LCC Infotech Limited has informed the Exchange about General Updates
LCCINFOTEC · price
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The Committee of Independent Directors of LCC Infotech approved a proposal to allot 4.2 crore equity shares on a preferential basis to a current non-promoter who will be reclassified as a promoter after the allotment. This transaction will result in a change in control of the company and will trigger an open offer under SEBI's Takeover Regulations. The issue price has been fixed at Rs. 3.55 per share, determined as per Chapter V of SEBI ICDR Regulations and includes a control premium for the change in control. All three independent directors unanimously assented to the proposal, with no dissent. A valuation report from an IBBI-registered valuer supports the pricing.
This is a significant corporate event — a new promoter is taking control of the company, which will likely be followed by an open offer to existing public shareholders at a SEBI-determined price. Existing shareholders should watch for the detailed public announcement of the open offer and evaluate whether to tender their shares. The stock may see price movement based on the perceived value the incoming promoter is paying relative to market price.