Promoter Kunal N. Gandhi of Lyka Labs Limited increased his shareholding by acquiring 14,176 equity shares through open market purchases on June 29, 2026. This acquisition raised his total stake to 35,14,338 equity shares, representing 9.85% of the company's share capital, up from a previous 9.81%. The transactions were executed on both the National Stock Exchange of India Limited and BSE Limited for a total value of ₹10,28,414.16.

The disclosure was submitted to the exchanges in compliance with Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. The filing was signed by Kunal N. Gandhi on behalf of the Promoter & Promoters Group on June 29, 2026.

Details of Acquisition

The purchase was executed exclusively by Mr. Kunal Gandhi in his capacity as a Promoter. The acquisition was conducted via the open market mechanism on the NSE and BSE. The equity shares acquired carry voting rights.

Shareholding Changes

The table below details the specific changes in Mr. Gandhi's holding:

The total equity share capital of Lyka Labs Limited remains 3,56,90,000 shares. Following this transaction, the total holding of the acquirer along with Persons Acting in Concert (PAC), including entities such as Enai Trading and Investment Private Limited and Lyka Generics Limited, stands at 57,91,851 shares, representing 16.23% of the total share capital.

Lyka Labs has received a show cause cum demand notice from the Office of the Principal Commissioner of CGST & Central Excise, Mumbai East, demanding Rs. 73,22,077. The notice, vide Centralised SCN No. CGST/ME/AE/AC/Lyka/2026-27, was issued on June 11, 2026, and received by the company on June 17, 2026. It alleges that the pharmaceutical entity claimed erroneous refunds of Integrated Goods and Services Tax (IGST) on exports made under Advance Authorization, contravening Rule 96(10) of the CGST Rules, 2017.

The department contends that the company availed of ineligible refunds by claiming IGST on exports while simultaneously benefiting from tax exemptions on imports under advance licenses. The total demand includes Rs. 67,92,481 related to exports under advance licenses for FY 2021-22 to FY 2024-25, and Rs. 5,29,596 related to exports made with a 0.1% tax rate for FY 2020-21 to FY 2023-24. The authorities have invoked Section 74 and Section 74A of the CGST Act, 2017, to recover the amount along with interest and potential penalties.

In its response to the exchange, Lyka Labs disputed the demand, arguing that Rule 96(10) was omitted from the CGST Rules effective October 2024 without a saving clause. The company contends that this omission nullifies the basis for the allegations and renders the continuation of proceedings legally untenable. It further cited a Kerala High Court judgment in the case of Sance Laboratories Pvt. Ltd. v. UOI & Ors, which declared the rule ultra vires.

The company disclosed that it is exercising its right to defend the allegations. Management stated that the demand is disputed and that there is no material impact on the financials, operations, or other activities of the company. The notice requires the company to show cause within 30 days of receipt as to why the demand should not be confirmed.

Breakdown of Demand