Panasonic Carbon India Co Limited has formally clarified to BSE Limited that Regulation 57 of the SEBI (LODR) Regulations, 2015 does not apply to the company's operations. The communication was made on January 5, 2026, through an official letter to the exchange's Department of Corporate Relationships.

Company's Position on SEBI Regulation 57

The company explained its position regarding the non-applicability of the regulation through a detailed clarification. Panasonic Carbon India Co Limited stated that it operates as a single product manufacturing public listed company with specific characteristics that exempt it from this particular SEBI regulation.

Regulatory Compliance Communication

The formal communication was addressed to the Manager of the Department of Corporate Relationships at BSE Ltd, located at P. J Towers, Dalal Street, Mumbai. The letter specifically referenced Regulation 57 of the SEBI (LODR) Regulations, 2015, and provided clear reasoning for the company's position.

Brajesh Baral, Company Secretary and Compliance Officer, signed the communication digitally on January 5, 2026, at 11:05:44 +05'30'. The company requested BSE Limited to take this information on record for their regulatory compliance files.

Key Exemption Factors

The company highlighted several factors that contribute to the non-applicability of Regulation 57:

• Single product manufacturing nature of the business
• Listing limited to equity shares only
• No issuance of non-convertible securities
• Public listed status with BSE Limited exclusively

This clarification ensures proper regulatory compliance and helps maintain transparency with the stock exchange regarding the company's obligations under SEBI regulations.

Panasonic Carbon , the global electronics giant, is reportedly in advanced negotiations to acquire a controlling stake in Focus Lighting and Fixtures, a B2B light fittings manufacturer listed on NSE's SME board. This potential acquisition marks a significant move in India's electricals segment and could reshape the competitive landscape in the commercial lighting industry.

Key Details of the Potential Acquisition

• Stake Size: Panasonic Carbon is looking to acquire the entire 55% shareholding currently held by the founding Sheth family of Focus Lighting and Fixtures.
• Mandatory Open Offer: The acquisition would trigger a mandatory open offer for an additional 26% public stake.
• Estimated Cost: Based on the current market capitalization, the total acquisition cost is estimated at ₹526.00 crore.

About Focus Lighting and Fixtures

Focus Lighting and Fixtures, which went public in 2017, specializes in manufacturing commercial light fittings. The company has established itself in the B2B segment, catering to high-profile clients including Reliance Retail and DLF.

Challenges and Due Diligence

The potential deal is not without its hurdles. Due diligence has revealed certain issues that need to be resolved before the contract can be finalized. The specifics of these issues have not been disclosed, but they appear to be significant enough to warrant attention before proceeding with the acquisition.

Panasonic's Strategy in India

If successful, this acquisition would mark Panasonic's second major move in India's electricals segment since its purchase of Anchor Electricals in 2007. The electric works business currently represents over half of Panasonic Life Solutions India's sales revenue, highlighting the importance of this sector to Panasonic's operations in the country.

Company Responses

When approached for comment, a Panasonic spokesperson dismissed the speculation as 'unfounded.' On the other hand, representatives from Focus Lighting and Fixtures have not responded to queries regarding the potential acquisition.

Market Implications

This potential acquisition could have significant implications for the commercial lighting industry in India. It would allow Panasonic to strengthen its position in the B2B lighting segment and potentially leverage Focus Lighting's established client base and manufacturing capabilities.

As negotiations continue, market observers will be keenly watching for any official announcements or further developments in this potentially game-changing deal in India's electricals and lighting sector.