In a recent development in the Indian stock market, an open offer for Lords Mark Industries Limited (formerly known as Lords Mark India Limited) has concluded without any shares being tendered by public shareholders. This offer, initiated by Mr. Sachidanand Hariram Upadhyay, aimed to acquire up to 2,60,000 equity shares, representing 26% of the company's equity and voting share capital.

Open Offer Details

The open offer, which ran from October 13 to October 28, 2025, was priced at Rs. 30.00 per share. Despite the opportunity presented to shareholders, the offer received no response, resulting in no changes to the company's shareholding structure.

Shareholding Structure

The acquirer, Mr. Sachidanand Hariram Upadhyay, had previously acquired a significant stake in Lords Mark Industries through a Share Purchase Agreement. This acquisition remains unchanged following the open offer:

Corporate Governance Update

In related news, Lords Mark Industries Limited has announced the cancellation of its Board Meeting originally scheduled for November 4, 2025. The meeting was intended to consider and approve the unaudited financial results for the quarter and half-year ended September 30, 2025. The company cited unavoidable administrative reasons for the cancellation and stated that a revised date for the Board Meeting would be communicated in due course.

Market Implications

The conclusion of the open offer without any shares being tendered suggests that existing shareholders may be confident in the current management and future prospects of Lords Mark Industries. However, it's important to note that various factors can influence shareholders' decisions during such offers.

As the company moves forward, investors and market watchers will likely keep a close eye on Lords Mark Industries' financial performance and any further corporate actions. The rescheduling of the Board Meeting to review financial results will be an important event to monitor for insights into the company's recent performance.

Navigant Corporate Advisors Limited managed the open offer process, ensuring compliance with SEBI regulations throughout the offer period.

Lords Mark , formerly known as Kratos Energy & Infrastructure Limited, has announced a change in its statutory auditors. The company's current auditors, M/s H. G. Sarvaiya & Co., Chartered Accountants, have resigned after completing their audit term and decided not to seek reappointment.

Reasons for Auditor Resignation

The outgoing auditors, M/s H. G. Sarvaiya & Co., cited two primary reasons for their decision:

1. Completion of their audit term
2. Decision not to seek reappointment for subsequent financial years

Lords Mark India Limited has confirmed that no material concerns were raised by the auditors during their tenure.

New Auditor Appointment

To fill the casual vacancy created by this resignation, the Board of Directors of Lords Mark India Limited has taken prompt action:

The Board of Directors appointed M/s Sanjeev S. Gupta & Associates, Chartered Accountants, based on the Audit Committee's recommendation. The new auditors, established in 1998, have extensive experience in statutory, internal and special audits for listed companies, PSUs and large corporates. They are also empaneled with C&AG and RBI.

Appointment Details

The appointment of M/s Sanjeev S. Gupta & Associates is subject to shareholder approval at the next General Meeting. Their term will remain valid until the conclusion of the next Annual General Meeting.

Additional Information

The company has assured that the firm's partners have no relationship with the company's directors, key management personnel or promoters.

This change in statutory auditors marks a significant corporate action for Lords Mark India Limited.