The Exchange has received the updates on disclosure from Megasoft Ltd under Regulation 10(6) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.
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The exchange received updates under Regulation 10(6) from Megasoft Ltd regarding a Scheme of Amalgamation between Megasoft Limited and Sigma Advanced Systems Limited, which became effective on January 16, 2026. As part of the scheme, 17 former shareholders of Sigma Advanced Systems Private Limited were allotted equity shares of Sigma Advanced Systems Limited in exchange per the Share Exchange Ratio. All acquirers held Nil shares pre-transaction. The largest allottee is Cheemarla Damodar Reddy with 75,42,079 shares (4.28% of diluted share capital), followed by his Trust (2,37,000 shares, 0.13%) and Krishna Reddy Cheemarla (56,248 shares, 0.03%). The remaining 14 individuals each received tiny stakes ranging from 0.0004% to 0.03%. All acquisitions qualify for exemption from making an open offer under Regulation 10(1)(d)(ii) since they arose from a court-approved scheme.
No open offer obligation for existing shareholders — these allotments stem from an NCLT-approved scheme of amalgamation between Megasoft and Sigma Advanced Systems. Promoter-family entities (Cheemarla group) are collectively taking a meaningful stake in the listed entity post-merger, which may influence future corporate decisions but is procedurally exempt from SEBI takeover code open offer requirements.