Rikhav Securities Announces Open Offer to Public Shareholders
A consortium of acquirers, including B D Lakhani, B N Lakhani, H D Lakhani, and N D Lakhani, has initiated an Open Offer for the acquisition of equity shares of Rikhav Securities Limited (RSL). The offer is directed towards all public shareholders of the company.The Open Offer proposes to acquire up to 99,55,920 equity shares of RSL, representing 26% of the company's voting share capital. The consolidated offer price set for these shares is Rs. 47.75 per equity share. This price is payable in cash.
The acquiring group is comprised of the four named Acquirers, along with four Persons Acting in Concert (PACs): Hitesh Himmatlal Lakhani, Deep Hitesi Lakhani, Vaishali Rajendra Shah, and Bharti Hitesh Lakhani.
Financial Standing of the Acquirers
The key financial details of the four Acquirers as of March 31, 2026, demonstrate their current net worth and financial status:| Acquirer Name | Net Worth (as of March 31, 2026) |
|---|---|
| B D Lakhani | Rs. 7,07,35,664 |
| B N Lakhani | Rs. 6,64,12,680 |
| H D Lakhani | Rs. 4,31,93,854 |
| N D Lakhani | Rs. 7,25,41,546 |
The financial performance of the Acquirers for the last three financial years is detailed below:
| Particulars | B D Lakhani | B N Lakhani | H D Lakhani | N D Lakhani |
|---|---|---|---|---|
| Net Worth (2026) | 7,07,36,164 | 6,45,11,985 | 4,02,89,201 | 7,25,53,608 |
| Net Worth (2025) | 4,76,15,630.84 | 13,26,998.15 | 14,24,906.04 | 2,90,92,986.99 |
| Net Worth (2024) | 1,09,05,234.48 | NA | NA | 21,08,948.64 |
Target Company Overview
Rikhav Securities Limited (RSL) is a company engaged in the business of equity broking, investing, and trading activities. The company's equity shares are listed only on the SME Platform of BSE Limited.The issued, subscribed, and paid-up equity share capital of RSL stands at 3,82,92,000 Equity Shares, each having a face value of Rs 5/-.
The key financial data for RSL, presented in millions, shows:
| Particulars | Limited Review (Sept 30, 2025) | Audited (March 31, 2025) | Audited (March 31, 2024) | Audited (March 31, 2023) |
|---|---|---|---|---|
| Total Revenue | 38,666.96 | 32,776.6 | 11,060 | 5,448.52 |
| Net Earnings or Profit/(Loss) | 1,775.85 | 2,366.97 | 4,220.89 | 2,042.88 |
| Net Worth | 24,426.97 | 22,651.1 | 13,854.5 | 9,586.7 |
Timeline of the Open Offer
The tentative schedule of activity for the Open Offer provides the following key dates:| Activity | Date |
|---|---|
| Public Announcement | Monday, April 21, 2026 |
| Publication of Detailed Public Statement | Tuesday, April 28, 2026 |
| Identified Date | Monday, June 01, 2026 |
| Date of commencement of Tendering Period | Monday, June 15, 2026 |
| Date of closing of Tendering Period | Monday, June 29, 2026 |
| Last date for payment of consideration/refund | Monday, July 13, 2026 |
Stock Price Movement
Rikhav Securities Ltd shares settled at ₹50.40 on Tuesday, slipping 1.72% for the day. Throughout the trading session, the stock fluctuated within a tight range, dipping between ₹49.55 and reaching a high of ₹50.40.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.
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