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 acquired a 33.05% stake in Hindusthan Udyog Limited, up from 2.26% earlier, pursuant to an NCLT-sanctioned Scheme of Amalgamation. The amalgamation involved three transferor companies — HSM International Private Limited, Macneill Electricals Limited, and V.N. Enterprises Limited — merging into HSM Investments Limited, with all assets, liabilities, and shareholdings (including shares held in Hindusthan Udyog) transferring to HSM Investments. The NCLT order was passed on September 18, 2025, and was approved by the Ministry of Corporate Affairs on November 15, 2025, making the scheme effective. HSM Investments is exempted from making an open offer under Regulation 10(1)(d)(i) of SEBI takeover rules. Post-transaction, HSM Investments holds 20,47,399 shares in Hindusthan Udyog, compared to 1,40,279 shares earlier.
This is a group-level restructuring where HSM Investments consolidated its promoter-related entities, resulting in it becoming a significant shareholder (33.05%) in Hindusthan Udyog. Since the acquisition is via a court-sanctioned scheme and exempted from an open offer, there is no immediate trigger for a mandatory open offer to public shareholders. The change reflects internal promoter consolidation rather than a new external buyer.