The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Shreeram Bagla
LCCINFOTEC · price
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Shreeram Bagla, a non-promoter acquirer, has acquired 1,47,56,791 equity shares (11.66% of total capital) of LCC Infotech Ltd through an off-market Share Purchase Agreement dated 24/07/2024, with the transaction effectively taking place on 10/06/2025. This has more than doubled his stake from 14,268,975 shares (11.27%) to 29,025,766 shares (22.93%) of the company. The acquisition crossed the 10% and 20% disclosure thresholds under SEBI's takeover regulations, triggering this mandatory filing. The mode of acquisition is entirely off-market (not via open market purchases), suggesting a negotiated block deal with an existing shareholder.
A single non-promoter entity consolidating nearly 23% stake via an off-market block deal indicates a significant change in the company's shareholder base and could set the stage for further open market purchases or a potential takeover attempt. Retail investors should monitor for further disclosures and any shifts in board composition or control dynamics.