Business News | Rikhav Securities Announces Promoter Group Open Offer for Up to 26% Stake
Get latest articles and stories on Business at LatestLY. Mumbai (Maharashtra) [India], April 24: Rikhav Securities Limited (BSE - RIKHAV | 544340), one of the leading diversified stock market services providers, has notified of an open offer by its promoter group comprising Mr. Hitesh Lakhani, Mr. Deep Lakhani, Mrs. Vaishali Shah, and Mrs. Bharti Lakhani, along with persons acting in concert, in accordance with SEBI guidelines.
PNN
Mumbai (Maharashtra) [India], April 24: Rikhav Securities Limited (BSE - RIKHAV | 544340), one of the leading diversified stock market services providers, has notified of an open offer by its promoter group comprising Mr. Hitesh Lakhani, Mr. Deep Lakhani, Mrs. Vaishali Shah, and Mrs. Bharti Lakhani, along with persons acting in concert, in accordance with SEBI guidelines.
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Offer Details
* Open offer for acquisition of up to 99,55,920 equity shares, representing 26% of the voting share capital
* Offer price of ₹47.75 per equity share
* Total consideration of up to ₹47.54 Cr, assuming full acceptance
* Offer to be executed through cash consideration
The promoter group had recently acquired approximately 32.51 lakh equity shares, representing 8.48% of the voting share capital of the Company, through market purchases.
In line with SEBI regulations, these acquisitions have led to the announcement of an open offer and reflect the promoters' continued confidence in the Company's business fundamentals and long-term growth prospects.
The promoter group continues to remain in control of the Company, and the transaction does not result in any change in management or control. The open offer provides an opportunity for public shareholders to tender their shares at the stated price in accordance with SEBI guidelines.
About Rikhav Securities Limited
Rikhav Securities Limited is a diversified stock market services provider, incorporated in 1995 and formally launched in 2005, that has built a reputation for combining personalized service with competitive pricing. Today, it serves a broad spectrum of clients from High-Net-Worth investors to high-volume traders across major Indian exchanges.
At its core, Rikhav's broking arm offers equity and derivatives trading with a "tailor-made" approach. Traders benefit from Brokerage rates that can undercut larger discount brokers, while all clients receive dedicated relationship support and personalized services on demand. Remarkably, over 99% of active clients remain on the platform once they join, reflecting the firm's emphasis on loyalty and satisfaction.
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