NewsLCC Infotech Limited: Kunjit Maheshbhai Patel Announces Open Offer for 26% Stake Acquisition at ₹3.55 Per ShareLCC Infotech Limited: Kunjit Maheshbhai Patel Announces Open Offer for 26% Stake Acquisition at ₹3.55 Per Share
Kunjit Maheshbhai Patel announces mandatory open offer to acquire 4,38,34,271 equity shares (26% stake) in LCC Infotech Limited at ₹3.55 per share, totaling ₹15,56,11,663. The offer follows a share purchase agreement with existing promoters for 34.43% stake acquisition. Upon completion, Patel will hold 85.34% of the IT training company, becoming the new promoter while current promoters will be reclassified as public shareholders.
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Kunjit Maheshbhai Patel has announced a mandatory open offer to acquire a significant stake in LCC Infotech Limited, marking a major ownership transition in the IT training and software development company.
Open Offer Details
The open offer seeks to acquire up to 4,38,34,271 fully paid-up equity shares of face value ₹2.00 each, representing 26% of the emerging voting share capital. The key parameters of the offer include:
| Parameter | Details |
|---|---|
| Offer Price | ₹3.55 per equity share |
| Total Shares | 4,38,34,271 equity shares |
| Stake Percentage | 26% of emerging voting capital |
| Total Consideration | ₹15,56,11,663 |
| Payment Mode | Cash |
Share Purchase Agreement
The open offer follows a share purchase agreement executed on January 03, 2026, between Patel and the existing promoters. Under this agreement:
| Aspect | Details |
|---|---|
| Sellers | Shree Ram Bagla and Rachna Suman Shaw |
| Shares to be Acquired | 5,80,42,357 equity shares |
| Acquisition Percentage | 34.43% of emerging voting capital |
| Purchase Price | ₹3.55 per share |
| Total Consideration | ₹20,60,50,368 |
| Advance Payment | ₹6,00,00,000 |
Acquirer Profile
Kunjit Maheshbhai Patel, aged 41 years, is an Indian resident with a net worth of ₹4,749.74 lakhs as of January 01, 2026. He currently serves as Managing Director cum Promoter of RFBL Flexi Pack Limited and holds director positions in Meridian Finance Private Limited and N Events Club Limited.
Target Company Overview
LCC Infotech Limited, incorporated in 1985, operates in IT training through learning centers, software development, and corporate skill development programs. The company's key financial highlights include:
| Financial Metric | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
|---|---|---|---|
| Total Revenue (₹ Lakhs) | 52.30 | 298.12 | 171.12 |
| Net Loss (₹ Lakhs) | (215.84) | (5,332.44) | (64.08) |
| Earnings Per Share (₹) | (0.17) | (4.21) | (0.05) |
| Net Worth (₹ Lakhs) | 67.06 | 282.90 | 5,815.34 |
Preferential Issues
The company's board has also approved preferential issues:
- Equity Shares: 4,20,00,000 shares at ₹3.55 per share to the acquirer
- Convertible Warrants: 22,56,05,633 warrants at ₹3.55 per warrant, convertible after ten working days from offer closure
Post-Acquisition Structure
Upon completion of all transactions, assuming full acceptance:
| Component | Shares | Percentage |
|---|---|---|
| SPA Acquisition | 5,80,42,357 | 34.43% |
| Open Offer | 4,38,34,271 | 26.00% |
| Preferential Issue | 4,20,00,000 | 24.91% |
| Total Holding | 14,38,76,628 | 85.34% |
Regulatory Compliance
The offer complies with SEBI (SAST) Regulations, 2011, with Grow House Wealth Management Private Limited appointed as the manager. The company has deposited ₹3,90,00,000 (25% of offer consideration) in an escrow account with ICICI Bank Limited.
Market Information
LCC Infotech shares are listed on BSE (Scrip Code: 532019) and NSE (Symbol: LCCINFOTEC) under GSM stage 2. The shares were previously suspended but trading resumed from March 31, 2021. The company paid a SEBI penalty in November 2024 for regulatory violations.
Timeline
Key dates for the open offer process include publication of the detailed public statement on January 09, 2026, with the tendering period expected to commence on February 26, 2026, and close on March 11, 2026. The offer represents a significant corporate restructuring that will result in change of control and promoter reclassification.
Historical Stock Returns for LCC Infotech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.87% | +18.21% | +30.25% | -19.49% | -7.05% | +115.26% |
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