iykot hitech toolroom appointed Vaibhav Agarwal, Rajesh Chunilal Bhojani, and Arjun Bikas Dutta as Additional Directors in the Non-Executive Independent Category on July 21, 2026. The Board of Directors also accepted the resignations of Velli Paramasivam, Syed Munnawar Hussain, and Suresh Rajasekar from their positions as Non-Executive Independent Directors. These changes were approved during a board meeting held on July 21, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015.

The new appointees bring significant experience in banking, financial services, and regulatory governance. Mr. Vaibhav Agarwal is a qualified Chartered Accountant with over 23 years of experience in strategy and risk management. Mr. Rajesh Chunilal Bhojani holds a Master's in Management Studies and has over 41 years of experience, including leadership roles at UTI Mutual Fund and Aditya Birla Sun Life Insurance. Mr. Arjun Bikas Dutta is a financial consultant with over 35 years of experience, including leadership roles at the Reserve Bank of India and HDB Financial Services.

The resignations of Mr. Syed Munnawar Hussain and Mr. Suresh Rajasekar were effective from the close of business hours on July 21, 2026, due to personal reasons and preoccupation, respectively. Both directors confirmed there were no material reasons for their resignations other than those stated. The resignation of Mr. Velli Paramasivam was also noted by the Board.

Following these appointments and resignations, the Board reconstituted its committees. Mr. Vaibhav Agarwal has been appointed Chairperson of the Audit Committee, while Mr. Rajesh Chunilal Bhojani will chair the Nomination and Remuneration Committee. The Stakeholders Relationship Committee will be chaired by Mr. Sukumar Anand Shetty.

The Rights Issue Committee has also been reconstituted, with Vaishali Sharad Lad serving as Chairperson. The appointments of the new directors are subject to shareholder approval and are valid up to the date of the next Annual General Meeting or the last date on which the Annual General Meeting is required to be held, whichever is earlier.

Committee Composition

Aspect Global Ventures Private Limited's open offer to acquire up to 26% of Iykot Hitech Toolroom Limited concluded with zero shares tendered by public shareholders. The offer, which opened on June 10, 2026, and closed on June 23, 2026, was priced at ₹8.50 per share for a total consideration of ₹2,29,35,533. No shares were accepted, and the date of payment of consideration was scheduled for July 01, 2026.

The open offer was triggered by the acquirer's prior acquisition of 35,89,080 equity shares, representing 34.58% of the voting share capital, on April 24 and April 27, 2026. This transaction gave the acquirer control over the target company. The offer size was calculated based on an existing voting share capital of 1,03,78,069 fully paid-up equity shares, following the forfeiture of 99,01,931 partly paid-up shares.

Offer Details

Acquisition Outcome

The acquirer's shareholding remains at 35,89,080 shares, or 34.58% of the voting share capital, while public shareholders continue to hold 65,56,429 shares, representing 63.17%. The forfeiture of 99,01,931 partly paid-up shares was approved by the board on January 9, 2026, and BSE notice no. 20260511-25 dated May 11, 2026, confirmed this action, though the corporate action process was still pending at the time of the advertisement.