Lykis Ltd — Important, 01-01-1970: Company Update

Parshav Vatika LLP, along with K8 Products LLP and Tidagela Ventures Private Limited, has announced an open offer for Lykis Limited. They propose to acquire up to 26% of Lykis's voting share capital at ₹34.50 per share, totaling ₹17.38 Crore. This open offer follows an agreement to purchase 67.17% of shares from the current promoter for ₹24.75 Crore, leading to a change in company control. Post-acquisition and offer, the Acquirers will become new promoters, holding 93.17% of Lykis. For the half-year, Lykis reported revenue of ₹107.59 Crore and profit after tax of ₹1.37 Crore. The Acquirers plan to expand Lykis's trading and distribution business and will address the requirement for minimum public shareholding.