Outcome of the Board meeting held on 18th May, 2026 attached herewith
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Lippi Systems Ltd's board approved three major items on May 18, 2026. First, the authorized share capital will increase from Rs. 10 crore to Rs. 15 crore, requiring shareholder approval. Second, the company will issue 65 lakh warrants at Rs. 56.84 per warrant (total Rs. 36.94 crore) to 5 allottees. Third, and most significant, the existing promoters (Nandlal J. Agrawal and family) have entered into a Share Purchase Agreement to sell their entire 50.97% stake (35.67 lakh shares) to the 5 warrant allottees (Vinesh, Jagdish, Shivji Karamrashi, Jagruti, and Parul Dholu), triggering a mandatory open offer under SEBI Takeover Regulations. An EGM is scheduled for June 14, 2026 to seek shareholder approval.
This is a change of control transaction where the current promoters are exiting and new promoters are acquiring majority stake. Existing shareholders will face significant dilution (warrants convert to ~48% new equity) and will receive an open offer at the same Rs. 56.84 price. The stock may see price movement around the open offer level.