Ventive Hospitality is exploring a potential acquisition through its subsidiary, Panchshil Corporate Park Private Limited (PCPPL). The company aims to enter a non-binding agreement to potentially acquire a target entity and expand the Soho House brand in India. This move could lead to Ventive Hospitality acquiring subsidiaries that hold exclusive rights for Soho House expansion, particularly concerning Soho House Mumbai (Juhu).

Acquisition Exploration

Ventive Hospitality, via its Material Subsidiary, namely Panchshil Corporate Park Private Limited (PCPPL), intends to explore the potential acquisition of a business. The company plans to enter into a non-binding agreement with a Target Entity.

Soho House Expansion

If the transaction is successful, the proposed deal would likely result in the acquisition of the Target Entity’s subsidiaries. These subsidiaries currently hold exclusive rights for Soho House expansion in India. The company also operates Soho House Mumbai (Juhu).

Conditions

The proposal is subject to due diligence, the execution of definitive agreements, and compliance with all applicable laws and regulatory approvals.

Source: BSE

JSW Energy’s subsidiary, JSW Energy (Utkal) Limited, has received a letter of award from Power Company of Karnataka Limited (PCKL) for a 400 MW power supply arrangement. This agreement spans 25 years, commencing from April 1, 2026. The arrangement ensures a stable earnings outlook for JSW Energy, tying up a significant portion of Utkal’s capacity and further solidifying JSW Energy’s position in the power sector.

New Power Supply Agreement

JSW Energy (Utkal) Limited, a subsidiary of JSW Energy, has secured a Letter of Award (LoA) from Power Company of Karnataka Limited for a 400 MW power supply arrangement. The agreement is set to commence on April 1, 2026, and will extend for a period of 25 years.

Impact on Utkal Capacity

Upon regulatory adoption and the subsequent signing of the Power Purchase Agreement, 57% of Utkal’s total capacity will be tied up under this arrangement. This ensures substantial long-term earnings stability for the plant.

JSW Energy’s Total Capacity

JSW Energy has a total locked-in generation capacity of 30.5 GW, which includes 13.2 GW operational, 12.5 GW under construction (thermal and renewable), and 150 MW under-acquisition hydro, alongside a pipeline of 4.6 GW. The company also possesses 29.4 GWh of locked-in energy storage capacity through hydro pumped storage projects of 26.4 GWh and a battery energy storage system of 3.0 GWh. The company aims to reach 30 GW generation capacity and 40 GWh of energy storage capacity by FY 2030, striving for Carbon Neutrality by 2050.

Source: BSE

India Ratings and Research has reaffirmed the credit ratings for Adani Ports and Special Economic Zone Limited. The ratings for Non-Convertible Debentures (NCDs) and bank loan facilities have been affirmed with a stable outlook. This reflects the company’s strong financial position and outlook.

Credit Ratings Reaffirmed

Adani Ports and Special Economic Zone Limited (APSEZ) has received affirmation of its credit ratings from India Ratings and Research. The ratings agency has reviewed the company’s financial instruments and maintained its positive assessment.

Details of Ratings

The following ratings have been reaffirmed:

• Proposed Non-Convertible Debentures (NCDs): IND AAA/Stable, with an issue size of Rs. 50 Billion.
• NCDs: IND AAA/Stable, with an issue size of Rs. 58.52 Billion.
• Commercial Paper: IND A1+, with an issue size of Rs. 67 Billion.
• Bank Loan Facilities: IND AAA/Stable/IND A1+, with an issue size of Rs. 10 Billion.

The stable outlook indicates that India Ratings expects the company to maintain its credit profile. This announcement was made on October 16, 2025.

Source: BSE

Choice International has granted 347,250 employee stock options to 114 eligible employees under its “Choice Employee Stock Option Plan 2022.” Each option allows the holder to apply for one equity share of the company with a face value of ₹10. The options vest over four years, with 25% vesting annually. The exercise period is up to 7 years from the grant date.

ESOP Grant Details

Choice International announced the grant of 347,250 employee stock options to 114 eligible employees as part of its “Choice Employee Stock Option Plan 2022” (ESOP 2022). This decision was made at a board meeting held on October 16, 2025.

Terms of the Options

Each stock option enables the holder to apply for one equity share of Choice International, with each share having a face value of ₹10. The options vest gradually over a period of four years from the date of grant, with 25% of the options vesting on each anniversary. The exercise period for these options extends up to 7 years from the grant date.

Vesting Schedule

The vesting schedule for the granted options is as follows:

• On the 1st anniversary of the grant date: 25% of options vest.
• On the 2nd anniversary of the grant date: 25% of options vest.
• On the 3rd anniversary of the grant date: 25% of options vest.
• On the 4th anniversary of the grant date: 25% of options vest.

Additional Information

The exercise price for each share under the ESOP is set at ₹10.

Source: BSE

Choice International has released its Monitoring Agency Report for the quarter ended September 30, 2025. The report, prepared by India Ratings & Research Private Limited, confirms no deviations in the use of proceeds from the preferential issue of share warrants. The company is utilizing the funds as disclosed in its offer documents and shareholder communications.

Monitoring Agency’s Key Findings

The Monitoring Agency, India Ratings & Research Private Limited, confirms that there have been no deviations in the use of proceeds raised through the Preferential Issue of Equity Warrants. This aligns with the objects stated in the Explanatory Statement and related notices.

Issue Details

The issue consisted of 23,121,000 warrants, each convertible into one fully paid-up equity share with a face value of INR 10, priced at INR 300 per warrant.

Fund Utilization

As of September 30, 2025, the company received 25% of the issue size, amounting to INR 173.41 Crores, as an upfront consideration. They also received the balance 75% on 6,000,000 warrants, totaling INR 135 Crores. The remaining 75% (INR 385.22 Crores) will be received as conversion options are exercised.

Progress on Object(s)

A total of INR 308.41 Crores has been utilized. The breakdown is as follows:

• Investments in subsidiaries/associates/joint ventures: INR 262.25 Crores
• Repayment of credit facilities: INR 20.94 Crores
• Investments in Technology, IT Infrastructure and Physical Infrastructure: INR 21.75 Crores
• General Corporate Purposes: INR 3.47 Crores

Additional Information

An advance amount of INR 35.48 Crores has been paid in connection with the investment in Choice Insurance Broking India Private Limited, pending approval from the Insurance Regulatory and Development Authority of India (IRDAI). A balance of INR 4,819 is lying in ICICI Bank.

Confirmation

The company confirms that all utilizations are in line with the disclosures made in the offer documents and that all necessary government and statutory approvals have been obtained.

Source: BSE

ICICI Lombard has updated its investor presentation for the half-year ended September 30, 2025, due to typographical errors in Slide No. 19. Correct figures are available in Slide No. 17. There are no other changes to the reported financial numbers. The company has taken steps to prevent future errors.

Investor Presentation Revision

ICICI Lombard has revised its investor presentation concerning the performance review for the half-year ended September 30, 2025. This revision addresses typographical errors discovered in Slide No. 19 of the original presentation.

Details of the Correction

The company clarified that while Slide No. 19 contained some errors, the correct figures were already available in Slide No. 17. An updated presentation has been provided, with an annexure showing corrected and prior details from Slide 19:

The updated Combined Ratio (CoR) reads as:

• Q2-2026: 103.9%
• H1-2026: 103.0%

The prior Combined Ratio (CoR) was:

• Q2-2026: 104.5%
• H1-2026: 103.2%

Confirmation of Other Financials

ICICI Lombard confirms that no other financial numbers reported in the investor presentation for the half-year ending September 30, 2025, have been altered. The company has taken the necessary actions to avoid similar errors in the future.

Strategic Pillars and Financial Highlights (H1 2026)

ICICI Lombard focuses on strategic pillars to deliver ROE. Key financial highlights include:

• GDPI: ₹143.31 billion
• PAT: ₹15.67 billion
• Combined Ratio (CoR): 104.0%
• Return on Average Equity: 20.8%

Business Performance:

• Motor business grew by 2.2% driven by the month of September 2025 festive demand.
• Retail Health sustained investments, enabled market share growth.
• P&C demonstrated robust growth with maintained discipline.
• Crop insurance won clusters in Maharashtra.

Source: BSE

Choice International announced a 22% YoY increase in PAT for Q2 FY26, reaching ₹56 Cr. Total Revenue grew by 14% YoY to ₹284.10 Cr. The company highlights growth across stock broking, advisory, and NBFC segments. Demat accounts increased by 29% YoY, and client assets under stock broking saw a 25% YoY surge. Choice AMC received final approval, marking entry into investment management.

Financial Performance Highlights

Choice International reported strong financial results for Q2 FY26:

• Total Revenue: ₹284.10 Cr, a 14.00% increase YoY.
• EBITDA: ₹98.98 Cr, up 27.45% YoY.
• EBITDA Margin: 34.84%.
• PAT: ₹56.46 Cr, a 21.55% increase YoY.
• PAT (%): 19.87%.

For the half-year ended September 30, 2025:

• Total Revenue: ₹522.06 Cr, up 14.70% YoY.
• EBITDA: ₹185.78 Cr, up 36.71% YoY.
• PAT: ₹104.42 Cr, up 33.09% YoY.

Key Business Developments

Significant developments across business segments:

• Stock Broking contributed 59% of revenue, Advisory 26%, and NBFC 15%.
• Demat Accounts reached 12.05L, a 29% increase YoY.
• Client Assets under Stock Broking: ₹57.6K Cr, a 25% growth YoY.
• AUM for Wealth Products: ₹4,807 Cr, surged by 327% YoY.
• Insurance premium generated: ₹66 Cr, a 2% increase YoY.
• NBFC Loan book: ₹716 Cr.
• Advisory segment order book: ₹666 Cr.

Strategic Initiatives

Choice Consultancy Services Private Limited (CCSPL) secured project mandates worth approximately ₹140 Cr across various sectors including housing, agriculture, and water resource management. Choice AMC Private Limited received final approval to act as the Asset Management Company for Choice Mutual Fund, marking its formal entry into investment management.

Source: BSE

Choice International has released an investor presentation highlighting the un-audited financial results for the quarter and half-year ended September 30, 2025. The presentation showcases the company’s financial performance, diversified financial offerings, and key highlights across various segments. Choice International reports a solid growth trajectory and strategic focus on expansion. These Q2 and H1 FY26 results highlight the company’s sustainable business model.

Company Overview

Choice International, a leading financial conglomerate with over a decade’s expertise, provides tech-led services. The company’s financial growth snapshot (CAGR FY21-25) reveals significant performance improvements:

• Revenue growth of 52%
• EBITDA growth of 70%
• PAT growth of 77%

Key Financial Highlights

The company demonstrates a diversified mix for sustainable business with a revenue split for H1 FY26 dominated by Broking & Distribution (59%).

• Broking & Distribution:

• Demat Accounts increased by 29% to 1,205K
• Active Accounts increased by 18% to 262K+

• NBFC:

• Total Loan Book increased by 56% to ₹7.16 Bn
• Retail Loan Book increased by 74% to ₹5.36 Bn

Q2 FY26 Highlights (July-September)

Compared to Q2 FY25, Choice International’s financial performance showed substantial growth:

• Revenue increased by 14%
• EBITDA increased by 27%
• PAT increased by 22%

H1 FY26 Highlights (April-September)

Compared to H1 FY25, Choice International’s financial performance improved significantly:

• Revenue increased by 15%
• EBITDA increased by 37%
• PAT increased by 33%

Stock Broking Performance

The company is expanding its PAN India reach and client base with a steadily increasing client base. The broking and distribution segment revenue has also seen positive growth, increasing by 2%.

Footprint Expansion

Choice International focuses on sustainable and meaningful expansion with plans to:

• Add 100 new locations in FY26
• Establish presence in every district over the next 3 years

Wealth Distribution

Choice International maximizes growth of portfolio with a mix of products:

• Sustained Growth in AUM: 327%
• Progressive Increase in SIP Book: 55%
• Steady Increase in Transactions: 72%

Source: BSE

An indirect subsidiary of Samvardhana Motherson, Motherson SAS Automotive Modules and Services Argentina S.A., has received a penalty from the Argentine tax authority (ARCA). The penalty, amounting to ARS 56,436,886.20 (approximately INR 3,665,406), relates to tax credits claimed from 2019-2023. The penalty occurred before Samvardhana Motherson’s acquisition of the parent company. The company intends to discuss with the seller under an indemnity agreement.

Penalty Imposed on Argentine Subsidiary

An indirect, wholly-owned subsidiary of Samvardhana Motherson International Limited, named Motherson SAS Automotive Modules and Services Argentina S.A. (“MSAS Argentina”), has received a penalty from the Argentine tax authority, Agencia de Recaudacion de Control Aduanero (ARCA). This was disclosed on October 16, 2025.

Details of the Penalty

The tax authority imposed the penalty as MSAS Argentina inadvertently claimed certain tax credits or deductions related to VAT input or expenses from 2019 to 2023 against invoices. These invoices were from a supplier later found to be non-compliant with ARCA regulations. The penalty totals ARS 56,436,886.20, which is equivalent to approximately INR 3,665,406.

Background and Company Response

The penalty pertains to a period before Samvardhana Motherson acquired the business, which occurred on July 31, 2023, through the acquisition of SAS Autosystemtechnik GmbH Germany. The company states the penalty will not materially impact the finances or operations of either MSAS Argentina or the broader Samvardhana Motherson International. The company plans to discuss the matter with the seller of the business under an existing indemnity provision.

Source: BSE