Srujan Alpha Capital Advisors LLP ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the public shareholders of Lykis Ltd ("Target Company").
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Srujan Alpha Capital Advisors, the Manager to the Offer, has filed the Draft Letter of Offer with SEBI for a mandatory open offer on Lykis Ltd. Parshav Vatika LLP (Acquirer), along with PACs K8 Products LLP and Tidagela Ventures Private Limited, is offering to buy up to 50,37,541 equity shares (26% of voting capital) from public shareholders at ₹34.50 per share, aggregating to about ₹17.38 crores assuming full acceptance. The offer is triggered by a Share Purchase Agreement signed on December 18, 2025, under which the Acquirer and PACs will purchase 1,30,14,966 shares (67.17%) from existing promoter Mr. Nadir Umedali Dhrolia at ₹19.01 per share, for a total of ₹24.75 crores. Upon completion, the Acquirer and PACs will become the new promoters of Lykis Ltd. The offer opens on February 11, 2026, and closes on February 25, 2026.
Public shareholders of Lykis Ltd can tender their shares at ₹34.50 each during the offer window (Feb 11–25, 2026). Post-completion, the company will come under the control of Parshav Vatika LLP and PACs as new promoters, and the public shareholding will drop to about 6.83%, requiring the acquirers to ensure minimum public shareholding compliance within prescribed timelines.