1. CRG Solutions acquisition - A 77.81% controlling stake in CRG Solutions was acquired effective 1 April 2025 for a total consideration of Rs. 46.08 crore via cash and share swap. This adds a revenue-generating entity with immediate consolidation, directly scaling the top line from the first quarter of FY26.
2. Alpharithm India acquisition - 100% of Alpharithm Technologies Private Limited was acquired effective 1 April 2025 for Rs. 15.00 crore via cash and share swap. The acquisition brings a complementary AI and data engineering capability under full control, broadening the service stack available to cross-sell into the existing client base.
3. Antworks Solutions acquisition - The board approved a share-swap acquisition of 100% of Antworks Solutions India for Rs. 101.52 crore on 17 January 2026, with shares to be issued to 124 allottees including one promoter-group entity. Once closed, this transaction roughly doubles the company’s market-cap scale in a single step, funded entirely by paper.
4. Alpharithm Singapore and AntWorks global pipeline - A binding term sheet is signed for Alpharithm Technologies Pte. Ltd. (Singapore), whose subsidiary AntWorks Pte. Ltd. brings operating entities in the UK, US, and India; due diligence was nearing completion as of August 2025. Closing this deal would add a multi-geography automation platform with immediate developed-market revenue streams.
5. Subsidiary amalgamation - A board-approved Scheme of Amalgamation will merge Global Talent Track, Itarium Technologies, and Alpharithm India into the listed parent, with no new shares issued since they are wholly owned. Consolidation simplifies the corporate structure and eliminates minority-interest leakage, making reported earnings a cleaner reflection of the group’s operations.
6. Rights issue and acquisition war chest - A 1:1 rights issue at Rs. 26 per share raised Rs. 48.13 crore on 1.85 crore fully paid-up shares by June 2025, and a further rights issue of up to Rs. 50 crore was approved in August 2025. The company has earmarked up to 25% of gross proceeds for inorganic growth, providing a funded pipeline for the acquisition strategy management has consistently signalled across filings.
7. IP acquisition - O2 Breathing Brains LMS platform - An advance of Rs. 3.54 crore has been paid for the IP rights to an LMS platform, with tax compliance issues resolved post-September 2025 and completion expected during the fourth quarter of FY26. Owning the platform IP converts a cost centre into a proprietary product asset, lifting margin potential in the training segment.
8. Insurant AI (UK) acquisition - The board approved a share-swap acquisition of 100% of UK-based Insurant AI for Rs. 15.79 crore on 17 January 2026, with shares to be issued to three allottees. The transaction brings insurance-focused AI intellectual property and a UK regulatory footprint, opening a beachhead in the BFSI sector that management has identified as a priority vertical.