October 21, 2026: Persistent Systems, Nestlé India, Jindal Photo, Indosolar, Laxmi Dental and other companies announced key corporate developments on Wednesday, October 21. The updates include a proposed $450 million qualified institutional placement (QIP), senior management changes, delisting approval, financial results, preferential warrant allotments and a US tariff refund.
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1. Persistent Systems: The company’s Special Committee of the Board approved the opening of a QIP issue on October 21, 2026, with a floor price of ₹5,550 per equity share. The issue size is up to $450 million, equivalent to approximately ₹4,264.61 crore. The committee also approved the preliminary placement document. The trading window remains closed for designated persons.
2. Nestlé India: The company announced senior management changes effective January 1, 2027. Vineet Singh will move to a Nestlé affiliate, while Gopichandar Jagatheesan will succeed him as Business Executive Officer (BEO) – Nutrition and Dairy. Mansi Khanna will join as BEO – Chocolates and Confectionery, succeeding Jagatheesan. Khanna previously served as COO of a Nestlé Health Science joint venture.
3. Jindal Photo: The company received in-principle approval for the voluntary delisting of its equity shares from the BSE and NSE under the SEBI (Delisting of Equity Shares) Regulations, 2021. The company has also made the disclosure available on its website under the Investors section.
4. Indosolar: The company reported standalone unaudited financial results for the quarter and half year ended September 30, 2026. September-quarter total income declined to ₹15,716.68 lakh from ₹20,255.90 lakh a year earlier. Profit after tax fell to ₹501.85 lakh from ₹4,633.76 lakh in the corresponding quarter last year. For the first half of FY27, total income stood at ₹23,391.52 lakh and profit after tax at ₹4,163.78 lakh.
5. Shree Salasar Investments: The company approved the preferential allotment of 18.50 lakh warrants to promoter and identified non-promoter categories. The warrants are convertible into an equal number of equity shares within 18 months at ₹175 per share, representing an aggregate issue value of ₹32.375 crore. BSE has granted in-principle approval. The allotment does not immediately change paid-up equity share capital; shares issued upon conversion will rank pari passu with existing shares.
6. Laxmi Dental: The company’s subsidiary, Laxmi Dental Lab USA Inc., received a tariff refund of US$0.63 million, approximately ₹5.92 crore, from US Customs and Border Protection. The refund follows a US Supreme Court directive concerning the return of excess tariffs collected from importers. The company will also publish the disclosure on its website.
7. Quint Digital: The company issued a first and final call notice for partly paid-up detachable warrants, requiring holders to pay ₹5 per warrant between November 6 and November 20, 2026. Failure to pay may result in forfeiture. Trading in the warrants has been suspended since October 16, 2026. Upon payment, the warrants will be converted into fully paid-up equity shares.
8. Andhra Pradesh Tanneries: The company reported a net loss of ₹2.90 lakh for the quarter ended September 30, 2026, on total income of ₹0.75 lakh. For the half year, total income stood at ₹1.65 lakh and the net loss after tax was ₹5.99 lakh. Basic earnings per share stood at -₹0.13 for the quarter and -₹0.27 for the half year. The board also approved the appointment of Dr. Deepak Uphale as an Additional Director and the reappointment of Vibheeshana Rao Busurothu as a Non-Executive Independent Director, subject to shareholder approval. The company’s plant is currently not operational.
9. Knowledge Marine & Engineering Works: The board approved requests from certain promoter group members to be reclassified under the public shareholder category. The reclassification, approved at the October 21 board meeting, remains subject to stock exchange approval under SEBI listing regulations.
10. Shantai Industries: The company’s board approved its standalone unaudited financial results for the quarter and half year ended September 30, 2026, at its meeting on October 21. The financial results and limited review report were enclosed with the company’s disclosure.
Disclaimer: This report summarises the corporate announcements provided and is for informational purposes only. Corporate developments do not necessarily indicate the direction of a stock’s price.
