Draft Letter of Offer dated January 02, 2026.

Open offer triggeredListed-company acquisitionStrategic Transactions View source PDF Explain this filing

Price

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Price reactionminutes from the announcement price · days from the prior close

+3.1%Reaction day

₹42.65

prior close

₹45.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.3%+2.9% vs market

Trading & Distributors peers, median of 134sector+0.0%+3.1% vs sector

On the reaction day the stock moved 2.9 pts more than Nifty Microcap 250 and 3.1 pts more than its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-7.8

10m

-7.8

15m

-6.7

30m

-3.9

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+3.1+0.3+2.9+0.0+3.1

Next day

+0.8-0.4+1.2-0.6+1.4

+2.9-0.4+3.3-0.9+3.8

-3.8-2.3-1.6-2.0-1.9

-5.2-4.0-1.2-2.9-2.2

-3.9-4.8+0.9-2.9-1.0

-4.5-4.5+0.0-3.7-0.8

15d

+3.1-8.0+11.2-7.1+10.3

+4.3-4.2+8.4-5.8+10.1

+36.0-10.2+46.1-10.3+46.2

+12.1-11.8+23.9-12.0+24.0

UpDownMarket · Nifty Microcap 250Sector · Trading & Distributors peers, median of 134Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Lykis Limited has received the Draft Letter of Offer dated January 2, 2026, filed by the Manager to the Offer, Srujan Alpha Capital Advisors LLP. This is a mandatory open offer triggered under SEBI Takeover Regulations because Parshav Vatika LLP (Acquirer) along with K8 Products LLP and Tidagela Ventures Private Limited (PACs) signed a Share Purchase Agreement on December 18, 2025 to buy 1,30,14,966 shares (67.17%) from existing promoter Mr. Nadir Umedali Dhrolia at ₹19.01 per share, aggregating ₹24.75 crores. The open offer is for an additional 50,37,541 shares (26% of voting capital) at ₹34.50 per share in cash, worth up to ₹17.38 crores. The offer window is February 11 to February 25, 2026. Post-acquisition, the Acquirer and PACs will become the new promoters, and public shareholding will fall to 6.83%, which is below the 25% minimum public shareholding norm.

Likely market impact

This signals a complete change of control at Lykis Limited with the Acquirer set to become the new promoter. Public shareholders have the option to tender their shares at ₹34.50 during the February 11–25, 2026 window. Post-offer, the stock faces potential delisting pressure as public holding drops sharply below mandatory thresholds, although the acquirer has committed to restoring compliance.