FY26 Annual Report filed; share-swap acquisition to pivot to infrastructure business
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Awaiting price reaction for this filing.
Niks Technology filed its FY26 Annual Report. Key items: authorised capital to rise from Rs 1 cr to Rs 10 cr, and a share-swap issue of 25.73 lakh shares at Rs 136 to acquire 100% of Dev Satya Infra (about Rs 35 cr), which triggers a SEBI open offer and brings in new promoters. MOA will be altered to add infrastructure and construction as main business. Loans up to Rs 100 cr and investments up to Rs 250 cr also need approval. AGM on Sept 30, 2026.
Major change of control and business pivot to infrastructure. Share swap may dilute existing shareholders and trigger open offer. New promoters taking over.