LCC Infotech Board Approves Share Capital Increase, Acquisition, and Preferential Issues
LCC Infotech's Board approved a ₹30 crore increase in authorized share capital to ₹80 crore. A Share Purchase Agreement was signed for acquiring 45.85% stake at ₹3.55/share, triggering an open offer. The company will also raise ₹14.91 crore via equity shares and ₹80.09 crore via convertible warrants on a preferential basis. An EGM is scheduled for Feb 2, 2026.
The acquisition of a significant stake (45.85%) by a new acquirer, coupled with substantial equity and warrant issuances, will lead to a change in control and significant capital infusion, thus having a high impact on the company's future.
The company is undertaking multiple significant corporate actions including a substantial acquisition, increase in authorized capital, and preferential issues, which are generally viewed positively as they aim to fuel growth and restructuring.
LCC Infotech Limited's Board of Directors, in a meeting held on January 3, 2026, approved a significant increase in the company's authorized share capital from ₹50 crore to ₹80 crore. This move is subject to shareholder approval and includes an alteration to the Memorandum of Association.
The Board also approved the execution of a Share Purchase Agreement (SPA) dated January 3, 2026, where Mr. Kunjit Maheshbhai Patel will acquire up to 5,80,42,357 equity shares, representing 45.85% of the company's paid-up equity share capital, from the existing promoters at a consideration of up to ₹3.55 per share. This transaction will trigger an open offer to public shareholders as per SEBI regulations.
Further, the company plans to issue up to 4,20,00,000 equity shares on a preferential basis at ₹3.55 per share, aggregating to ₹14.91 crore. Additionally, up to 22,56,05,633 convertible warrants will be issued on a preferential basis at ₹3.55 per warrant, with a total value of ₹80,08,99,997.15. Each warrant is convertible into one equity share within 18 months.
The Board also approved the substitution of a clause in the Memorandum of Association and recommended it for shareholder approval. They also decided to propose the shifting of the Registered Office from West Bengal to Gujarat.
In terms of human resources, Mr. Akhilkumar Dilipbhai Kotak was appointed as an Additional Executive Director, effective January 3, 2026. The company also scheduled its Extra-Ordinary General Meeting (EGM) for Monday, February 2, 2026, at 11:30 AM via video conferencing to discuss these proposals.
The remote e-voting period for the EGM will commence on Friday, January 30, 2025, at 9:00 AM and conclude on Sunday, February 1, 2025, at 5:00 PM. The cut-off date for e-voting eligibility is Monday, January 26, 2026.
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LCC Infotech Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by LCC Infotech Limited. Read the original for the full detail.