Rakesh Ramanlal Shah and Komal Infotech Private Limited have launched an open offer to acquire a 26% stake in ECS Biztech Limited at ₹10.50 per equity share.

The acquirers seek to purchase up to 53,44,313 fully paid-up equity shares of face value ₹10 each from eligible public shareholders. The transaction is structured in compliance with Regulation 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Offer Mechanics and Timeline

The offer opens on September 17, 2026, and closes on September 30, 2026. Consideration will be payable in cash. Beeline Capital Advisors Private Limited serves as the Manager to the Offer, while Purva Sharegistry (India) Private Limited acts as the Registrar.

The Letter of Offer was dispatched electronically and physically on September 9, 2026, to shareholders identified as on September 2, 2026. All public shareholders, including those acquiring shares after the identified date, remain eligible to participate until the offer closes.

Regulatory Approvals and Recommendations

The Committee of Independent Directors (IDC) of ECS Biztech recommended the offer on September 15, 2026. The IDC concluded that the ₹10.50 offer price is fair and reasonable, noting it exceeds the price determined under Regulation 8(1) and 8(2) of the SEBI SAST Regulations. The committee also observed that the company’s equity shares are not frequently traded on the BSE.

SEBI issued comments on the Draft Letter of Offer on August 31, 2026. These comments have been incorporated into the final Letter of Offer dated September 5, 2026. Notably, SEBI advised reclassifying Komal Infotech Private Limited from a person acting in concert to Acquirer-2.

Key Dates

Participation Process

Shareholders holding physical shares must approach a selling broker with verified documents, including physical share certificates. Demat holders need only instruct their stock brokers to tender shares; no Form of Acceptance is required. Shareholders who did not receive the Letter of Offer can download it from the SEBI or BSE websites or submit a plain paper application via their broker before the offer closes.

ECS Biztech Limited has scheduled its 16th Annual General Meeting for September 30, 2026. The company will conduct the meeting via video conference or other audio-visual means.

Key Dates and Procedures

The register of members and share transfer books will remain closed from September 24, 2026, to September 30, 2026, inclusive. This closure facilitates the preparation of the list of shareholders entitled to vote.

Voting Process

Shareholders holding shares in physical or dematerialized form as of the record date are eligible to cast votes electronically. The remote e-voting period begins on September 27, 2026, at 9:00 am and concludes on September 29, 2026, at 5:00 pm. Voting will not be permitted after the end time.

Annual Report Dispatch

The Notice of the 16th AGM and the Annual Report for the financial year 2025-26 have been dispatched via electronic mode only to members whose email addresses are registered with Depositories or Depository Participants. The documents are also available on the company’s website.

In accordance with Regulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has sent physical letters to shareholders who do not have registered email addresses. These letters provide a weblink to access the Annual Report and AGM notice on the company website, National Securities Depositories Limited, and BSE Limited platforms.

Members wishing to obtain a physical copy of the report may write to the company at secretarial@ecscorporation.com , mentioning their Folio No., DP ID, and Client ID. Those without registered emails can update their details by approaching their respective Depository Participant or the Registrar and Transfer Agent, Purva Sharegistry India Pvt. Ltd.

The intimation was issued pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 91 of the Companies Act, 2013. Nilam Viren Makwana, Company Secretary and Compliance Officer, signed the disclosure.