Rajendra Chodankar Completes Open Offer for Indian Link Chain Manufacturers

Indian Link Chain Manufactures has undergone significant changes in ownership and management structure, as revealed in recent corporate filings. These developments mark a pivotal moment for the company.

Acquisition Details

Rajendra Kamalakant Chodankar, a promoter of Indian Link Chain Manufacturers Limited, has successfully completed an open offer to acquire up to 7,93,000 equity shares representing 26% of the company at Rs. 71 per share. Prior to this, the acquirer had entered into an agreement to acquire 10,00,000 equity shares representing 32.79% from promoter sellers. The offer period ran from October 23 to November 6, 2025.

The details of the acquisition are as follows:

Acquisition Component	Number of Securities	Percentage of Capital
Shares with voting rights	10,00,000	37.38%
Warrants/convertible securities	40,00,000	50.16%
Total Acquisition	50,00,000	62.70%

Post-acquisition, Chodankar's holdings represent 37.38% of the total voting capital and 62.70% of the diluted share capital. The company's equity share capital remains at 26,75,000 shares, while the total diluted share capital stands at 79,75,000 shares.

Board Restructuring

Following the change in ownership, the company has announced several changes to its board of directors:

New Appointments

Name	Position	Term
Anay Chodankar	Managing Director	5 years (6th Nov 2025 - 5th Nov 2030)
Rajendra Chodankar	Non-Executive Director	Effective 6th Nov 2025
Gajanan Godbole	Independent Director	5 years (6th Nov 2025 - 5th Nov 2030)
Riddhita Agrawal	Independent Director	5 years (6th Nov 2025 - 5th Nov 2030)

Resignations

The following directors have resigned, effective from the close of business hours on 7th November 2025:

Ashok Jain (Independent Director)
Jaynish Kothari (Independent Director)
Bhavika Thakkar (Non-Executive Director)

Key Management Profile

Anay Chodankar, the newly appointed Managing Director, brings a technical background and international experience to the role. He holds a Bachelor's degree in Mechanical Engineering from Brunel University, London, and has previously worked with Ayonix Japan on AI facial recognition software. His expertise in operational efficiency and innovation in the electronics industry is expected to contribute to the company's future strategies.

Rajendra Chodankar, appointed as a Non-Executive Director, has over four decades of experience in the technology consulting industry, specializing in electro-optics. His expertise spans medical devices, thermal imaging systems, and night vision devices.

These changes reflect a significant shift in the company's leadership and potentially its strategic direction. Shareholders and market observers will be watching how these new appointments and the change in ownership structure may impact the company's future performance and strategic initiatives.

As Indian Link Chain Manufacturers Limited navigates this transition, stakeholders will be looking for signs of how these changes might influence its market position and operational focus in the coming months.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.32%	-3.44%	-29.98%	+90.63%	+638.65%	+817.63%

Indian Link Chain Manufactures Limited (ILCML) has unveiled significant changes to its board of directors, signaling a new chapter in the company's leadership. The restructuring, announced on November 6, 2025, includes the appointment of a new Managing Director and several board members, alongside the resignation of three existing directors.

Key Appointments

The company has made the following key appointments, subject to shareholder approval:

Position	Appointee	Term
Managing Director	Anay Chodankar	5 years (Nov 6, 2025 - Nov 5, 2030)
Non-Executive Director	Rajendra Chodankar	Not specified
Independent Director	Gajanan Godbole	5 years (Nov 6, 2025 - Nov 5, 2030)
Independent Director	Riddhita Agrawal	5 years (Nov 6, 2025 - Nov 5, 2030)

New Leadership Profile

Anay Chodankar, the newly appointed Managing Director, brings experience from his role as Director at RRP Electronics Limited. With a background in Mechanical Engineering from Brunel University, London, and experience in AI facial recognition software in Japan, Chodankar is set to lead ILCML with a focus on innovation and operational efficiency.

Board Resignations

Concurrent with these appointments, the following directors have resigned, effective November 7, 2025:

Ashok Jain (Non-Executive Independent Director)
Jaynish Kothari (Non-Executive Independent Director)
Bhavika Thakkar (Non-Executive Director)

The resignations are attributed to a change in management and control pursuant to a takeover.

Family Ties and Governance

It's worth noting that Anay Chodankar is the son of newly appointed Non-Executive Director Rajendra Chodankar, who brings over four decades of experience in the technology consulting industry, specializing in electro-optics.

Compliance and Expertise

The company has confirmed that none of the new appointees are debarred from holding directorship positions by SEBI or any other authority. The independent directors, Gajanan Godbole and Riddhita Agrawal, have affirmed their independence as per the Companies Act, 2013 and SEBI regulations.

Conclusion

This board restructuring marks a significant shift in ILCML's leadership, potentially setting the stage for new strategic directions and operational approaches. Shareholders and market observers will likely be watching closely to see how these changes impact the company's future performance and governance.