LCC Infotech Faces Open Offer: Kunjit Patel Seeks 26% Stake at ₹4.55

LCC Infotech is set for a change in control as Kunjit Maheshbhai Patel makes a formal open offer. He aims to acquire 43.8 million equity shares, representing a 26% stake in the IT training firm, at ₹4.55 per share.

Open Offer Details

Kunjit Maheshbhai Patel has formally announced an open offer to acquire up to 43.8 million equity shares of LCC Infotech Limited, which is 26.00% of the company's total voting share capital.

The offer price is set at ₹4.55 per equity share, with a face value of ₹2. The Independent Directors Committee (IDC) published its recommendations regarding this open offer on March 30, 2026.

This move is in line with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Why This Matters

This open offer signals a potential change in control for LCC Infotech. For existing public shareholders, it offers a chance to sell their shares at the ₹4.55 price.

Investors will be watching the strategic reasoning behind the offer and the IDC's recommendations to understand its potential success and impact on LCC Infotech's future.

Background to the Offer

Mr. Patel's open offer follows his acquisition of a 34.43% stake in LCC Infotech from promoters Shreeram Bagla and Rachna Suman Shaw via a share purchase agreement on January 3, 2026.

Adding to recent developments, LCC Infotech recently approved a preferential allotment of 4.2 crore equity shares at ₹4.55 each, raising about ₹191.1 million. This move may have diluted existing holdings while boosting the company's capital.

LCC Infotech, founded in 1985 and based in Kolkata, operates in IT education and training. Despite its long history, the company has faced financial challenges, reporting negative net income and EBITDA.

What Could Change

If the open offer is fully taken up, Kunjit Patel could gain effective control of LCC Infotech.

Existing promoters might be reclassified as public shareholders once Mr. Patel consolidates his stake.

Public shareholders have a period to sell their shares at the offer price, providing an exit route.

Key Risks

A key risk involves a reported discrepancy in the open offer price. While official filings state ₹4.55 per share, some reports suggest the price might be ₹3.55, which could confuse shareholders.

The offer price of ₹4.55 is higher than Patel's initial purchase price of ₹3.55 but lower than recent market trading prices. This difference could discourage some shareholders from participating.

LCC Infotech's history of losses and negative EBITDA remains a concern for the company's long-term outlook.

Peer Group

LCC Infotech operates in the IT education and training sector. Similar companies include Compucom Software and Usha Martin Education. Today's news, however, focuses on a change in control via an open offer, a specific event not typically part of routine peer financial comparisons.

Financial Snapshot

• LCC Infotech reported revenue of ₹52.3 Lakhs for the year ending March 31, 2025.
• Its EBITDA for the trailing twelve months (TTM) was ₹-2.39 Million.
• For the last reported quarter, net income was ₹-35,000.
• The Price-to-Earnings (PE) ratio on a TTM basis stands at -50.00.

What to Watch Next

Investors will closely monitor how many shares are tendered in the open offer.

Look for further clarifications on the offer price, especially given the reported discrepancies.

Track the Independent Directors Committee's final advice to shareholders.

Watch for any changes in LCC Infotech's management and strategic direction after the offer.

Evaluate the company's financial performance in upcoming quarters under potential new ownership.