LCC Infotech Limited has received a substantial acquisition disclosure from Kunjit Maheshbhai Patel under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure, filed on March 9, 2026, pertains to Patel's acquisition of 4,20,00,000 equity shares representing 24.91% stake in the company through preferential allotment.

Acquisition Details and Regulatory Filing

Kunjit Maheshbhai Patel, based in Ahmedabad, Gujarat, formally disclosed his substantial acquisition to both NSE (Symbol: LCCINFOTEC) and BSE (Scrip Code: 532019) on March 9, 2026. The acquisition was completed on March 6, 2026, through preferential allotment at Rs. 4.55 per share, generating total proceeds of Rs. 19,11,00,000 for the company.

Shareholding Transformation

The disclosure reveals a complete transformation in Patel's shareholding position. Prior to the acquisition, he held no shares in LCC Infotech Limited. Post-acquisition, he now holds 4,20,00,000 shares representing 24.91% of the company's expanded share capital. The acquirer currently does not belong to the promoter/promoter group category.

Capital Structure Impact

The preferential allotment significantly altered LCC Infotech's capital structure. The company's total equity share capital increased from 12,65,93,350 shares to 16,85,93,350 shares, each with a face value of Rs. 2.00. The expanded capital base strengthens the company's financial position while providing Patel with substantial influence in corporate governance.

Regulatory Compliance Framework

The disclosure filing demonstrates compliance with SEBI's substantial acquisition regulations. Patel's acquisition of 24.91% stake triggers mandatory disclosure requirements under Regulation 29(1). The filing includes comprehensive details about voting rights, share encumbrances, and convertible securities, all of which remain nil except for the acquired equity shares. The transaction was executed through preferential allotment mechanism, providing the company with fresh capital while establishing Patel as a significant shareholder in LCC Infotech Limited.

LCC Infotech Limited has announced the outcome of its board meeting held on March 05, 2026, addressing key management changes and operational updates. The meeting, conducted from 04:30 PM to 05:00 PM, resulted in simultaneous appointment and resignation of the Company Secretary cum Compliance Officer position, along with office relocation decisions.

Board Meeting Resolutions

The board meeting transacted three primary business items under Regulation 30 of SEBI (LODR) Regulations, 2015. The company has submitted detailed documentation to both National Stock Exchange of India Limited and BSE Limited as per regulatory requirements.

Company Secretary Transition

The board approved the appointment of Ms. Deepshikha Khandelwal as Company Secretary cum Compliance Officer, effective March 05, 2026, while simultaneously accepting the resignation of Mr. Vineet Jain from the same position due to personal reasons.

New Company Secretary Profile

Ms. Deepshikha Khandelwal brings qualified expertise to her new role as Company Secretary cum Compliance Officer. According to the official filing, she is a qualified Company Secretary from the Institute of Company Secretaries of India with more than 5 years of experience in compliance matters, Companies Act, and other corporate law related matters.

Resignation Details

Mr. Vineet Jain submitted his resignation letter dated March 05, 2026, citing personal reasons as the sole factor for his decision. In his resignation letter, he specifically mentioned that there were no other reasons for the resignation except personal circumstances. He expressed gratitude for the support and cooperation received during his tenure and requested immediate relief from Company Secretary duties.

Office Relocation Decision

The board approved shifting the company's book of accounts keeping location from the previous address at Primarc Tower, Block DN 36, Sector V, Floor 8, Unit 801, Bidhan Nagar CK Market, North 24 Parganas, Saltlake, West Bengal, India, 700091 to Office No. 701, Silicon Tower, Behind Samartheshwar Mahadev, Nr. Law Garden, Ahmedabad, Gujarat - 380006.

Regulatory Compliance

The company has fulfilled its disclosure obligations by submitting comprehensive documentation including detailed profiles and resignation letters to stock exchanges as required under SEBI circular CIR/CFD/CMD/4/2015 dated September 09, 2015. Director Akhilkumar Kotak (DIN: 11462460) digitally signed all official documents on March 05, 2026.