LCC Infotech Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on February 02, 2026
LCCINFOTEC · price
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LCC Infotech has called an EGM on February 2, 2026 (via video conferencing) to seek shareholder approval for eight major items. The biggest is a change of control: 4.2 crore equity shares will be issued on a preferential basis to Mr. Kunjit Maheshbhai Patel at Rs. 3.55 per share (Rs. 14.91 crore), after which he will be classified as the new promoter following an open offer. In addition, 22.56 crore convertible warrants (Rs. 80.09 crore at Rs. 3.55 each) will be issued to 42 non-promoter allottees. The company also proposes to increase its authorized share capital from Rs. 51 crore to Rs. 80 crore, shift its registered office from West Bengal to Gujarat, and completely overhaul its business objects to include music/film production, jewellery, real estate/construction, and tours & travel. Other items include regularization of a new Executive Director, enhanced borrowing power up to Rs. 250 crore, and approval for loans/guarantees up to Rs. 250 crore.
This is a transformative event involving a change of promoter, large-scale equity dilution (up to ~26.76 crore new shares/warrants against existing capital base), a sharp pivot into unrelated businesses, and a corporate domicile shift to Gujarat. Existing shareholders will face significant dilution and should expect stock-price volatility around the EGM date; the identity and strategy of the new promoter will be critical to future value.