Company Update

Niks Technology Ltd has announced a preferential issue of 65,73,600 equity shares and 18,37,800 convertible warrants along with a share purchase agreement, triggering an open offer from the acquirers to purchase up to 23,16,964 fully paid-up equity shares, representing 26.00% of the expanded equity share capital.

The offer price is set at Rs. 136 per share, with a total consideration of Rs. 31.51 Cr assuming full acceptance, payable entirely in cash.

This transaction will result in a change in control and the reclassification of the acquirers as the new promoters of the company.