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Awaiting price reaction for this filing.
Lykis Limited has filed a Detailed Public Statement regarding a mandatory open offer under SEBI Takeover Regulations. Parshav Vatika LLP (Acquirer), along with K8 Products LLP (PAC 1) and Tidagela Ventures Private Limited (PAC 2), is making an open offer to acquire up to 50,37,541 equity shares (26% of voting share capital) from public shareholders at ₹34.50 per share, aggregating to ₹17.38 crore assuming full acceptance. This offer follows a Share Purchase Agreement dated December 18, 2025, where the Acquirer and PACs will buy 1,30,14,966 shares (67.17%) from existing promoter Mr. Nadir Umedali Dhrolia at ₹19.01 per share for ₹24.75 crore. Post-offer, the Acquirer and PACs will collectively hold 93.17% of Lykis Limited, resulting in a complete change of control. The acquirers intend to continue and expand the existing trading and distribution business. Srujan Alpha Capital Advisors LLP is managing the offer.
This is a change-of-control transaction. Existing public shareholders can tender shares at ₹34.50 per share, which is significantly above the negotiated SPA price of ₹19.01 paid to the promoter. Post-offer public shareholding will fall below the mandatory 25% minimum, requiring the acquirer to reduce their shareholding to comply with listing norms.