Aspect Global Ventures Announces Open Offer for Shares of Iykot Hitech Toolroom Limited at ₹ 8.50 Per Share
Aspect Global Ventures Private Limited has announced a mandatory Open Offer for the public shareholders of Iykot Hitech Toolroom Limited, inviting them to acquire up to 26,98,298 fully paid-up equity shares in the company. The offer is priced at ₹ 8.50 per equity share, with a maximum aggregate consideration set at ₹ 2,29,35,533.The Open Offer period for Iykot Hitech Toolroom Limited was scheduled to commence on Wednesday, June 10, 2026, and close on Tuesday, June 23, 2026. The acquisition is being made by Aspect Global Ventures Private Limited (Acquirer) in light of its existing stake and management control over the company.
The Acquirer has previously acquired a significant block of shares from several sellers, including Anjanna Dugar, Likhitta Dugar, Padam Dugar, and Antariksh Dugar. Through this acquisition, Aspect Global Ventures Private Limited holds 35,89,080 equity shares, representing 34.58% of the company's voting share capital as acquired through a Share Purchase Agreement (SPA).
The Open Offer is made pursuant to the substantial acquisition of shares and voting rights. The total existing voting share capital of Iykot Hitech Toolroom Limited stands at 1,03,78,069 fully paid-up equity shares, providing the basis for calculating the Offer Size, which is set at 26%.
The pricing structure reflects a careful evaluation of market parameters. While the Acquirer acquired 35,89,080 shares from the sellers at a price of ₹ 8 per share under the SPA, the Open Offer sets the price higher. The ultimate offer price of ₹ 8.50 has been determined as the highest among all relevant valuation parameters considered for the acquisition.
Key details of the Open Offer and the Target Company's financial status are summarized below:
| Feature | Detail |
|---|---|
| Target Company | Iykot Hitech Toolroom Limited |
| Acquirer | Aspect Global Ventures Private Limited |
| Offer Price | ₹ 8.50 per equity share (cash) |
| Maximum Offer Size | Up to 26,98,298 shares (representing 26% of voting capital) |
| Aggregate Offer Consideration | ₹ 2,29,35,533/- |
| Offer Period | June 10, 2026, to June 23, 2026 |
| Existing Voting Share Capital | 1,03,78,069 fully paid-up equity shares |
The company's total issued equity share capital as reflected on the BSE was reported as 2,02,80,000 Equity Shares. This reflects that 99,01,931 partly paid-up equity shares had been forfeited by the Target Company following a board resolution passed on January 9, 2026, with corporate action for effecting this forfeiture currently in process.
The Acquirer confirmed that all offer proceeds will be managed through an escrow cash account opened with ICICI Bank Limited, ensuring compliance with related regulations. The Acquirer also reported adequate financial resources to meet its obligations under the Open Offer.
Stock Price Movement
As of 11:20, shares of Iykot Hitech Toolroom Ltd are steady at ₹19.16, holding firm as the market moves. The stock has been trading completely flat all morning, with its intraday high and low locked precisely at this level.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.
Last edited by a moderator: