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 ....
MERGER/ACQUISITION
● No Immediate Change
MEDIUM RISK
📅 Filed on BSE: 10 Mar 2026, 11:42 PM IST · BSE ID: 072a18c2-9455-4aa4-afad-9fdddeeff5b1
View Original BSE Filing (PDF)
🤖 AI Summary
- Punj Lloyd Ltd, which was undergoing liquidation through the bankruptcy court (NCLT), has been acquired by Adani Infra (India) Limited on a going concern basis. Three new directors have been appointed to manage the company, and the previous chairman Mr. Atul Punj has stepped down. This marks the completion of a major ownership change for the engineering and infrastructure company.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Acquisition Date
March 10, 2026
Sale certificate executed
New Directors Appointed
3
Vipin Goel, Kattunga Srinivasa Rao, Rajeev Pal
Previous Directors
1 resigned
Atul Punj stepped down
👁 Watch List — track these upcoming events
Details of debt restructuring and financial terms of acquisition
Integration roadmap and synergy plans from Adani Infra
Quarterly financial results post-acquisition
Regulatory approvals and compliance filings under new ownership
MEDIUM RISK
Company's prior financial distress, ongoing restructuring under new ownership, and execution risk on integration plans present medium-term uncertainty.
⚖️ Strengths & Concerns
✅ Positives
- Acquisition by established Adani Group brings financial backing and operational expertise
- New leadership team has deep experience in infrastructure, power projects, and EPC (Engineering, Procurement, Construction) sectors
- Company continues as going concern rather than liquidation, preserving business operations and employment
⚠️ Concerns
- Company was in financial distress requiring NCLT intervention and liquidation process
- Complete change of board indicates previous management structure was unable to sustain business
- Acquisition price and terms not disclosed in this filing
📅 Company Track Record
Punj Lloyd Ltd (CIN: L74899DL1988PLC033314, BSE Code: 532693) was a long-standing infrastructure and EPC company that faced financial difficulties requiring NCLT intervention. This acquisition represents resolution of the company's insolvency proceedings.
Based on publicly available historical data. For context only.