increase to 51% after March 2030.
Secures exclusive music rights for all future Bhansali films, eliminating competitive bidding and controlling acquisition costs.
Bhansali Productions reported strong FY25 financials with ₹304 Cr revenue and ₹45 Cr PAT.
Saregama to wind down its own film production over 3-5 quarters, freeing up ₹150-175 Cr in capital.
Sanjay Leela Bhansali is creatively locked to the production house as part of the deal terms.
💼 Action for Investors
Investors should view this as a strategic positive that secures a premium content pipeline and improves margin profiles by avoiding bidding wars. Monitor the progress of upcoming high-profile releases like 'Love & War' to gauge the immediate impact on the music segment.
Poddar Housing Receives NSE Show Cause Notice Regarding Delisting Committee Meeting
Poddar Housing and Development Limited held a board meeting on December 22, 2025, to address several critical regulatory and operational matters. The company disclosed receipt of a Show Cause Notice from the NSE regarding a meeting with the Delisting Committee, signaling significant risk to its listing status. Additionally, the board discussed the payment of SOP fines to stock exchanges and reviewed the current business position of ongoing projects. These developments reflect ongoing compliance challenges and regulatory pressure on the company.
Key Highlights
Received a Show Cause Notice from NSE regarding a meeting with the Delisting Committee.
Discussed the payment of Standard Operating Procedure (SOP) fines to stock exchanges.
Reviewed the current business position and status of ongoing projects by the Managing Director.
Evaluated the composition of the Board and its various Committees.
Addressed compliance items for the quarter ended September 30, 2025.
💼 Action for Investors
Investors should exercise extreme caution as the mention of a Delisting Committee meeting and SOP fines indicates high regulatory risk. It is advisable to wait for clarity on the NSE's decision before making any new investment commitments.
BLS International Q2 FY26 Net Profit Rises 27% YoY to ₹185.7 Cr; Revenue Up 48%
BLS International reported a strong performance for Q2 FY26, with consolidated revenue from operations growing 48.8% YoY to ₹736.6 crore. Net profit for the quarter increased by 27.4% YoY to ₹185.7 crore, driven by robust growth in visa and consular services. The company successfully integrated several recent acquisitions, including Citizenship Invest and Aadifidelis Solutions, which significantly contributed to the top-line growth. The balance sheet remains strong with total assets increasing to ₹3,338.7 crore as of September 2025.
Key Highlights
Consolidated Revenue from operations grew 48.8% YoY to ₹73,662.83 lakhs in Q2 FY26.
Net Profit for the quarter stood at ₹18,570.12 lakhs, up from ₹14,573.33 lakhs in the previous year's corresponding quarter.
Basic EPS increased to ₹4.26 in Q2 FY26 compared to ₹3.36 in Q2 FY25.
Total Assets grew to ₹3,33,871.70 lakhs as of September 30, 2025, compared to ₹2,83,702.38 lakhs in March 2025.
Unutilized IPO proceeds from subsidiary BLS E-Services Ltd remain substantial at ₹15,878.95 lakhs for future growth initiatives.
💼 Action for Investors
Investors should note the strong double-digit growth in both revenue and profitability, indicating successful execution of the company's inorganic growth strategy. The stock continues to be a strong play in the niche visa outsourcing and digital services sector.
Banco Products Subsidiary NRF to Open 11,465 m2 Warehouse in Italy
Banco Products' wholly-owned subsidiary, NRF Holding B.V., has announced the opening of a new 11,465 m2 warehouse and technical center in Quarrata, Italy. This facility replaces a smaller site in Prato, resulting in a net capacity increase of approximately 9,000 m2 to support growing demand in the automotive aftermarket. The expansion follows a recent announcement of an 18,613 m2 warehouse in Romania, indicating a broad scaling of European operations. The new Italian facility is expected to be operational by Q1 2026 and will serve both local and surrounding international markets.
Key Highlights
New 11,465 m2 warehouse in Italy to include office spaces and a technical center for customer training.
Represents a significant capacity increase of 9,000 m2 compared to the existing warehouse in Prato.
Supports a rapidly growing product portfolio currently consisting of approximately 15,000 references.
Planned for opening in Q1 2026 with no expected disruptions to regular operations during the transition.
Strategic move to improve operational efficiency and reduce transport distances for a more effective supply chain.
💼 Action for Investors
Investors should monitor the progress of these European expansions as they signal strong demand and potential for revenue growth in the international automotive aftermarket. The stock remains a positive watch given the company's aggressive capacity building in key export markets.
Visa Steel Allots 1.35 Cr Equity Shares to Promoters; Raises Rs 40.50 Cr
Visa Steel Limited has allotted 1.35 crore equity shares to its promoter group entity, VISA Industries Limited, following the conversion of warrants. This conversion resulted in a capital infusion of Rs. 40.50 crore, representing the 75% balance payment of the Rs. 40 issue price per warrant. Consequently, the company's paid-up share capital has increased from Rs. 115.79 crore to Rs. 129.29 crore. This move indicates strong promoter support and provides the company with additional liquidity for its operations.
Key Highlights
Allotment of 1,35,00,000 equity shares to promoter group entity VISA Industries Limited
Infusion of Rs. 40.50 crore as balance 75% payment for warrant conversion at Rs. 40 per share
Paid-up share capital increased to Rs. 129.29 crore consisting of 12.93 crore shares
Part of a larger 5,00,00,000 warrant issuance approved in November 2025
New equity shares will rank pari-passu with existing shares of the company
💼 Action for Investors
Investors should view the promoter's capital infusion as a sign of confidence in the company's prospects, though they should also account for the resulting equity dilution. Monitor the utilization of these funds and the status of the remaining 3.65 crore warrants yet to be converted.
Visa Steel Allots 1.35 Crore Equity Shares to Promoters; Raises Rs 40.50 Crore
Visa Steel Limited has allotted 1,35,00,000 equity shares to its promoter group entity, VISA Industries Limited, following the conversion of warrants. The allotment was made at an issue price of Rs. 40 per share, with the company receiving the balance 75% consideration amounting to Rs. 40.50 crore. This transaction has increased the company's total paid-up share capital to Rs. 129.29 crore. The infusion of capital by promoters indicates their continued commitment and strengthens the company's balance sheet.
Key Highlights
Allotment of 1,35,00,000 equity shares to promoter group entity VISA Industries Limited
Capital infusion of Rs. 40.50 crore representing the balance 75% payment of the warrant issue price
Issue price fixed at Rs. 40 per share, including a premium over the face value of Rs. 10
Paid-up share capital increased from 11,57,89,500 to 12,92,89,500 equity shares
Part of a larger plan involving 5,00,00,000 convertible warrants previously approved
💼 Action for Investors
Investors should take note of the promoter's capital infusion as a sign of confidence in the company's future. While the equity dilution is a factor, the strengthened capital base may support operational stability.
Denta Water Q2 Net Profit Jumps 71% YoY to ₹189M; Bags New Projects Worth ₹1.7B
Denta Water and Infra Solutions reported a strong Q2 FY26 with revenue from operations growing 54% YoY to ₹742.69 million. Net profit for the quarter surged 71% to ₹189.28 million compared to ₹110.51 million in the previous year's corresponding quarter. The company also announced significant business momentum, securing new projects and emerging as the lowest bidder (L1) for works totaling approximately ₹1,697.55 million. While the financial performance is robust, the statutory auditor highlighted that trade receivables and payables are currently subject to reconciliation.
Key Highlights
Q2 FY26 consolidated revenue from operations increased 53.8% YoY to ₹742.69 million.
Net profit for the quarter rose 71.3% YoY to ₹189.28 million from ₹110.51 million.
H1 FY26 revenue reached ₹1,415.47 million with a total comprehensive income of ₹375.01 million.
Announced new water management projects and L1 status for works totaling ₹1,697.55 million.
Basic and Diluted EPS for H1 FY26 stood at ₹14.04 compared to ₹12.60 in H1 FY25.
💼 Action for Investors
The company shows strong growth and a healthy order book pipeline which supports future revenue visibility. Investors should maintain a positive outlook but monitor the auditor's note regarding the reconciliation of trade balances.
Skipper Limited Assigned CRISIL A/Stable and CRISIL A1 Credit Ratings
CRISIL Ratings Limited has assigned new credit ratings to Skipper Limited, signaling a healthy financial profile. The company received a 'CRISIL A/Stable' rating for its long-term instruments and a 'CRISIL A1' rating for its short-term obligations. These ratings reflect the company's established market position and a stable outlook for its future financial performance. This external validation is likely to support the company's ability to raise capital and manage borrowing costs effectively.
Key Highlights
Long-term credit rating assigned as 'CRISIL A' with a 'Stable' outlook
Short-term credit rating assigned as 'CRISIL A1' by CRISIL Ratings Limited
Ratings indicate a high degree of safety regarding timely servicing of financial obligations
Disclosure made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015
💼 Action for Investors
Investors should take this as a positive indicator of the company's creditworthiness and operational stability. Monitor for any potential reduction in interest costs in future earnings reports as a result of these favorable ratings.
Zenrock Chemicals and PACs Launch Open Offer for 26% Stake in Indo Borax at ₹162/Share
Zenrock Chemicals Private Limited, along with India Special Assets Fund III and other PACs, has announced an open offer to acquire up to 83,43,400 equity shares of Indo Borax & Chemicals Limited. This represents 26% of the company's voting share capital. The offer price is set at ₹162 per share, to be paid in cash, following a substantial acquisition agreement. This move indicates a significant change in the shareholding structure and potential management control of the company.
Key Highlights
Open offer to acquire up to 83,43,400 equity shares, representing 26% of the total voting capital.
Offer price fixed at ₹162 per equity share, payable in cash.
Acquirers include Zenrock Chemicals Private Limited and three India Special Assets Funds (PACs).
The offer is triggered under Regulations 3(1) and 4 of SEBI (SAST) Regulations, 2011.
IIFL Capital Services Limited is acting as the Manager to the Open Offer.
💼 Action for Investors
Investors should monitor the market price relative to the ₹162 offer price to determine if tendering shares is beneficial. The involvement of special situation funds suggests a potential strategic turnaround or value unlocking that warrants a close watch on future management commentary.
Krishival Foods Completes Dispatch of Rights Issue Documents; Record Date Dec 17
Krishival Foods Limited has announced the completion of the dispatch of the Letter of Offer and Rights Entitlement (RE) letters to eligible shareholders on December 20, 2025. The rights issue involves the issuance of partly paid-up equity shares to existing investors. The record date to determine eligibility was December 17, 2025, following in-principle approvals from BSE and NSE earlier in the month. This move marks a significant step in the company's capital-raising process.
Key Highlights
Dispatch of Letter of Offer and Rights Entitlement letters completed on December 20, 2025
Record date for determining shareholder eligibility was December 17, 2025
The fundraise involves the issuance of partly paid-up equity shares
In-principle approvals received from BSE on Dec 8 and NSE on Dec 4, 2025
💼 Action for Investors
Eligible shareholders should review the Letter of Offer and compare the rights issue price with the current market price to decide on subscription. Those not intending to subscribe should look to renounce their rights entitlements once trading commences to minimize dilution impact.
Balkrishna Industries Seeks Re-appointment of CMD Arvind Poddar for 5-Year Term
Balkrishna Industries has issued a postal ballot notice to seek shareholder approval for key leadership positions. The primary resolution involves the re-appointment of Mr. Arvind Poddar as Chairman & Managing Director for a five-year term starting August 1, 2026. Additionally, the company is proposing the appointment of an Independent Director and a Non-Executive Director effective February 1, 2026. Shareholders can cast their votes via the e-voting process which runs from December 24, 2025, to January 22, 2026.
Key Highlights
Proposed re-appointment of Mr. Arvind Poddar as CMD for a 5-year term effective from August 1, 2026, to July 31, 2031.
Appointment of Mr. Natarajan Gnanaskandan Tanjore as an Independent Director for a 5-year term starting February 1, 2026.
Appointment of Mr. Ashok Saraf as a Non-Executive Non-Independent Director effective February 1, 2026.
E-voting period scheduled from December 24, 2025, at 9:00 a.m. to January 22, 2026, at 5:00 p.m.
The cut-off date for determining shareholder eligibility for voting was December 19, 2025.
💼 Action for Investors
Investors should monitor the voting results as the re-appointment of the CMD ensures leadership continuity for the next five years. No immediate portfolio changes are recommended based on this routine governance update.
Lyka Labs Amalgamation Order Delayed; NCLT Sets Next Hearing for January 29, 2026
Lyka Labs has provided an update regarding its Scheme of Amalgamation currently under review by the NCLT Ahmedabad Bench. While the order was previously reserved on December 5, 2025, the tribunal called for further clarifications on December 18, 2025. Consequently, the matter has now been scheduled for further consideration on January 29, 2026. This delay extends the timeline for the completion of the merger process for both the Transferor and Transferee companies.
Key Highlights
NCLT Ahmedabad Bench had previously reserved the order on December 5, 2025.
The matter was listed for further clarification on December 18, 2025.
The next hearing for further consideration is scheduled for January 29, 2026.
The amalgamation involves both the Transferor and Transferee companies under the same jurisdiction.
💼 Action for Investors
Investors should monitor the outcome of the January 29 hearing as it will determine the progress of the merger. The delay may cause short-term price volatility due to extended uncertainty.
Karnataka Bank to Appoint Raghavendra Bhat as MD & CEO with ₹2.25 Crore Annual Fixed Pay
Karnataka Bank is seeking shareholder approval via postal ballot for the appointment of Mr. Raghavendra Srinivas Bhat as Managing Director & CEO. The appointment is for a one-year term effective from November 16, 2025, following prior approval from the RBI. The proposed annual fixed remuneration is ₹2.25 crore, which includes a basic salary of ₹1.45 crore plus allowances and perquisites. Shareholders are invited to vote on this ordinary resolution through an e-voting process ending January 22, 2026.
Key Highlights
Mr. Raghavendra Srinivas Bhat appointed as MD & CEO for a one-year term starting Nov 16, 2025
Total fixed annual remuneration set at ₹2,25,00,720 (₹2.25 crore)
Basic salary component is ₹1,44,96,000 per annum (₹12.08 lakh per month)
RBI approval for the appointment was received on November 14, 2025
Remote e-voting period for shareholders is from Dec 24, 2025, to Jan 22, 2026
💼 Action for Investors
Investors should monitor the bank's strategic direction under the new leadership, especially given the relatively short one-year initial term. Leadership continuity is crucial for the bank's ongoing digital transformation and credit growth targets.
Krishival Foods Completes Dispatch of Rights Issue Documents to Shareholders
Krishival Foods Limited has announced the completion of the dispatch of the Letter of Offer, Application Form, and Rights Entitlement Letter on December 20, 2025. This follows the record date of December 17, 2025, for the company's Rights Issue of partly paid-up equity shares. The company previously secured in-principle approvals from both BSE and NSE in early December 2025. This procedural step allows eligible shareholders to participate in the upcoming capital raise.
Key Highlights
Dispatch of Rights Issue documents completed on December 20, 2025
Record date for eligibility was fixed as December 17, 2025
Fundraise involves the issuance of partly paid-up Equity Shares
In-principle approvals received from NSE on Dec 4 and BSE on Dec 8, 2025
💼 Action for Investors
Eligible shareholders should review the Letter of Offer and check their demat accounts for Rights Entitlements (REs). Investors must decide whether to exercise their rights, sell them on the exchange, or let them lapse before the issue closing date.