Indo Thai Securities Limited has achieved a significant milestone in its corporate restructuring plans by securing regulatory approvals from both BSE Limited and National Stock Exchange of India Limited for its proposed scheme of arrangement. The company received positive responses from both exchanges on March 18, 2026, marking a crucial step forward in the demerger process.

Exchange Approvals and Timeline

The regulatory approvals came through observation letters issued by both stock exchanges on the same date. BSE Limited provided an observation letter stating "no adverse observations" while NSE conveyed "no objection" to the proposed scheme. These approvals were communicated to the company on March 19, 2026, following the board's initial approval decision made on October 13, 2025.

Subsidiary Capital Structure Enhancement

As part of the ongoing demerger compliance requirements, Indo Thai Securities disclosed material information about its subsidiary Indo Thai Financial Services Limited on March 25, 2026. The subsidiary has significantly increased its authorized share capital to facilitate the proposed scheme of arrangement.

Scheme Structure and Objectives

The scheme of arrangement involves the demerger of the Broking & Distribution Undertaking from Indo Thai Securities Limited and its subsequent transfer to Indo Thai Financial Services Limited, which is currently an unlisted wholly owned subsidiary. This corporate restructuring aims to segregate the broking and distribution business into a separate entity while maintaining the overall corporate structure.

The demerger process operates under Sections 230 to 232 of the Companies Act, 2013, and requires compliance with SEBI Master Circular no. SEBI/HO/CFD/POD-2/P/CIR/2023/93 dated June 20, 2023, along with Regulations 94(2) and 94A(2) of SEBI LODR Regulations, 2015.

Regulatory Compliance and Disclosure Requirements

Both exchanges have outlined extensive compliance requirements that must be fulfilled throughout the scheme implementation process. The company is required to disclose all material information about Indo Thai Financial Services Limited on a continuous basis to ensure transparency for shareholders and regulatory compliance.

Next Steps and Timeline

The observation letters carry a validity period of six months from March 18, 2026, within which the scheme must be submitted to the National Company Law Tribunal. The company must complete the listing of securities and commence trading within sixty days of receiving the NCLT order. The recent capital structure enhancement of the subsidiary demonstrates the company's commitment to meeting all regulatory requirements for the successful implementation of the demerger scheme.

Indo Thai Securities Limited has disclosed significant progress in its subsidiary's research partnership discussions with Purdue University. Femto Green Hydrogen Limited, the company's subsidiary, has advanced collaboration talks with the Center for Research and Education in Advanced Transportation Ecosystems (CREATE) at Purdue University, Indiana, USA.

Technology Validation Results

Dr. Manoj Patankar, Director of CREATE, has been evaluating Femto's proprietary technology for improving diesel fuel efficiency and reducing emissions over the past three years. His research findings, documented in the article "Terahertz Treatment of Automotive Diesel Achieves Consistent Improvements in Fuel Economy and Greenhouse Gas Emissions," revealed significant performance improvements.

The field trials conducted using school buses demonstrated measurable reductions in carbon monoxide, carbon dioxide, and nitrogen dioxide emissions alongside substantial fuel economy gains.

Partnership Development Progress

On March 9, 2026, Dr. Patankar visited Femto Green Hydrogen Ltd.'s headquarters in Indore, India, for comprehensive discussions with the company's management and technical teams. The two-day meeting focused on reviewing progress achieved to date and establishing a structured roadmap for further technology validation and potential commercial deployment.

Proposed Collaboration Framework

The discussions resulted in CREATE being proposed as a research partner for Femto Green Hydrogen Ltd. to advance scientific validation and technology development. The collaboration would facilitate structured testing programs, strengthen technical validation, and generate reliable performance data required for large-scale deployment.

The initiative may involve undergraduate and graduate students participating in the research program under CREATE's academic framework. Additionally, CREATE may support Femto in advancing the commercialization strategy of its technology. Dr. Patankar suggested formalizing the partnership through a Letter of Intent that would establish the foundation for specific activity-level agreements.

Regulatory Compliance

Indo Thai Securities made this disclosure on March 17, 2026, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Shruti Sikarwar, Company Secretary cum Compliance Officer (Membership No: A61132), ensuring transparency and regulatory compliance.