Cheviot Company Limited has announced the acquisition of equity shares in Hindalco Industries Limited through secondary market purchase, as disclosed in a regulatory filing dated December 18, 2025. The acquisition was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Acquisition Details

The company has acquired shares in Hindalco Industries Limited with a strategic focus on long-term investment opportunities. The following table summarizes the key acquisition parameters:

Target Company Profile

Hindalco Industries Limited, incorporated in 1958, is a prominent player in the metal and metal products manufacturing sector. The company's financial performance demonstrates strong fundamentals that attracted Cheviot's investment decision.

Note: Figures are on standalone basis

Investment Rationale and Impact

Cheviot Company Limited emphasized that the share purchase was made without any intention to acquire control over Hindalco Industries Limited. The investment decision was driven by:

• Strong fundamental performance of Hindalco Industries Limited
• Leading market position held by the target company
• Long-term investment perspective
• Strategic portfolio diversification

The acquisition has no material impact on Cheviot's operations as the holding represents less than 0.01% of Hindalco's share capital. However, the value of the acquisition exceeds the threshold specified in Regulation 30(4)(i)(c) of the Listing Regulations, making the disclosure mandatory.

Regulatory Compliance

The transaction does not fall within related party transactions, and Cheviot's promoter/promoter group/group companies have no interest in Hindalco Industries Limited. The shares were purchased through the stock exchange mechanism, forming part of the company's non-current investments portfolio. No governmental or regulatory approvals were required for this acquisition, as it represents a standard secondary market transaction.

Cheviot Company Limited has made a strategic move in the Indian financial market by acquiring a stake in the National Stock Exchange of India Limited (NSEIL). The company purchased 10,000 equity shares of NSEIL for ₹1.83 crore, at a price of ₹1,830 per share.

Investment Details

This acquisition represents a small but significant step for Cheviot Company, as it now holds a 0.00646% stake in NSEIL. The company views this purchase as a long-term investment, citing NSEIL's strong fundamentals and leading market position as key factors in their decision.

About the National Stock Exchange of India Limited

NSEIL, incorporated in 1992 and recognized as a stock exchange by SEBI in April 1993, has established itself as a cornerstone of India's financial markets. According to the latest available financial data:

These figures underscore NSEIL's robust financial position and its significant role in India's financial ecosystem.

Investment Rationale

Cheviot Company's decision to invest in NSEIL aligns with a strategy focused on long-term value creation. The company has emphasized that this acquisition was made without any intention to acquire control, given the minimal shareholding percentage.

It's worth noting that while the investment amount exceeds certain regulatory thresholds, necessitating disclosure under Regulation 30 of the Listing Regulations, it does not signify a material impact on Cheviot Company's overall holdings.

Market Implications

This transaction, while small in scale, reflects the continued interest of corporate entities in India's premier stock exchange. It underscores the perceived value and growth potential of NSEIL in the eyes of institutional investors.

As the Indian financial markets continue to evolve and expand, such investments by companies like Cheviot in key market infrastructure could potentially contribute to the overall stability and growth of the ecosystem.

Investors and market watchers will likely keep an eye on any future developments or similar moves by other companies, as they may indicate broader trends in corporate investment strategies within India's financial sector.