- **lead** - Anka India Ltd is a company that has spent the last few years searching for a business that works, pivoting from a dormant software shop to a film producer and cinema operator, and now to a digital advertising platform through a reverse merger that hands control to a new team with an operating business. The recurring pattern is one of reinvention by acquisition: each new venture is bought in, tried, and either discarded or made the new centre of gravity, with the latest deal bringing in Futech Internet Private Limited, an ad-tech provider that has been acquired as a wholly owned subsidiary and is in the process of being merged into the shell to become the company itself. # Business segments A single engine at the core - a digital advertising solutions business acquired through a share swap and now being folded into the listed shell, while legacy film rights sit idle on the balance sheet as remnants of an abandoned strategy. ## 1. Digital advertising solutions: the business that came in through the back door **An ad-tech provider was acquired in a share-swap deal that gave its owners control of the listed company, and it is now being merged in to become the operating business - no cash changed hands, just equity.** - **Paid for with shares, not cash** - Anka India issued roughly 3.62 crore of its own equity shares to Futech's shareholders, Amit Sharma and Arjit Sachdeva, at a face value of ₹10 per share to acquire 100% of the company, giving them about 70% of the enlarged share capital and triggering a mandatory open offer to public shareholders at the same price. - **Full-stack advertising, from hoardings to performance marketing** - Futech's business covers buying and selling advertising space across radio, internet, television, cinema networks, newspapers, hoardings, and electronic displays, as well as producing advertising materials and acting as an agent or franchise manager for publicity campaigns. - **Being merged to cut duplication** - the board approved a scheme of amalgamation that will cancel the subsidiary investment without issuing any new shares, so the listed entity simply absorbs the operating business, with the stated goal of consolidating operations, reducing costs, and improving access to funding. - **A fresh leadership slate** - following the change in control, a new managing director, directors, chief financial officer, and company secretary were appointed in March 2026, replacing the previous promoters who were reclassified as public shareholders. ## 2. Legacy film rights: inventory from a dead-end pivot **The company still carries song album rights and unfinished film projects on its books - assets from an entertainment venture that was abandoned after the cinema subsidiary was sold to stem losses.** - **Song albums waiting for a buyer** - the company holds completed but unreleased song album rights valued at ₹22.5 lakh, which have been sitting idle for more than twelve months and are intended to be sold outright with no retained interest. - **Film projects stuck in development** - intangible assets under development worth nearly ₹7 crore represent rights to multiple films, including projects titled "Blue Bing," "Abhishek Dogra," and three UK-based productions, all carried on the books for more than two years with no demonstrable progress toward completion or commercial release. - **The cinema experiment was cut loose** - the company had acquired a multiplex subsidiary, Legend SRS Cinemas, which operated screens in Delhi NCR, Rewari, and Faridabad, but sold it in March 2024 for just ₹1 lakh because low post-COVID turnout and a thin content pipeline made it a loss-maker. # Group structure and partners **A shell company acquired an operating business through a share swap that flipped control to the target's owners, and the subsidiary is now being merged into the listed parent to create a single unified entity.** - **Futech Internet Private Limited is the sole subsidiary** - acquired during FY25 and now in the final stages of amalgamation, with the NCLT Chandigarh Bench approving the first motion in February 2026 and the merger taking effect from an appointed date of 1 April 2025. - **Control changed hands without cash** - the preferential allotment to Amit Sharma and Arjit Sachdeva gave them a combined 74.86% stake, reclassifying them as promoters while the original promoters, Raman and Sulakshana Trikha, moved to the public category. - **No other partnerships remain** - the company had no joint ventures or associates as of FY24, and its only previous subsidiary, Legend SRS Cinemas, was fully exited in January 2024 and sold two months later.