Saffron Capital Advisors Pvt. Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Letter of Offer ("LOF") to the Public Shareholders of Iykot Hitech Toolroom Ltd ("Target Company").
Awaiting price reaction for this filing.
Aspect Global Ventures Private Limited is making an open offer to buy up to 26,98,298 equity shares (26% of voting share capital) of Iykot Hitech Toolroom Ltd at ₹8.50 per share, totaling up to ₹2.29 crore. This is a mandatory open offer triggered under SEBI Takeover Regulations after the acquirer entered a Share Purchase Agreement on February 24, 2026 with the promoter family (Dugars) to purchase 34.58% of shares at ₹8 per share, leading to a change in control. The tendering window is June 10 to June 23, 2026. Notably, the company recently forfeited 99 lakh partly paid-up shares, reducing its voting share capital to about 1.04 crore shares on which the 26% offer size is calculated.
Public shareholders can tender their shares at ₹8.50 during the June 10-23, 2026 window. The offer signals a change in control to Aspect Global Ventures, which may bring strategic shifts; however, acceptance is on a proportionate basis if oversubscribed, and shares tendered cannot be withdrawn during the period.