Srujan Alpha Capital Advisors LLP ("Manager to the Open Offer") has submitted to BSE a copy of Detailed Public Statement in terms of Regulations 3(1) and Regulation 4 read with 13(4), 14(3), ....
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Lykis Limited (BSE Scrip Code: 530689) is the subject of a mandatory open offer by Parshav Vatika LLP (Acquirer) along with K8 Products LLP and Tidagela Ventures Private Limited (PACs). The offer is for up to 50,37,541 equity shares, representing 26% of the total voting share capital, at ₹34.50 per share, aggregating to ₹17.38 crore assuming full acceptance. The open offer has been triggered by a Share Purchase Agreement dated December 18, 2025, under which the Acquirer and PACs agreed to buy 1,30,14,966 shares (67.17%) from the existing promoter Mr. Nadir Umedali Dhrolia for ₹24.75 crore (₹18.01 per share). Post-offer, assuming full acceptance, the Acquirer and PACs will collectively hold 93.17% of the target company, resulting in a change of control and management. The Detailed Public Statement was published on December 26, 2025, in Financial Express (English), Jansatta (Hindi), and Pratahkal (Marathi).
Public shareholders can tender their shares at ₹34.50 per share during the tendering period. The change of control will result in new promoters taking over management, with the acquirers intending to continue and expand the existing trading and distribution business. Public shareholding may fall below the mandatory 25% threshold, and the acquirer has committed to taking steps to restore compliance with listing rules.