Indian Link Chain Manufacturers Ltd — Important, 01-01-1970: Company Update

Mr. Rajendra Kamalakant Chodankar has launched an open offer to acquire up to 793,000 equity shares, representing 26% of The Indian Link Chain Manufacturers Limited's (ILCML) emerging equity, at ₹71 per share, totaling ₹5.63 Cr. This offer follows the board's approval for a preferential allotment of shares and warrants. The acquirer will receive 1 million shares as part of a ₹18.11 Cr preferential equity issue and 4 million warrants from a separate ₹37.63 Cr warrant issue. Post-offer, Mr. Chodankar will hold 58.79% of ILCML, becoming a joint promoter and gaining control. ILCML operates in agri-food products, a shift from Mr. Chodankar's technology and optics background, which is a notable business factor. The acquirer, with a net worth of ₹20.35 Cr, has confirmed sufficient internal funds for the offer. Recent financials show ILCML's revenue at ₹0.29 Cr and profit after tax at ₹0.11 Cr for FY25.