The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Kunjit Patel
LCCINFOTEC · price
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Kunjit Maheshbhai Patel, a non-promoter, has disclosed the acquisition of 4.2 crore equity shares of LCC Infotech, representing 24.91% of the company's share capital. The shares were acquired via preferential allotment on 06/03/2026. Prior to this acquisition, Patel held NIL shares in the company, and post-acquisition his holding stands at 24.91% (4,20,00,000 shares). The preferential allotment expanded the company's equity share capital from 12.66 crore shares to 16.86 crore shares (face value Rs. 2 each), effectively diluting existing shareholders by about 25%. Since the acquirer is not part of the promoter group, this is a fresh large investor entering the company through a privately placed share issue rather than a promoter increasing stake.
Existing shareholders face significant dilution (~25%) from this preferential allotment, which has brought in a single new non-promoter shareholder with nearly a quarter-stake. The acquirer's holding of 24.91% sits just below the 25% open offer trigger threshold under SEBI takeover rules, which is unusual and may attract market attention regarding the company's control and future direction.