Draft Letter of Offer dated January 02, 2026.
Price
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Awaiting price reaction for this filing.
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.
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.