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Lippi Systems Ltd. M&A Activity 2026
64047_rns_2026-05-25_13254d8a-688c-4df0-8e2c-35ec3a4d981a.pdf
M&A Activity
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LIPPI SYSTEMS LIMITED
Translating Vision into Reality
May 25, 2026
To,
BSE Limited,
25th Floor,
PJ Towers, Dalal Street, Fort,
Mumbai - 400 001
Scrip Code: 526604
Dear Sir/Madam,
Subject: Intimation under Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and subsequent amendments thereto.
The Company is in receipt of a copy of a Detailed Public Statement dated May 25, 2026 ("Detailed Public Statement") issued by Vivro Financial Services Private Limited (Merchant Banker) in respect of an open offer made by Lippi Systems Limited to the public shareholders of the Company, pursuant to Regulations 13(4) and 14(3) of under Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto. A copy of the Detailed Public Statement is enclosed for your reference and records.
This is for your information and record.
Thanking You,
For Lippi Systems Limited
NANDLAL JAIGOPAL AGRAWAL
Digitally signed by NANDLAL JAIGOPAL AGRAWAL
Date: 2026.05.25 16:53:40
+05'30'
Nandlal Jaigopal Agrawal
Managing Director
DIN: 00336556
Regd. Office: 601 & 602, 6th Floor, Shaligram Corporate, Nr. Dishman House, Iscon – Ambli Road, Ahmedabad – 380058.
Telephone : 079-35219264, Email : [email protected], Website : www.lippisystems.com
CIN: L22100GJ1993PLC020382
VIVRO
Vivro Financial Services Private Limited
Regd. Office :
Vivro House, 11, Shashi Colony, Opp. Suvidha Shopping Center,
Paldi, Ahmedabad, Gujarat, India - 380 007
Tel.: +91 (79) 4040 4242
www.vivro.net
Date: May 25, 2026
To,
The Board of Directors,
Lippi Systems Limited
601 & 602, 6th Floor,
Shaligram Corporates, Nr. Dishman House,
Iscon-Ambli Road,
Ahmedabad- 380058, Gujarat
Sub: Detailed Public Statement for the proposed Open Offer for acquisition of Equity Shares from the Public Shareholders of Lippi Systems Limited (“Target Company”) by Vinesh Shivji Dholu (“Acquirer 1”), Jagdish Shivji Dholu (“Acquirer 2”), Shivji Karamshi Dholu (“Acquirer 3”), Jagruti Vinesh Dholu (“Acquirer 4”), Parul Jagdish Dholu (“Acquirer 5”) pursuant to and in compliance with the requirements of the SEBI (SAST) Regulations (the “Open Offer” or “Offer”).
Dear Sir / Madam,
With reference to the captioned subject, enclosed herewith is the Detailed Public Statement (‘DPS’), published in compliance with Regulation 13(4) and 14(3) of the SEBI SAST Regulations today i.e. Monday, May 25, 2026, in the following newspaper:
| Newspaper | Language | Edition |
|---|---|---|
| Financial Express | English | All |
| Jansatta | Hindi | All |
| Navshakti | Marathi | Mumbai |
| Financial Express | Gujarati (Regional) | Ahmedabad |
We have hereby attached e-clippings of the newspaper for your perusal. We request you to disseminate the said information on your website
Capitalised terms used in this letter unless defined herein shall have the same meanings as ascribed to them in the enclosed DPS.
Yours Faithfully,
For, Vivro Financial Services Private Limited
Jayesh Vithlani
Sr. Vice President Capital Markets
Encl.: Detailed Public Statement.
CIN - U67120GJ1996PTC029182, Merchant Banker Sebi. Reg. No. INM000010122, AIBI Reg. No. AIBI/086
LIPPI SYSTEMS LIMITED
Registered Office: LEY & SOL, 9th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th
Registered Office: LEY & SOL, 9th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor, 10th Floor, 10th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor, 10th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor, 10th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor
Registered Office: LEY & SOL, 9th Floor, 10th Floor
| Sc No. | Particulars | Price (in € per Equity Share) |
|---|---|---|
| A | Highest negotiated price under the GPA & SGA. | 56.84 |
| B | The volume-weighted average price paid or payable for acquisitions by the Acquirers / PAC, during 12 weeks immediately preceding the date of the PA. | N.A. |
| C | Highest price paid or payable for any acquisition by the Acquirers / PAC, during 18 weeks immediately preceding the date of the PA. | N.A. |
| D | The volume-weighted average market price of shares for a period of 60 trading days immediately preceding the date of PA as traded on the stock exchange where the maximum volume of trading in the shares of the Target Company are recorded during such period. | 48.64 |
| E | The price determined being into account valuation parameters. | N.A. |
| F | the per share value computed under sub-regulation (5), if applicable | Not Applicable1) |
Note 1. Not Applicable since the acquisition is not an indirect acquisition.
The fair value of Equity Shares of the Target Company is $166.84/-$ (Purpose Fifty Six and Paisa Eighty Four Only) as certified by CA Cliving Naval training (CAI Membership No. 151024, Partner of S.K. Patin & Co. (PAN: 112947W)) who certify the leasing UDIN 2013/1033442/AM/2017 dated May 18, 2020, having its office at 401-404, Vraj Valencia, Behind Mahestra Show Room for Sola Overbridge, S. G. Highway, Sola, Ahmedabad-380066, Gujarat, Email ID: [email protected]
In view of the parameters considered and presented in the aforesaid table, the minimum offer price per Equity Share under Regulation 8(2) of the SEBI (SAST) Regulations is the highest of item numbers A to F above i.e., € 90.84 per Equity Share. Accordingly, the Offer Price of € 90.84/- (Purpose Fifty Six and Paisa Eighty Four Only) is justified in terms of the SEBI (SAST) Regulations.
Since the date of the PA and as on the date of the GPA, there have been no corporate actions in the Target Company warranting adjustment of relevant price parameters under Regulation A(4) of the SEBI (SAST) Regulations. The Offer Price may be adjusted in the event of any corporate action like bonus, rights issues, stock split, consolidation, etc. where the record date for effecting such corporate actions falls prior to 2 Working Days before the commencement of the Tendering Period of the Offer, in accordance with Regulation A(4) of the SEBI (SAST) Regulations.
In the event of further acquisition of Equity Shares of the Target Company by the Acquirers during the Offer Period, whether by subscription or purchase, at a price higher than the Offer Price, then the Offer Price will be revised by the Acquirer. The value for more than the highest price paid for such acquisition in terms of Regulation A(4) of the SEBI (SAST) Regulations. However, Acquirers shall not acquire any Equity Shares of the Target Company after the third Working Days prior to the commencement of the Tendering Period and until the expiry of the Tendering Period.
If the Acquirers acquire Equity Shares of the Target Company during the period of twenty-six weeks after the Tendering Period at a price higher than the Offer Price, then the Acquirers shall pay for difference between the highest acquisition price and the Offer Price. In all Public Shareholders whose Equity Shares have been accepted in the Offer within 60 (only) days from the date of such acquisition. However, no such difference shall be paid in the event that such acquisition is made under another open offer under the SEBI (SAST) Regulations, or pursuant to SEBI Debating Regulations, or open market purchases made in the ordinary course on the Stock Exchange, not being negotiated acquisition of Equity Shares of the Target Company in any form.
-
The Acquirers are permitted to revise the Offer Price upward at any time up to 1 (one) Working Day prior to the commencement of the Tendering Period of the Offer in accordance with Regulation 16(4) of the SEBI (SAST) Regulations. In the event of such upward revision in the Offer Price, the Acquirers shall make further deposits into the Escrow Account, make a public announcement in the same newspapers where the original OPS has been published and simultaneously inform SEBI, BSE and Target Company at its registered office of such revision.
-
As no date, there is no revision in Offer Price or Offer Size. In case of any revision in the Offer Price or Offer Size, the Acquirers shall comply with Regulation 16 of SEBI (SAST) Regulations and all other applicable provisions of SEBI (SAST) Regulations which are required to be fulfilled for the said revision in the Offer Price or Offer Size.
1. FINANCIAL ARRANGEMENTS:
The total fixed requirement for implementation of the Open Offer (assuming full acceptance) i.e. for the acquisition of up to 33.82.231 (Thirty Three Lakh Eighty Two Thousand Two Hundred Thirty-One) Equity Shares from all the Public Shareholders of the Target Company at an Offer Price of € 90.84/- (Purpose Fifty Six and Paisa Eighty Four Only) per Equity Share is of € 15.22.46.010.04/- (Purpose Nineteen Crore Twenty Two Lakh Forty Six Thousand Two and Paisa Four Only) ("Maximum Consideration").
In accordance with Regulation 17 of SEBI (SAST) Regulations, the Acquirers and Manager to the Offer have entered into an escrow agreement with HDFC Bank Limited ("Eazme Agent") on May 18, 2020 ("Eazme Agreement") and have opened an escrow account under the name and style of Vinech Shoe Chicks ("Eazme ACC ("Eazme Account") with the Escrow Agent. In accordance with the requirements of Regulation 17 of the SEBI (SAST) Regulations, the Acquirers have deposited in cash, through banking channels, an aggregate of 4,81.00.000/- (Purpose Four Crore Eighty One Lakh Only) ("Eazme Amount") in the Escrow Account which is more than 25% of the total consideration payable in the Offer, assuming full acceptance. In terms of the Escrow Agreement, the Manager to the Offer has been authorized by the Acquirers to operate the Escrow Account in accordance with the SEBI (SAST) Regulations. The deposit of the Escrow Amount has been confirmed by the Escrow Agent by way of a confirmation letter dated May 22, 2020.
The Acquirers have authorized the Manager to the Offer to operate the Escrow Account and realize the value of the Escrow Amount in terms of the SEBI (SAST) Regulations.
The Acquirers have confirmed that they have adequate financial resources to meet the obligations under the Open Offer and have made firm financial arrangements for fulfilling the payment obligations under this Open Offer in terms of Regulation 25(1) of the SEBI (SAST) Regulations and the Acquirers are able to implement this Open Offer.
After considering the aforementioned, CA Cliving Naval training (CAI Membership No. 151024, Partner of S.K. Patin & Co., PAN: 112947W) who certificate bearing UDIN 2013/1024242/AM/2013 dated May 21, 2020, having office at 401-404, Vraj Valencia, Behind Mahestra Show Room for Sola Overbridge, S. G. Highway, Sola, Ahmedabad-380066, Gujarat, Email ID: [email protected] have certified that the Acquirer has not made firm financial arrangements to make any financial obligations under the Open Offer.
Based on the above and in the light of the escrow arrangements, the Manager to the Offer is satisfied (as about the adequacy of revision) in the case of the financial requirements for the Open Offer and the ability of the Acquirers to implement the Open Offer in accordance with the SEBI (SAST) Regulations, (b) that firm arrangements for payment through verifiable means have been put in place by the Acquirers to fulfill their obligations in relation to the Offer in accordance with the SEBI (SAST) Regulations.
In case of passed revision in the Offer Price and/or the Offer Size, the corresponding increase to the Escrow Amount as mentioned above shall be made by the Acquirers to ensure compliance with Regulation 16(5) of the SEBI (SAST) Regulations.
II. STATUTORY AND OTHER APPROVALS:
As on the date of the GPC, there are no statutory or other approvals required to acquire the Offer Shares that may be validly tendered pursuant to this Offer and/or to complete the Underlying Transaction except approval from BSE Limited and shareholders for Preferential Issue of warrants to the Acquirers. However, if any statutory or other approval(s) becomes applicable prior to the completion of the Offer, the Offer would also be subject to such statutory or other approval(s) being obtained and the Acquirers shall make necessary applications for such approval.
If the holders of the Equity Shares who are not persons resident in India (including NRA, CEOs and FAs) had required any approvals (including from the INR, the FPR or any other regulatory body) in respect of the Equity Shares held by them, they will be required to submit such previous approvals, that they would have obtained for holding the Equity Shares, to tender the Equity Shares held by them in this Offer, along with the other documents required to be tendered to accept the Offer, in the event such approvals are not submitted, the Acquirers must be the right to reject such Equity Shares tendered in this Offer.
In terms of Regulation 23 of the SEBI (SAST) Regulations, the Acquirers shall have the right to withdraw the Open Offer (a) in the event that any of statutory or other approvals specified in this Part VI (Statutory and Other Approvals) or those which become applicable prior to completion of the Open Offer are finally refused; or (b) if any of the conditions under the GPA, as set out in para 4 of Part II (Background of the Offer specified in this OPS are not satisfied for reasons outside the reasonable control of the Acquirer), in the event of such a withdrawal of the Open Offer, the Acquirers (through the Manager) shall, within 2 Working Days of such withdrawal, make an announcement of such withdrawal stating the amounts for the withdrawal in accordance with Regulation 23(2) of the SEBI (SAST) Regulations.
Subject to the receipt of the statutory and other approvals, if any, the Acquirers shall complete payment of consideration within 10 (ten) Working Days from the closure of the Tendering Period to those Public Shareholders whose documents are found valid and in order and are approved for acquisition by the Acquirers.
Where any statutory or other approval extends to some but not all of the Public Shareholders, the Acquirers shall have the option to make payment to such Public Shareholders in respect of whom no statutory or other approvals are required in order to complete this Open Offer.
In case of delay in receipt of any statutory approval(s) becoming applicable prior to completion of the Offer, SEBI may, if satisfied that the delay in receipt of requisite approval was not due to any willful default or neglect on the part of the Acquirers to diligently pursue the application for the approval, grant extension of time to the Acquirer for payment of consideration to the Public Shareholders of the Target Company who have accepted the Offer within such period, subject to the Acquirers agreeing to pay interest for the delayed period as directed by SEBI in terms of Regulation 16(11) of the SEBI (SAST) Regulations, further, if delay occurs on account of willful default by the Acquirer in obtaining the requisite approvals, Regulation 17(9) of the SEBI (SAST) Regulations will also become applicable and the Escrow Amount lying in the Escrow Account shall become liable to forfeiture.
VII. TENTATIVE SCHEDULE OF ACTIVITY:
| Activity | Day and Date |
|---|---|
| Issue of Public Announcement | Monday, May 18, 2020 |
| Publication of this Detailed Public Statement in newspapers | Monday, May 25, 2020 |
| Last date of filing of draft UIP with SEBI | Tuesday, June 02, 2020 |
| Last date for Public Announcement for competing offer | Tuesday, June 10, 2020 |
| Last date for receipt of comments from SEBI on the draft UIP | Tuesday, June 23, 2020 |
| Identified Date2 | Thursday, June 25, 2020 |
| Last date for dispatch of the LOP to the Public Shareholders | Friday, July 5, 2020 |
| Last date of publication by which a committee of independent directors of the Target Company is required to give its recommendation to the Public Shareholders of the Target Company for this Offer | Tuesday, July 7, 2020 |
| Last date for upward revision of the Offer Price and/or the Offer Size | Wednesday, July 8, 2020 |
| Date of publication of opening of Open Offer public announcement in the newspaper in which OPS has been published | Thursday, July 9, 2020 |
| Date of commencement of Tendering Period ("Offer opening Date") | Friday, July 10, 2020 |
| Date of closure of Tendering Period ("Offer Closing Date") | Thursday, July 23, 2020 |
| Last date of communicating of rejections/couplees and payment of consideration for accepted tendered return of unaccepted shares | Thursday, August 6, 2020 |
| Last date for publication of post Open Offer public announcement | Thursday, August 13, 2020 |
| Last date of filing the final report to SEBI | Thursday, August 13, 2020 |
2) Noted in Table is only for the purpose of determining the names of the Equity Shareholders of the Target Company on the identified Date or completion date given to those who have acquired Equity Shares (including those who have acquired Equity Shares) and who have not received the Equity Shares (including those who have acquired Equity Shares) in the past 12 months. The total amount of this payment is subject to the Open Offer. Accidental omission to send the LOP to any person for whom the Offer is made or the non-receipt of delayed receipt of the LOP by any such person will not invalidate the Offer in any way.
The LOP shall be sent through electronic means to those Public Shareholders(s) who have registered their email id with the depositions / the Company and also will be disposed through physical mode by registered post / speed post / courier to those Public Shareholders(s) who have not registered their email ids and to those Public Shareholders(s) who hold Equity Shares in physical form. Further, on receipt of request from any Public Shareholders to receive a copy of LOP in physical format, the same shall be provided.
The Public Shareholders may also download the LOP from the SEB's website (www.sebi.gov.in) or obtain a copy of the same from the Registrar to the Offer or providing suitable documentary evidence of holding of the Equity Shares and their folio number, OP identity-client identity, current address and contact details.
The Open Offer will be implemented by the Acquirers through a stock exchange mechanism made available by stock exchange in the form of a separate window ("Acquisition Window"), as provided under the "Eazme" and "Eazme Account". The LOP will be used to the "Eazme" and the "Eazme" and the "Eazme" and the "Eazme" and the "Eazme" and the "Eazme" and the "Eazme" and the "Eazme" and the "Eazme" and the "Eazme" and the "Eazme" and the "Eazme" and the "Eazme" and the "Eazme" and the "Eazm" and the "Eazm" and the "Eazm" and the
3) The LOP shall be sent through electronic means to those Public Shareholders (i) who have registered their email id with the depositions / the Company and also will be disposed through physical mode by registered post / speed post / courier to those Public Shareholders (ii) who have not registered their email ids and to those Public Shareholders (iii) who hold Equity Shares in physical form. Further, on receipt of request from any Public Shareholders to receive a copy of LOP in physical format, the same shall be provided.
The Public Shareholders may also download the LOP from the SEB's website (www.sebi.gov.in) or obtain a copy of the same from the Registrar to the Offer or providing suitable documentary evidence of holding of the Equity Shares and their folio number, OP identity-client identity, current address and contact details.
The Open Offer will be implemented by the Acquirers through a stock exchange mechanism made available by stock exchange in the form of a separate window ("Acquisition Window"), as provided under the "Eazm" and the "Eazm" and the "Eazm" and the "Eazm" and the "Eazm" and the "Eazm" and the "Eazm" and the "Eazm" and the
4) BSE shall be the designated stock exchange has been above or on the "Eazm" Shares in the Open Offer.
The Acquirers have appointed Power Ratios Share and Stock brokers Limited ("Buying Broker") as their broker for the Open Offer through whom the purchases and settlement of the Offer Shares tendered under the Open Offer shall be made. The contact details of the Buying Broker are as mentioned below:
| Name: | Power-Ratrial Share and Stock brokers Limited |
|---|---|
| Address: | Saeur 1, 5th Floor, Ogo Gandhigram Railway Station, Narvangpara, Ahmedabad - 380009 |
| SEBI Reg. No: | INZ000206732 |
| Email: | conjtrend.com |
| Contact Person: | Neta Jain |
5) Public Shareholders who desire to render their Equity Shares within the Open Offer would have to estimate their respective stockbrokers ("Selling Broker") within the normal trading hours of the secondary shares, as specified in the "Eazm" Shares policy (Part 2).
6) A separate acquisition window will be provided by the BSE to facilitate placing of sell orders. The Selling Broker can enter orders for dematerialized or well-accepted Equity Shares.
7) The Selling Broker would be required to place an order that on behalf of the Public Shareholders who wish to tender their Equity Shares in the Open Offer unless the acquisition window of the BSE. Before placing the bid, the Public Shareholders' Selling Broker concerned would be required to mark lien on the tendered Equity Shares. Details of such Equity Shares marked as lien in the demal account of the Public Shareholders shall be provided by the depositions to the Clearing Corporation in accordance with SEBI circular no. 0283/45/CF03325-AC00-F/0221/015 dated August 13, 2021.
The cumulative quantity tendered shall be displayed on the BSE website (www.tweinda.com) throughout the trading sessions at specific intervals during the Tendering Period.
8) As per the provisions of Regulation 40(1) of the SEBI (2009 Regulations and SEBI's prices release dated December 3, 2018, bearing reference no. PA 40/2018, required for transfer of securities shall not be processed unless the securities are held in dematerialized form with a depositary with effect from April 01, 2019. However, in accordance with the circular issued by SEBI bearing reference number SEBI/HO/CFO/ CME1/CM11/2003/144 dated July 27, 2020, shareholders holding securities in physical form are allowed to tender shares in an Open Offer. Such tendering shall be as per the provisions of the SEBI (2009) Regulations, Incomlying Public Shareholders holding Equity Shares in physical form as well are eligible to tender their Equity Shares in this Open Offer as per the provisions of the SEBI (SAST) Regulations.
9) The process of tendering Equity Shares by the Equity Shareholders holding in demal and physical Equity Shares will be repeated by the shareholders.
IX. THE SETALLED PROCEDURE FOR TENDERING THE EQUITY SHARES IN THE OFFER WILL BE AVAILABLE IN THE LETTER OF OPTER THAT WOULD BE DISPATCHED TO THE EQUITY SHAREHOLDERS OF THE TARGET COMPANY AS ON THE IDENTIFIED DATE.
X. OTHER INFORMATION:
The Acquirers accept full responsibility for the information contained in the PA and this OPS (other than such information as has been obtained from public sources or provided by or relating to and confirmed by the Target Company and/or the Sellers) and under take that they are aware of and will comply with their obligations as laid down in the SEBI (SAST) Regulations in respect of this Open Offer.
- The information pertaining to the Target Company contained in the PA or OPS or any other advertisement/publications made in connection with the Open Offer has been compiled from information published or publicly available sources or as provided by the Target Company, the Acquirers and Manager to the Offer have not independently verified such information and do not accept any responsibility with respect to any information provided in the PA or this OPS pertaining to the Target Company.
Pursuant to Regulation 12 of SEBI (SAST) Regulations, the Acquirers and PACs have appointed Vinn Financial Services Private Limited (SEBI Reg. No. MB/IRM000010122), as the Manager to the Open Offer as per the details below.
| VIVRO | Vinn Financial Services Private Limited Address: Vinn House, 11 Shastri Colony, Ogo. Suvidha Shopping Centre, Park, Ahmedabad - 380007, Gujarat, India 08-18712052/IMNPT0229182, Tel No. 079-4045-6242; Email: [email protected], www.vnjirvinnindia.com, www.vnjirvinnindia.com SEBI Reg. No. 00000003753 Contact Person: K Sreapriya |
|---|---|
1) This OPS and the PA shall also be available on SEBI's website at www.sebi.gov.in and on the website of Manager to the Offer at www.vivro.net
Issued by Manager to the Offer on behalf of the Acquirers:
| Sd: | Sd: | Sd: | Sd: |
|---|---|---|---|
| Vinech Shoji Dhola | Jagibit Ghela Dhola | Shirji Ahrenshi | Jagirit Vinech Dhola |
| (Acquirer 1) | (Acquirer 2) | Dhola | (Acquirer 3) |
| (Acquirer 4) |
Date: May 23, 2020
Place: Ahmedabad
MONDAY, MAY 25, 2018
22
INTEGRAL PROGRESS COMPUTATION
FINANCIAL EXPRESS
LIPPI SYSTEMS LIMITED
Registered Office: 401 & 402, 1000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
IN TODAY OF REGULATIONS 1325, 1425 AND 1525 ARE OTHER APPLICABLE REGULATIONS OF THE 22nd International Conference on Financial and Commercial Research on Financial and Commercial Management of the World Bank, 2018-2019 INTEGRAL PROGRESS COMPUTATION, 2018-2019 (REGULATIONS)
Open 2018 for the opposition of up to $1,000,000 (TOTAL) These LAPPI Styles That Transcend The World Bank And The U.S. Bank and the United States Under $10000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
"In the first year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $1000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
"In the second year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $1000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
"In the third year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $10000000000000000000000000000000000000000000000000000000000000000000000000000000000
The first year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $100000000000000000000000000000000000000000000000000000000000000000000000
"In the second year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $10000000000000000000000000000000000000000000000000000000000000000000000000
"In the third year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $100000000000000000000000000000000000000000000000000000000000000000000000
0
"In the fourth year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $10000000000000000000000000000000000000000000000000000000000000000000000000000000000000
"In the fifth year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $100000000000000000000000000000000000000000000000000000000000000000000000000000000
0
"In the seventh year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $100000000000000000000000000000000000000000000000000000000000000000000000000
"In the seventh year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $100000000000000000000000000000000000000000000000000000000000000000000000000
0
"In the seventh year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $10000000000000000000000000000000000000000000000000000000000000000000000000000000000
"In the seventh year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $10000000000000000000000000000000000000000000000000000000000000000000000000000000000000
0
"In the seventh year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $10000000000000000000000000000000000000000000000000000000000000000000000000000000000000
"In the seventh year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $1000000000000000000000000000000000000000000000000000000000000000000000000000000000000
0
"In the seventh year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $1000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
0
"In the seventh year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $10000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
0
"In the seventh year of the International Conference on Financial and Commercial Management of the World Bank, the U.S. Bank and the United States under $10000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000
WWW.TIHANGALEXPRESS.COM
FINANCIAL EXPRESS
MONDAY, MAY 25, 2026
15
| No. | Particulars | Price or if per Equity Stock |
|---|---|---|
| 1 | Pay from may/should be paid in part or outside for expenditure by the Company (18). Specify (if needed) including (annually) the total amount of payment for the tax on the part of taxed items for the tax on the part of the company (18). Specify (if needed) including (annually) the total amount of tax on the part of the company (18). | N.S. |
| 2 | The rates for weighted average market price of shares for a period of 30 (melting days immediately) according the date of 1% as noted on the stock (concession) where the maximum volume of trading to the shares of the "Brand" (18) is 100% (18) or 100% (18) of the total amount of the "Brand" (18) is 100% (18) of the total amount of the "Brand" (18) is 100% (18) of the total amount of the "Brand" (18) is 100% (18) of the total amount of the "Brand" (18) and the total amount of the "Brand" (18) and the total amount of the "Brand" (18) and the total amount of the "Brand" (18) and the total amount of the "Brand" (18) | N.S. |
FINANCIAL EXPRESS
| Date | Price |
|---|---|
| 1 | For the year ended December 31, 2025 |
DIGJAM LIMITED
A FINQUEST Group Company
ON : L1712722819PLC036291
Registered Office : Door No. 508/A/B, GVG Nagar, Prathapultur, Swaminathapuram
Palam Taluk, Dinggul District, Swaminathapuram, Dinggul, Palam, Tamil Nadu, India, 642113
E-mail : [email protected]; Website : www.digjam.co.in
Statement of Audited Financial Results for the quarter and financial year ended March 31, 2026. (See Regulation 47 (1) (b) the SEBI (LODR) Regulations, 2015)
The Board of Directors of the Company at the meeting held on Saturday, May 23 2026, approved the Audited Financial Results of the Company for quarter and financial year ended March 31, 2026. The results along with the Audit Report have been uploaded on the website and the same can be accessed by scanning the QR code.
Date: Monday 25, 2026
Place: Mumbai
BALLARPUR INDUSTRIES LIMITED
DIGJAM
0% who you are
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TAKEN, FORCE
APPLIO TYRES LTD
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12 | जून 2026 |
THE HEALTH AND HEALTH EDUCATION OF THE SCIENTIFIC INFORMATION OF LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
The Health and Health Education of the University of Oxford
The Health & Health Education of the University of Oxford is a private and public service service. The Health & Health Education of the University of Oxford is a private service service. The Health & Health Education of the University of Oxford is a private service service. The Health & Health Education of the University of Oxford is a private service service.
LIPPI SYSTEMS LIMITED
The Health & Health Education of the University of Oxford
The Health & Health Education of the University of Oxford is a private service service. The Health & Health Education of the University of Oxford is a private service service.
LIPPI SYSTEMS LIMITED
The Health & Health Education of the University of Oxford
The Health & Health Education of the University of Oxford is a private service service. The Health & Health Education of the University of Oxford is a private service service.
LIPPI SYSTEMS LIMITED
The Health & Health Education of the University of Oxford
The Health & Health Education of the University of Oxford is a private service service. The Health & Health Education of the University of Oxford is a private service service.
LIPPI SYSTEMS LIMITED
The Health & Health Education of the University of Oxford
The Health & Health Education of the University of Oxford is a private service service. The Health & Health
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The Health & Health Education of the University of Oxford is a private service service. The Health & Health
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The Health & Health Education of the University of Oxford is a private service service. The Health & Health
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The Health & Health Education of the University of Oxford is a private service service. The Health & Health
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The Health & Health Education of the University of Oxford is a private service service. The Health & Health
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The Health & Health Education of the University of Oxford is a private service service. The Health
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LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
LIPPI SYSTEMS LIMITED
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| No. | Particulars | Price |
|---|---|---|
| No. | Or if you Equally Obtain a | |
| 1 | Inhaled hypopituitarone under the URA 6.5 kB | 65.64 |
| 2 | The relative weight of average pulse and of a capable for acquisition by the URA 6.5 kB | 65.64 |
| 3 | Pulsed pulse and of a capable for any acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 6.2 |
| 4 | The relative weight of average mental state of interest for a period of 60 s, during day immediately preceding the data of 10 s or better on the return of the first 60 s | 65.64 |
| 5 | During the period during the six day in minutes preceding the data of 10 s | 65.64 |
14
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | The relative weight of average pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 6.2 |
| 3 | Pulsed pulse and of a capable for any acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
15
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | The relative weight of average pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
16
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
17
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
18
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
19
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
20
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
21
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
22
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
23
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
24
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
25
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
26
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
27
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
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| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
29
| No. | Particulars | Price |
|---|---|---|
| 1 | Inhaled hypopituitarone for acquisition by 6.5 kB | 65.64 |
| 2 | Pulsed pulse and of a capable for acquisition by the Acupoint / URA during 24 weeks immediately preceding the data of 10 kB | 65.64 |
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2018-03-28 09:45:44
नई दिल्ली
| No. | Particulars | Price for 9 per Equity Brand |
|---|---|---|
| 1 | Purpose: registered price under the OPA & FDA | ₹9.50 |
| 2 | Purpose: price for any product sold in a product for any product in the U.S. (e.g. drug or service, or product of a product in the U.S. or any other state, including the United States, or any other state, including the United Kingdom) | N.A. |
| 3 | Method of the sale or possible for any unqualified by the Acquaintor, or any during the various proceedings (including the total of the PA, the federal, or the state) | ₹4.00 |
| 4 | Purpose: the nature of the product sold in the U.S. or any other state, including the United States, or any other state, including the United Kingdom, or any other state, including the United States, or any other state, including the United States, or any other state, including the United States, or any other state, or any other state, including the United States, or any other state, or any other state, or any other state, or any other state, or any other state, or any other state, or any other state, or any other state, or any other state, or any other state, or any other state, or any other | ₹4.50 |
10. TENTATIVE SCHEDULE OF ACTIVITY
| Activity | Day and Year |
|---|---|
| Price of Fulfillment | ₹100.00 (in thousands) |
| Selling Price | ₹100.00 (in thousands) |
| Selling Price (Non-tax rate) | ₹100.00 (in thousands) |
| Selling Price (Net Income) | ₹100.00 (in thousands) |
11. PERFORMANCE
| Performance | Performance |
|---|---|
| Selling Perceived Value | Selling Perceived Value |
| Selling Perceived Value (Unsellable) | Selling Perceived Value |
12. PERFORMANCE
| Selling Perceived Value | Selling Perceived Value |
|---|---|
| Selling Perceived Value (Settlement) | Selling Perceived Value |
13. PERFORMANCE
| Selling Perceived Value | Selling Perceived Value |
|---|---|
14. PERFORMANCE
| Selling Perceived Value | Selling Perceived Value |
|---|---|
15. PERFORMANCE
| Selling Perceived Value | Selling Perceived Value |
|---|---|
16. PERFORMANCE
| Selling Perceived Value | Selling Perceived Value |
|---|---|
17. PERFORMANCE
| Selling Perceived Value | Selling Perceived Value |
|---|---|
18. PERFORMANCE
| Selling Perceived Value | Selling Perceived Value |
|---|---|
19. PERFORMANCE
| Selling Perceived Value | Selling Perceived Value |
|---|---|
20. PERFORMANCE
| Selling Perceived Value | Selling Perceived Value |
|---|---|
21. PERFORMANCE
| Selling Perceived Value | Selling Perceived Value |
|---|---|
22. PERFORMANCE
| Selling Perceived Value | Selling Perceived Value |
|---|---|
9 E
INNECOLE. JÚNIQUE. AT. EN EL ÁGAN
துஷ்பார்க்கம் விதவின்
LIPPI SYSTEMS LIMITED
Registered Office: 021 & 022, 8th Floor, England, England, UK. Post Office: 021 344 611, 021 344 611, 022 022, 8th Floor, England. For more information please contact: P.O. Box 100, 8000 BURBAN, WASHINGTON, D.C. 20005. LIPPI SYSTEMS LIMITED is not registered in the UK. Please do not alter the information.
10 FORM OF REGULATIONS. THIS, USES AND THE OTHER APPLICABLE REGULATIONS OF THE SECURITIES AND CONDITIONS PROHIBITED. BEFORE THE 30 MARCH 2018 REGULATIONS REGULATIONS, 2011 AND SURVEYING PERFORMANCE FORM (2011) (ISO LEAVE 0000001) Form 10 for the acquisition of an In-End 2011 (Tikrit, Times, Time & Date) Tax, Financial Tax, Accident Tax, Risk, and other tax credits shown on Form 10 for a tax return. Taxes: Tax, including tax credits, tax amounts, and other taxes. Tax credits are payable to: The Tax Code, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice, Tax Invoice.
"Public Statements made by the Secretary of Taxation, and the State of New York, 30 MARCH 2018," 2018, 83th, 2018, 8th, 2018, 8th, 2018, 8th, 2018, 8th, 2018, 8th, 2018, 8th, 2018, 8th, 2018, 8th, 2018, 83rd, 2018, 83rd, 2018, 83rd, 2018, 83rd, 2018, 83rd, 2018.
"Article 10. The tax return of the tax return, including tax credits, is limited to the tax and credit card, and is subject to the tax and credit card terms. The tax and credit card terms are subject to the tax and credit card terms, and are subject to the tax and credit card terms, and are subject to the tax and credit card terms, and are subject to the tax and credit card terms, and are subject to the tax and credit card terms, and are subject to the tax and credit card terms, and are subject to the tax and credit card terms, and are subject to the tax and credit card terms, and are subject to the tax and credit card terms, and are subject to the tax and credit card terms, and are subject to the tax and credit card terms, and are subject to the tax and credit
LIPPI SYSTEMS LIMITED
Registered Office: 021 & 022, 8th Floor, England, England, UK. Post Office: 021 344 611, 021 344 611, 022 022, 8th Floor, England. For more information please contact: P.O. Box 100, 8000 BURBAN, WASHINGTON, D.C. 20005. LIPPI SYSTEMS LIMITED is not registered in the UK. Please do not alter the information.
11. Revised Statements
"This document is issued in the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York, and the State of New York,
ફાયનાન્સિયલ સોફેસીસ
| No | Particulars | Price |
|---|---|---|
| 1 | No | No from Agency Stock |
| 2 | Expenses (income) per annum from 2014-2018 | $0.00 |
| 3 | This income weighted average price paid in baseline for acquisitions by the company | $0.00 |
| 4 | Expenses (income) per annum from 2014-2018 for the 2014-2018 period | $0.00 |
| 5 | Inability, pay immediately preceding the date of the tax based on the above (exchanges where the maximum volume of funding in the shares of the Target Company are not held during tax business) | $0.00 |
| 6 | For income and death (exempt in excess of tax) of interest for a period of 10 years | $0.00 |
| 7 | For the tax and death (income) in excess of tax, the tax is applied for a period of 10 years | $0.00 |
MILESTONE GLOBAL LIMITED
THE TENTATIVE ECONOMICALLY AFFECTING THE TAX IN EFFECT OF TAX IN EFFECTIVE MILITARY OPPORTUNITY
NOTICE TO INARERVULCERS
(For transfer of equity shares of the Company by Investor Education and Protection Fund (IEPF) Account)
EXTRACT OF STATEMENT OF STANDARD OF A COMMUNICATE ACQUIRED
RESOLUTIONS THE QUARTERLY IN VITAM ETHNIC INSTITUTIONS TO THE TAX IN EFFECT
| Particulars | STANDARD OF A COMMUNICATION | CONVOCABILITY OF TAX IN EFFECT | ||||
|---|---|---|---|---|---|---|
| Value in Exempts | Exempts per share | Value in Exempts | Value in Exempts | Exempts per share | Value in Exempts | |
| Exhibit No. 1 | Exhibit No. 2 | Exhibit No. 3 | Exhibit No. 4 | Exhibit No. 5 | Exhibit No. 6 | |
| Total Income | Less: $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| 1 | Less: $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| 2 | Less: $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| 3 | Less: $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
The Tax Expenditure of Agency Stock is the tax in the tax in the 2014-2018 period, the tax in the 2014-2018 period, the tax in the 2014-2018 period, the tax in the 2014-2018 period, the tax in the 2014-2018 period, the tax in the 2014-2018 period, the tax in the 2014-2018 period, the tax in the 2014-2018 period, the tax in the 2014-2018 period, and the tax in the 2014-2018 period.
The tax in the tax in the 2014-2018 period is the tax in the tax in the tax in the 2014-2018 period, the tax in the tax in the tax in the tax in the tax in the tax in the tax in the tax in the tax in the tax in the tax in the tax in the tax in the tax in the tax in the tax in the tax
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^{}[]