LCC Infotech Limited has informed the Exchange regarding Board meeting held on January 03, 2026.
LCCINFOTEC · price
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LCC Infotech's board has approved a major change of control: acquirer Kunjit Maheshbhai Patel will buy up to 5.80 crore equity shares (45.85% of paid-up capital) from existing promoters at Rs. 3.55 per share, triggering a mandatory open offer to public shareholders. The board also approved a preferential allotment of 4.20 crore equity shares to the acquirer at Rs. 3.55 each (total ~Rs. 14.91 crore) and up to 22.56 crore convertible warrants to 42 non-promoter allottees at Rs. 3.55 each (total ~Rs. 80.09 crore). The authorized share capital will be raised from Rs. 51 crore to Rs. 80 crore. The company is also pivoting its main business objects to include entertainment/film production, jewellery, real estate, and travel businesses, and shifting its registered office from West Bengal to Gujarat. An EGM is scheduled for February 02, 2026 to seek shareholder approval.
This is a transformative event: a near-complete change of control with a new promoter taking over, significant equity dilution from preferential allotments (potentially ~57% expansion of share base on full warrant conversion), and a sharp shift in business direction. Shareholders should expect high dilution, possible stock price pressure from the open offer overhang, and a fundamentally different business going forward pending EGM approval.