Intimation Regarding Execution of Share Purchase Agreement
Awaiting price reaction for this filing.
The promoters of Iykot Hitech Toolroom Ltd — Ms. Annjana Dugar, Ms. Likkhita Dugar, Mr. Padam Dugar, and Mr. Antariksh Dugar — have signed a Share Purchase Agreement on February 24, 2026 to sell their entire aggregate stake of 35,89,080 equity shares (34.58% of the existing voting share capital) to Aspect Global Ventures Private Limited at Rs. 8 per share. The company also forfeited 99,01,931 partly paid-up shares (with no voting rights), reducing the effective voting capital to 1,03,78,069 shares. Following the deal, the Acquirer is required to make an Open Offer of 26% to public shareholders under SEBI Takeover Regulations. Aspect Global Ventures is not a related party and currently holds no shares in the company. Upon completion, the Acquirer will take control of the company, reconstitute the board with its own nominees (replacing the existing promoter-nominated directors), and reclassify itself as the new Promoter under SEBI LODR Regulation 31A(10).
This is a complete change-of-control transaction — the existing promoter family is exiting and a new promoter (Aspect Global Ventures) will take over with majority control and a full board reconstitution. Shareholders should expect the Open Offer price of Rs. 8 per share to serve as a near-term floor, while long-term value will depend on the new management's strategy.