Aspect Global Ventures Private Limited has initiated a mandatory open offer to acquire up to 26,98,298 fully paid-up equity shares of Iykot Hitech Toolroom Limited at a price of ₹8.50 per share. The offer, which represents 26% of the voting share capital of the target company, aggregates to a maximum consideration of ₹2.29 crore. The tendering period for the offer is scheduled to commence on June 10, 2026, and conclude on June 23, 2026.

The open offer follows the acquisition of 35,89,080 equity shares, representing 34.58% of the voting share capital, by the acquirer from the erstwhile promoters on April 24 and April 27, 2026. Consequently, the acquirer has obtained joint control over the target company and has been classified as a promoter. The offer price of ₹8.50 per share was determined in accordance with SEBI (SAST) Regulations, 2011, based on a valuation report by an independent registered valuer, as the shares are infrequently traded.

Saffron Capital Advisors Private Limited has been appointed as the manager to the open offer, while Cameo Corporate Services Limited will act as the registrar. The acquirer has deposited the entire offer consideration of ₹2.29 crore into an escrow account with ICICI Bank Limited. The offer is not conditional upon any minimum level of acceptance and is not a competing offer.

Offer Details

The board of directors of Iykot Hitech Toolroom Limited has approved the forfeiture of 99,01,931 partly paid-up equity shares, which do not carry voting rights. Accordingly, the existing voting share capital stands at 1,03,78,069 fully paid-up equity shares, which serves as the basis for computing the offer size. Public shareholders holding shares in both dematerialized and physical forms are eligible to participate in the offer through the stock exchange mechanism.