Aspect Global Ventures Private Limited has launched an 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, aggregating to ₹2,29,35,533, represents 26% of the voting share capital of the target company. The transaction is being conducted pursuant to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The offer size is based on the existing voting share capital of 1,03,78,069 fully paid-up equity shares. This figure follows the forfeiture of 99,01,931 partly paid-up shares, which were approved for cancellation by the Board of Directors of Iykot Hitech Toolroom Limited on January 9, 2026. BSE had previously informed the company regarding the forfeiture of these shares via notice no. 20260511-25 dated May 11, 2026, though the corporate action remains under process.

Saffron Capital Advisors Private Limited has been appointed as the manager to the offer. A reminder advertisement regarding the open offer was published on June 16, 2026, in several newspapers including Financial Express, Jansatta, Makkal Kural, and Mumbai Lakshadeep. Cameo Corporate Services Limited is acting as the registrar to the open offer.

Offer Details

Key Contacts

The open offer by Aspect Global Ventures Private Limited to acquire up to 26,98,298 fully paid-up equity shares of Iykot Hitech Toolroom Limited at ₹8.50 per share opens on June 10, 2026. The offer, representing 26% of the voting share capital, aggregates to a maximum consideration of ₹2.29 crore and closes on June 23, 2026. The Committee of Independent Directors has recommended the offer, deeming it fair and reasonable in accordance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The offer price is at a premium to the highest negotiated price of ₹8 per share for the acquisition that triggered the obligation. The offer is not conditional upon any minimum level of acceptance. Saffron Capital Advisors Private Limited has been appointed as the manager to the open offer. The acquirer has deposited the entire offer consideration into an escrow account with ICICI Bank Limited.

The board of directors of Iykot Hitech Toolroom Limited has approved the forfeiture of 99,01,931 partly paid-up equity shares. Consequently, 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 BSE acquisition window.

Offer Details

The Committee of Independent Directors, comprising Mr. Suresh Rajasekar, Mr. Syed Munawwar Hussain, and Mr. Velli Paramasivan, reviewed the Public Announcement, Detailed Public Statement, and Letter of Offer. They noted that the equity shares are infrequently traded and the offer price was determined based on a valuation report by an independent registered valuer.