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 has disclosed acquisition of shares in Bengal Steel Industries Ltd pursuant to a Scheme of Amalgamation sanctioned by the NCLT Kolkata Bench. Three transferor companies — HSM International Pvt Ltd (1.93%), Macneill Electricals Ltd (2.33%), and V.N. Enterprises Ltd (17.24%) — have merged into HSM Investments (Transferee Company), transferring their combined holding to it. As a result, HSM Investments' stake in Bengal Steel rose from 50,010 shares (1.02%) to 11,03,946 shares (22.53%). The NCLT order was approved by MCA on November 15, 2025, and the acquisition is exempt from the open offer requirement under Regulation 10(1)(d)(i) of SEBI (SAST) Regulations, 2011.
This is an internal consolidation within the promoter group — shareholding is being clubbed into a single entity rather than involving an outsider. Since the acquisition relies on a court-approved scheme exemption, no mandatory open offer is triggered. The consolidated promoter entity now holds 22.53%, still well below the 50% threshold, reducing the likelihood of any governance/control changes for retail shareholders.