BSL Infrastructure buys 48% of P.M. Telelinnks, seizes control at INR 6.20 a share
What's the deal? BSL Infrastructure Ltd has completed the acquisition of 48,38,733 equity shares — 48.03% of P.M. Telelinnks Ltd — at INR 6.20 per share on July 29, 2026. The purchase, executed under a Share Purchase Agreement dated September 5, 2025, hands BSL control and makes it the company's sole promoter under SEBI takeover rules.
Who sold? The outgoing promoter group — including members of the Surana family, Kaveri (India) Limited, and Surana Securities Limited — sold their stake to BSL. Under SEBI listing regulations, that group has been re-classified as non-promoters.
What changes? The deal triggered a full board overhaul. Four incumbent directors resigned with immediate effect, and four new directors — Neerav Hans, Hari om Parkash, Kawal Singh, and Kritika Gupta — were appointed for five-year terms, subject to shareholder approval.
The new hires: Hari om Parkash, a director of BSL Scaffolding Limited with over 26 years in the scaffolding and formwork industry, was named chief executive officer and whole-time director, replacing the outgoing CEO. Niraj Agarwal takes over as chief financial officer. Neerav Hans, an industrialist with over 28 years in construction and engineering, becomes non-executive chairman.
The signal: The change of control shifts P.M. Telelinnks from long-standing family ownership to an infrastructure-focused acquirer, with new leadership drawn from BSL's construction and scaffolding businesses. The move points to a strategic repositioning of the listed company around BSL's core industrial expertise.
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