Lykis Limited Open Offer Announced at ₹34.50 per Share Following Promoter Stake Acquisition

Lykis Limited faces a mandatory open offer following a significant promoter stake acquisition. Parshav Vatika LLP, along with persons acting in concert (PACs) K8 Products LLP and Tidagela Ventures Private Limited, has announced an open offer to acquire up to 50,37,541 equity shares representing 26% of the company's total voting share capital.

Open Offer Details

The open offer has been structured with specific terms for public shareholders:

Parameter	Details
Offer Price	₹34.50 per equity share
Total Shares Offered	50,37,541 equity shares
Percentage of Voting Capital	26%
Total Consideration	₹17,37,95,164.50
Face Value	₹10.00 per share
Mode of Payment	Cash

The offer price of ₹34.50 per share has been determined in accordance with Regulation 8(2) of the SEBI SAST Regulations. The open offer is mandatory and not conditional upon any minimum level of acceptance.

Underlying Transaction Details

The open offer obligation was triggered by the acquisition of a controlling stake from the existing promoter:

Transaction Details	Specifications
Shares Acquired	1,30,14,966 equity shares
Percentage Acquired	67.17% of total voting capital
Acquisition Price	₹19.01 per share
Total Consideration	₹24,75,00,000.00
Seller	Nadir Umedali Dhrolia (Promoter)
Agreement Date	December 18, 2025

The transaction was executed through a Share Purchase Agreement between the acquirer, PACs, and the selling promoter. Upon completion of the underlying transaction, the sellers will not hold any equity shares in the target company and will relinquish control and management in favor of the acquirer and PACs.

Acquirer and PACs Information

The acquiring entities are structured as follows:

Parshav Vatika LLP (Acquirer):

Address: B-25, Floor-2, Mezz, Amrut Diamond House, Tata Road No.1, Roxy Cinema, Opera House, Girgaon, Mumbai City, Maharashtra, 400004
Key Persons: Jitendrakumar Ranka, Manjulata Jitendrakumar Ranka, Manan Jitendra Kumar Ranka, Maulik Jitendra Kumar Ranka

K8 Products LLP and Tidagela Ventures Private Limited (PACs):

Both entities are located at 1205 C Wing Levels, Rani Sati Marg, Kathiyawadi Chowk, Malad East, Mumbai, Maharashtra, 400097
Controlled by Nishant N Bajaj and Prashant Bajaj

Post-acquisition, each entity will hold 43,38,322 equity shares, representing 22.39% of the total share capital and voting capital.

Target Company Profile

Lykis Limited operates with the following corporate details:

Company Information	Details
CIN	L74999MH1984PLC413247
ISIN	INE624M01014
Registered Office	4th Floor, Grandeur Building, Veera Desai Road, Opp. Gundecha Symphony, Andheri-West, Mumbai, Maharashtra, 400053
Stock Exchange	BSE Limited (Security Code: 530689)
Total Equity Shares	1,93,75,155 shares of ₹10.00 face value each

The company's equity shares are infrequently traded on BSE Limited as per SEBI SAST Regulations classification.

Regulatory Compliance and Timeline

Srujan Alpha Capital Advisors LLP has been appointed as the Manager to the Open Offer in accordance with Regulation 12(1) and 14(1) of the SEBI SAST Regulations. The detailed public statement will be published in newspapers within five working days of the public announcement, on or before December 26, 2025.

The acquirer and PACs have confirmed adequate financial resources to meet obligations related to the open offer and have made firm financial arrangements for acquisition of the offer shares. The transaction is subject to receipt of required statutory approvals and other terms and conditions as will be detailed in the detailed public statement and letter of offer.

The acquirer and PACs have stated no intention to delist the equity shares of the target company pursuant to this open offer. The tendering period will be 10 working days during which public shareholders may tender their equity shares in acceptance of the offer.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+19.98%	+23.13%	+35.42%	+34.66%	+0.89%	+49.29%

Lykis Limited , a diversified company, has announced its unaudited financial results for the quarter and half year ended September 30, 2025, along with significant corporate actions. The company has completed the disposal of its investments in several associate companies, marking a strategic shift in its portfolio.

Financial Highlights

Lykis Limited reported a standalone net loss of Rs. 0.46 lakhs.
The consolidated results showed a net profit of Rs. 0.59 lakhs.
The company generated a net profit of Rs. 0.38 lakhs from the disposal of its investment in Lykis Herbals Private Limited.

Corporate Actions

Divestment of Associate Companies

Lykis Limited has completed the disposal of its entire investments in two associate companies:
- Lykis Biscuits Private Limited
- Lykis Packaging Private Limited
The company also divested its stake in Lykis Herbals Private Limited.

Trademark Sale Approval

The Board of Directors has approved the sale of all company trademarks.
These trademarks have been classified as assets held for sale.

Consolidated Results

The consolidated financial results include the performance of subsidiaries:
- Lykis Export LLC UAE
- Goldspan Exports Private Limited

Board Meeting Details

Date	Time	Key Actions
November 8, 2025	4:00 PM to 5:30 PM	- Approval of Standalone and Consolidated Un-Audited Financial Results for Q2 and H1 FY2026 - Review and approval of Limited Review Report on the Un-Audited Financial Results

The financial results and corporate actions indicate that Lykis Limited is undergoing significant changes in its business structure. The divestment of associate companies and the decision to sell company trademarks suggest a potential restructuring or refocusing of the company's core business activities.

As per regulatory requirements, the company has submitted its unaudited financial results and limited review report to the BSE Limited, ensuring transparency and compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.