Aspect Global Ventures Announces Open Offer for Iykot Hitech Toolroom Limited at ₹8.50 per Share

Iykot Hitech Toolroom Limited has become the subject of an open offer announcement by Aspect Global Ventures Private Limited. The acquirer has proposed to purchase up to 26,98,298 equity shares at ₹8.50 per share, representing a significant corporate development in the toolroom manufacturing sector. Open Offer Structure and Financial Details The open offer encompasses substantial financial commitments and regulatory compliance requirements. Aspect Global Ventures has structured the acquisition to meet SEBI (SAST) Regulations, 2011 standards. Parameter Details Offer Size 26,98,298 equity shares Offer Price ₹8.50 per share Total Consideration ₹2,29,35,533 Voting Share Capital Percentage 26% Face Value per Share ₹5.00 Payment Mode Cash Underlying Transaction Details The open offer stems from a Share Purchase Agreement executed on February 24, 2026. This agreement involves the acquisition of shares from four selling shareholders who are currently part of the promoter group. Seller Name Pre-Transaction Shares Voting Capital Percentage Annjana Dugar 19,36,122 18.66% Padam Dugar 8,05,100 7.76% Likhitta Dugar 5,40,758 5.21% Antariksh Dugar 3,07,100 2.96% Total 35,89,080 34.58% The underlying transaction involves Aspect Global Ventures acquiring these 35,89,080 equity shares at ₹8.00 per share, totaling ₹2,87,12,640 in consideration. Share Capital Restructuring The target company has undergone significant share capital restructuring that affects the open offer calculations. The Board of Directors approved the forfeiture of 99,01,931 partly paid-up equity shares on January 9, 2026, where call money remained unpaid by shareholders. Share Capital Component Number of Shares Total Issued Equity Capital 2,02,80,000 Forfeited Partly Paid Shares 99,01,931 Existing Voting Share Capital 1,03,78,069 Acquirer Profile and Control Structure Aspect Global Ventures Private Limited operates from Mumbai with its registered office at Mansionz One, Linking Road, Bandra West. The company belongs to the Aspect Global group and has multiple promoter entities. The promoter structure includes: Harmony Trust (Trustee - Sukumar Anand Shetty) Dream Trust (Trustee - Aksha Mohit Kamboj) Mahadev Private Trust (Trustee - Vaishali Lad) Sukumar Anand Shetty Regulatory Compliance and Timeline Saffron Capital Advisors Private Limited serves as the Manager to the Open Offer, ensuring compliance with SEBI (SAST) Regulations, 2011. The Detailed Public Statement will be published within 5 working days of the public announcement, by March 04, 2026. Key regulatory aspects include: The offer is not conditional upon minimum acceptance levels No delisting intention has been declared The tendering period will span 10 working days All payments will be made in cash as per Regulation 9(1)(a) Upon completion, the selling shareholders will relinquish control and be declassified from the promoter group, while Aspect Global Ventures will assume joint control alongside existing non-traceable promoters. Iykot hitech toolroom Limited has received relief from BSE Limited regarding SOP (Straight Through Processing) fines that were levied for alleged regulatory non-compliance. The company announced on January 29, 2026, that BSE has acceded to its waiver request and withdrawn the imposed penalties. Fine Waiver Details The waiver pertains to SOP fines that were levied pursuant to SEBI's Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The fines were imposed for alleged non-compliance with certain regulations under Regulation 31A(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Parameter: Details Fine Amount Waived: ₹1,77,500 (plus GST) BSE Communication Date: January 13, 2026 Regulation Reference: 31A(3) of SEBI LODR 2015 Master Circular Date: November 11, 2024 Company Representations and BSE Decision The company had made several correspondences and representations to BSE Limited challenging the imposed fines. After due consideration of the facts and submissions presented by IYKOT HITECH TOOLROOM, BSE Limited concurred with the company's position and decided to withdraw the SOP fines. The waiver was formally communicated to the company through BSE's mail dated January 13, 2026. In its disclosure, the company expressed gratitude to the stock exchange for conceding to the waiver request. Regulatory Compliance This disclosure has been made by the company pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to inform stock exchanges about material events and developments. The announcement was signed by Likhitta Dugar, Whole Time Director of the company, with DIN: 09768742. The successful waiver of these regulatory fines removes a financial burden from the company and demonstrates the effectiveness of proper representation in regulatory matters. IYKOT HITECH TOOLROOM operates from its registered office in Chennai and is engaged in toolroom and precision engineering activities. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. 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