Independent Directors Committee (IDC) have submitted to BSE recommendations under Regulation 26(7) of SEBI (SAST) Regulations, 2011, for the Open Offer to Public Shareholders of Iykot Hitech ....
Awaiting price reaction for this filing.
Acquirer Aspect Global Ventures Private Limited has made a mandatory open offer to buy up to 26,98,298 fully paid-up equity shares (26% of voting capital) of Iykot Hitech Toolroom Ltd at ₹8.50 per share, aggregating up to ₹2.29 crore. The offer is being made under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The Independent Directors Committee (IDC) reviewed the offer and submitted its recommendation to BSE, concluding that the offer price of ₹8.50 appears fair and reasonable, subject to a detailed fairness opinion from the appointed securities advisor. The recommendations were published in Financial Express, Jansatta, Makkal Kural, and Mumbai Lakshadeep on June 8, 2026. Note: The Board had earlier forfeited 99,01,931 partly paid-up shares (January 9, 2026), bringing the voting share capital down to 1,03,78,069 shares on which the 26% offer size is calculated.
Public shareholders now have the option to tender their shares at ₹8.50 per share in cash if they wish to exit. The IDC's positive preliminary view on the price suggests the offer is considered reasonable, giving shareholders a clean exit opportunity. The deal also indicates a change in control/strategic investor entering the small-cap company.