Hikal Limited — Important, 17-01-2025: Updates

Kalyani Investment Company Ltd and BF Investment Ltd have raised concerns regarding disclosures made by Hikal Ltd about alleged family arrangements involving the transfer of shares. They claim that Hikal's communications are misleading and inaccurately imply a family agreement that doesn't exist, specifically referencing a letter from the late Mr. N. Vaghul, which contradicts Hikal's position. The letter from Mr. Vaghul clarifies that any discussions about share transfers were unrelated to any formal arrangement and suggests that the disclosure is intended to manipulate market perception. Kalyani Investment has demanded that Hikal correct these disclosures or face potential legal action. Investors should monitor the situation closely as the outcome could significantly impact share values.