Grow House Wealth Management Private Ltd has submitted to the Exchange a copy of letter of offer to the public shareholders of the company.
LCCINFOTEC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mr. Kunjit Maheshbhai Patel has launched a mandatory open offer to buy 4,38,34,271 equity shares (26% of the emerging voting share capital) of LCC Infotech Limited at ₹4.55 per share, totaling up to ₹19.94 crore. This follows a Share Purchase Agreement signed on January 3, 2026, under which the acquirer will purchase 5,80,42,357 shares (34.43%) from existing promoters Shreeram Bagla and Rachna Suman Shaw at ₹3.55 per share, triggering a change of control. Post-offer, the acquirer is expected to hold 85.34% of the company. The offer opens on April 6, 2026 and closes on April 20, 2026. The document notes that the current market price of the stock is higher than the open offer price of ₹4.55.
This is a change-of-control event for LCC Infotech with the current promoters exiting and a new individual acquirer taking over. Public shareholders can tender shares at ₹4.55, but since the market price is reportedly higher, they may be better off selling on the open market. Post-offer, the acquirer's 85.34% holding exceeds the 75% open offer threshold and may require the acquirer to bring public shareholding back to the minimum required level.