Board approves 100% acquisition of Ricardo Elevators via share swap, drops merger plan

Listed-company acquisitionDeal cancelledStrategic Transactions View source PDF Explain this filing

Price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-1.2%Reaction day

₹325.00

prior close

—

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.1%-1.3% vs market

Industrial Products peers, median of 125sector-0.1%-1.1% vs sector

On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 1.1 pts less than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

—

10m

—

15m

—

30m

—

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.2+0.1-1.3-0.1-1.1

Next day

-4.9+0.2-5.1-0.8-4.1

-4.6+0.6-5.2-0.5-4.1

-5.6-0.0-5.6-0.6-5.1

-0.9+0.5-1.4-0.4-0.5

+4.0+0.8+3.2+0.0+4.0

+8.9+0.6+8.3-0.6+9.5

15d

-3.7+1.3-5.0+0.4-4.0

+10.4-1.4+11.7-0.8+11.1

+5.2-0.6+5.8-0.5+5.7

—————

UpDownMarket · Nifty Microcap 250Sector · Industrial Products peers, median of 125Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

L. T. Elevator board scrapped its earlier merger plan with Ricardo Elevators and instead approved acquiring 100% of Ricardo via share swap. Up to 4,61,000 equity shares will be issued at Rs. 281.86 each (total about Rs. 12.99 crore) to Ricardo's four shareholders. Ricardo, a Hyderabad-based elevator firm incorporated in 2024 with FY26 turnover of Rs. 12.08 crore, will become a wholly owned subsidiary to help build a pan-India B2C distribution network. Board also set Aug 10 as the relevant date and Sept 9 for the 18th AGM.

Likely market impact

Share swap may cause minor dilution for existing holders. Acquisition adds elevator distribution arm with pan-India reach. Subject to shareholder and regulatory approvals.