TRANSCHEM LTD.

Classified under pharmaceuticals, the company reported total income of Rs 926.08 lakhs in FY26, but operating revenue in Q3 FY26 was just Rs 20.60 lakhs — the bulk of income came from 'other income' sources. It holds cash reserves of Rs 4,242.91 lakh and posted net profit of Rs 429.51 lakhs, though operating cash flow turned negative at minus Rs 156.59 lakh for the year. The company has allotted 6.15 crore warrants at Rs 75 each, of which Rs 110 crore of proceeds is earmarked for strategic acquisitions in the broking and allied financial services sector, with target entities intended to become subsidiaries. Another Rs 115 crore is allocated for general corporate purposes to be utilised within 6-18 months. The largest allottee is Bakkt Opco Holdings, LLC (a US entity owned by NYSE-listed Bakkt Inc.), which received 4.75 crore warrants representing 64.42% of fully diluted share capital upon conversion.