In terms of Regulation 30 of SEBI (LODR) Regulations, 2015 read with Schedule III and in furtherance of our Disclocure(s) dated February 12, 2026 & February 13, 2026 reg, Acquisition plan ....
Awaiting price reaction for this filing.
Punj Lloyd, which is undergoing a liquidation process under the NCLT, has been acquired by Adani Infra (India) Limited (AIIL) as the successful bidder. The NCLT Principal Bench, New Delhi, allowed the acquisition plan via orders dated February 12 and February 17, 2026, and the Liquidator executed the sale certificate on March 10, 2026, transferring the company on a going-concern basis to AIIL. Following the takeover, three Additional Directors from the Adani Group — Mr. Vipin Goel (CFO of AIIL), Mr. Kattunga Srinivasa Rao, and Mr. Rajeev Pal — have been appointed to the board effective March 10, 2026. The suspended board, including Mr. Atul Punj, has been formally discharged, completing the change in management.
This marks a definitive end to the old Punj Lloyd era, with the Adani Group now in full control of the company's assets and operations. For shareholders, existing equity may effectively become worthless as the company is sold as a going concern under liquidation, with no traditional revival or value distribution to old shareholders evident here.