Grow House Wealth Management Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Public Shareholders of LCC Infotech Ltd ("Target Company").
LCCINFOTEC · price
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Mr. Kunjit Maheshbhai Patel (Acquirer) has triggered a mandatory Open Offer for LCC Infotech Ltd under SEBI Takeover Regulations 3(1) & 4, following a Share Purchase Agreement signed on January 3, 2026 to buy 5,80,42,357 shares (45.85% of pre-issue capital) from existing promoters Shreeram Bagla and Rachna Suman Shaw at ₹3.55 per share, aggregating to about ₹20.60 crore. The Open Offer invites public shareholders to tender up to 4,38,34,271 equity shares (26% of emerging voting capital) at the same price of ₹3.55 per share, with total open offer size of about ₹15.56 crore. A simultaneous preferential issue of 4,20,00,000 shares to the Acquirer at ₹3.55 is also underway. Post-transaction (assuming full acceptance), the Acquirer will hold about 85.34% of the company, resulting in a complete change of control and management. The Offer opens on February 26, 2026 and closes on March 12, 2026.
This is a change-of-control transaction — public shareholders can tender shares at ₹3.55, but the document itself flags that the current market price may be higher than the offer price, so shareholders should weigh market value vs. exit price. Expect a sharp swing in stock price sentiment, possible delisting discussion (public holding may fall below minimum public shareholding threshold), and complete change in board/management once the offer concludes.