Submission of Board Meeting Outcome held on 24th February, 2026.
Awaiting price reaction for this filing.
The board of Iykot Hitech Toolroom Ltd, at its meeting on 24th February 2026, approved the execution of a Share Purchase Agreement (SPA) for a change of control. Promoters Ms. Annjana Dugar, Ms. Likkhita Dugar, Mr. Padam Dugar, and Mr. Antariksh Dugar have agreed to sell 35,89,080 equity shares (34.58% of the existing voting share capital) to Aspect Global Ventures Private Limited at Rs. 8 per share, implying a promoter sale value of about Rs. 2.87 crore. Following the SPA, the acquirer is required to make a mandatory open offer for 26% of the voting share capital to public shareholders. The board also noted the forfeiture and cancellation of 99,01,931 partly paid-up shares, which has reduced the existing voting share capital to 1,03,78,069 equity shares. Upon completion, the acquirer will gain control of the company, nominate new directors, and replace the existing promoter-nominated board members.
This is a change-of-control transaction — Aspect Global Ventures will become the new promoter, and existing public shareholders will get a chance to exit via the mandatory open offer at a price to be determined. The SPA price of Rs. 8 per share serves as a key reference point for the open offer price; investors should watch for the detailed public statement and open offer timeline.