Recommendation of Independent Directors Committee published in newspaper dated March 13, 2026.
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Lykis Ltd has submitted the written reasoned recommendation of its Committee of Independent Directors (IDC) regarding the ongoing Open Offer to acquire up to 50,37,541 equity shares (26% of voting share capital) at ₹34.50 per share. The Open Offer is being made by Parshav Vatika LLP (Acquirer) along with K8 Products LLP and Tidagela Ventures Private Limited (PACs) as Persons Acting in Concert. The IDC approved its recommendation at a meeting on March 11, 2026, and the same was published on March 13, 2026 in Financial Express (English), Jansatta (Hindi), and Pratahkal (Marathi) newspapers. The filing has been made under Regulation 26(7) of the SEBI Takeover Regulations, 2011, and Regulation 30 of the SEBI LODR Regulations, 2015.
This is a procedural compliance filing related to an ongoing Open Offer. Shareholders should review the IDC's written recommendation in newspapers to understand the independent directors' reasoned view on whether the ₹34.50 per share offer price is fair, before deciding to tender their shares. The filing itself is a mandatory disclosure and does not directly impact the stock price.