LCC Infotech: Patel Raises Stake to 38.64% in 2026

Key disclosure: off-market stake purchase

LCC Infotech Limited reported that Kunjit Maheshbhai Patel acquired 23,126,760 equity shares on August 27, 2026. The company said the transaction was executed through an off-market share purchase agreement. Following the acquisition, Mr Patel’s stake rose to 38.64%.

The disclosure also stated that Mr Patel’s total holding now stands at 65,138,052 shares, carrying voting rights. The update was positioned as a substantial acquisition disclosure and was made through stock exchange filings.

Where the filing was made and the regulation cited

According to the disclosure, the deal was reported under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted to both the BSE and the NSE.

This matters for market participants because such disclosures provide visibility into material changes in ownership and voting rights. In this case, the filing directly quantified the number of shares bought, the date of acquisition, and the resulting stake percentage.

What the 13.72% stake reference indicates

The update is framed as an acquisition of a 13.72% stake via an off-market deal. Alongside the reported 23,126,760 shares added on August 27, 2026, the company’s disclosure set out the post-transaction holding and the revised stake of 38.64%.

The filing, as described, focuses on the mechanics of acquisition (off-market agreement) and the resulting voting position rather than trading activity on the exchange.

Open offer advertisement: offer size, price, and outcome

Grow House Wealth Management Private Limited, acting as Manager to the Offer, issued a post-offer advertisement for an open offer by Mr Patel. The open offer proposed to acquire 4,38,34,271 equity shares (26.00%) of LCC Infotech Limited at an offer price of ₹4.55 per share.

Against the proposed offer, only 11,292 shares were reported as tendered and accepted. The advertisement stated that the actual consideration paid was ₹0.0005 crore (₹51,378.60). The payment date in the text is stated as April 24, 2024, while other parts of the provided information also describe the offer settlement as occurring on April 24, 2026.

Preferential allotment: 4.20 crore shares and proceeds

Separately, LCC Infotech disclosed a preferential allotment in which Mr Patel acquired 4,20,00,000 shares (24.91%). The acquisition date cited is March 6, 2026, with the disclosure filed on March 9, 2026.

The preferential allotment issue price is stated as ₹4.55 per share, and the company’s proceeds are reported as ₹19.11 crore. The capital structure change described in the disclosures shows total equity shares moving from 12,65,93,350 to 16,85,93,350 following the allotment.

Change in control structure: SPA plus preferential issue

The broader change-in-control transaction is described as a two-part structure formalised on January 3, 2026. First, a Share Purchase Agreement (SPA) with existing promoters Shreeram Bagla and Rachna Suman Shaw covered 5,80,42,357 shares (34.43%).

Second, a preferential allotment added 4,20,00,000 shares (24.91%). In a summary table provided, the consideration is shown as ₹20.61 crore for the SPA and ₹14.91 crore for the preferential allotment, with a combined total of 10,00,42,357 shares (59.34%) and total consideration of ₹35.52 crore. Elsewhere in the same set of information, the preferential allotment proceeds are stated as ₹19.11 crore, reflecting a discrepancy across the provided figures.

Mandatory open offer: initial price and later revision

The transaction triggered a mandatory open offer under SEBI regulations, with one section listing open offer parameters including an offer price of ₹3.55 per share, an offer size of up to 4,38,34,271 equity shares, and a maximum consideration of ₹15.56 crore.

Another update states that the open offer price was revised to ₹4.55 per share (up from ₹3.55) for acquisition of 4,38,34,271 shares representing 26%. The Independent Directors Committee (IDC) is stated to have published its recommendations on March 30, 2026.

Market impact: what investors can verify from filings

The most concrete market-relevant information in the disclosures is the sharp change in ownership levels and the path taken to build the stake. The August 27, 2026 off-market purchase increased Mr Patel’s stake to 38.64%, while earlier disclosures covered a preferential allotment of 4.20 crore shares and a change in capital structure.

The open offer outcome also stands out due to the low acceptance reported: 11,292 shares tendered against a proposed 4,38,34,271 shares. Together, these details help investors verify what portion of control was achieved through negotiated transactions, preferential allotment, and public tendering.

Summary table of key disclosed facts

Timeline highlights across disclosures

Conclusion

LCC Infotech’s disclosures show Kunjit Maheshbhai Patel continuing to build his holding through an off-market purchase, taking his stake to 38.64% and total shares held to 65,138,052. Earlier filings and advertisements also detail a preferential allotment, a promoter stake purchase agreement, and the open offer process, including the number of shares tendered and accepted. Further updates, if any, would typically be reflected through subsequent exchange disclosures filed under applicable SEBI regulations.