Public Announcement - Open Offer.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 6.5 pts more than Nifty Microcap 250 and 7.3 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.
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The promoter of Lykis Limited, Nadir Umedali Dhrolia, has signed a Share Purchase Agreement dated December 18, 2025 to sell his entire 67.17% stake (1,30,14,966 shares) to Parshav Vatika LLP along with PACs K8 Products LLP and Tidagela Ventures Private Limited at Rs. 19.01 per share, aggregating about Rs. 24.75 crore. This deal has triggered a mandatory open offer under SEBI Takeover Regulations for an additional 26% (50,37,541 shares) from public shareholders at Rs. 34.50 per share, totaling around Rs. 17.38 crore in cash. Post-completion, the existing promoter will exit and relinquish control, and the Acquirer-PAC group will become the new promoter. The shares are noted as infrequently traded on BSE, and there is no intention to delist the stock.
This is a complete change of control event for Lykis Limited — investors can tender shares in the open offer at Rs. 34.50, which is meaningfully above the negotiated SPA price of Rs. 19.01. The premium in the open offer price provides a short-term exit opportunity for public shareholders, though post-offer liquidity may remain thin given the stock's already infrequent trading.