1. Change of control - Dholu family acquisition - On 18 May 2026, the Dholu family signed a Share Purchase Agreement to acquire 50.97% of Lippi Systems from the existing promoters and launched a mandatory open offer for the remaining 25.05% of the expanded share capital at ₹56.84 per share. A new controlling shareholder typically resets strategy and capital allocation, and the concurrent ₹36.95 cr warrant infusion signals the group is being recapitalised for a fresh business phase.
2. ₹36.95 cr preferential warrant issue - The Board approved a preferential issue of 65 lakh warrants at ₹56.84 each to the incoming Dholu promoters, raising ₹36.95 cr with 25% payable upfront and the balance on exercise within 18 months. The infusion is roughly 26% of the current market cap and gives the new entity a funded war chest for the diversification management has flagged.
3. Sale of Rakanpur land and building - ₹9.00 cr - A deed of sale was executed on 17 November 2025 with Kshetrapal Realty LLP for the Rakanpur property (7,770 sq m land, 6,142 sq m built-up area) at a total consideration of ₹9.00 cr. The sale converts a non-core legacy asset into cash that management has earmarked for new projects and diversification.
4. Sale of wind turbine undertaking - two 0.750 MW machines - Board approval was granted on 12 August 2025 to dispose of the Jamnagar wind turbines, which contributed 70% of FY25 revenue but ran at a segment loss, with proceeds directed toward future growth investments. Exiting a loss-making legacy business removes a drag on consolidated earnings and frees up capital tied in ₹2.92 cr of net-worth assets.
5. Rotogravure cylinder capacity expansion - Management reports an ongoing technology upgrade and capacity increase in electronically engraved cylinders for laminates, alongside new marketing and pre-press divisions to serve growing packaging demand. This is the only operating segment with segment assets of ₹20.2 cr as of June 2025, and debottlenecking it is the most direct route to reviving operating revenue.
6. Guttikonda family stake increase - 5.45% to 7.49% - On 25 June 2026, non-promoter shareholders Guttikonda Rajasekhar and Vara Lakshmi acquired an additional 2.04% via open market purchases, taking their combined holding to 7.49%. A sizeable minority shareholder raising its stake alongside the control transaction signals conviction in the post-acquisition value proposition.