The Exchange has received the disclosure under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for HSM Investments Ltd
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HSM Investments Limited, part of the promoter group, acquired additional shares of Asutosh Enterprise Ltd through a court-sanctioned scheme of amalgamation approved by NCLT Kolkata. Two group companies — Macneill Electricals Ltd (1,95,000 shares, 8.70%) and V.N. Enterprises Ltd (2,21,500 shares, 9.88%) — were merged into HSM Investments Ltd, causing their combined 18.58% stake (4,16,500 shares) in Asutosh to transfer to HSM Investments. As a result, HSM Investments' holding jumped from 9.13% (2,04,550 shares) to 27.71% (6,21,050 shares). The MCA approved the NCLT order on 15 November 2025. The acquisition is exempt from making an open offer under Regulation 10(1)(d)(ii) because it arises from a sanctioned scheme of amalgamation.
The promoter group's effective stake in Asutosh Enterprise has risen sharply from 9.13% to 27.71%, consolidating ownership within the group without triggering a mandatory open offer. This is a corporate restructuring event that strengthens promoter control and reduces public float, but no immediate share price impact is expected since this is an internal group reorganisation rather than a fresh market purchase.