Lippi Systems Ltd (526604)

Lippi Systems Limited has received MCA approval and a fresh Certificate of Incorporation dated October 13, 2026, officially changing its name to Nilkanth Resources Limited. The name change aligns with the company's proposed new business activities in mining, processing, manufacturing, and trading of Bentonite and industrial minerals. The company reported zero revenue over recent quarters and holds a market cap of Rs 153 Cr, making this a pivotal pivot from its legacy operations. Stock exchange ticker and record updates are currently in progress.

• MCA approval and fresh Certificate of Incorporation received on October 13, 2026
• Company name officially changed from Lippi Systems Limited to Nilkanth Resources Limited
• Change aligns with planned entry into mining, processing, and trading of Bentonite and industrial minerals
• Stock exchange records and ticker display updates are currently in process

Lippi Systems announced the resignation of both its Chief Financial Officer, Gopalkrishna D. Sharma, and Company Secretary & Compliance Officer, Darshan Bipinchandra Shah, effective September 21, 2026. The departures follow the completion of an Open Offer and a consequent change in ownership and management control. The company stated it will initiate steps to appoint replacements for both Key Managerial Personnel positions. The stock trades at a market cap of Rs 153 Cr despite generating Rs 0 Cr in TTM revenue.

• CFO Gopalkrishna D. Sharma resigned effective close of business hours on September 21, 2026
• CS & Compliance Officer Darshan Bipinchandra Shah resigned effective September 21, 2026
• Resignations follow completion of Open Offer and resulting change in control and management
• Company trades at a market cap of Rs 153 Cr with TTM revenue of Rs 0 Cr

Lippi Systems announced the resignation of both its Chief Financial Officer, Gopalkrishna D. Sharma, and Company Secretary & Compliance Officer, Darshan Bipinchandra Shah, effective September 21, 2026. The departures follow the completion of an Open Offer and a consequent change in ownership and management control. The company stated it will initiate steps to appoint replacements for both Key Managerial Personnel positions. The stock trades at a market cap of Rs 153 Cr despite generating Rs 0 Cr in TTM revenue.

• CFO Gopalkrishna D. Sharma resigned effective close of business hours on September 21, 2026
• CS & Compliance Officer Darshan Bipinchandra Shah resigned effective September 21, 2026
• Resignations follow completion of Open Offer and resulting change in control and management
• Company trades at a market cap of Rs 153 Cr with TTM revenue of Rs 0 Cr

Lippi Systems has approved a complete overhaul of management and business objectives following the completion of an open offer and Share Purchase Agreement (SPA). Outgoing promoters agreed to sell 35,67,969 shares at ₹56.84 each for a total consideration of ₹20.28 crore. The board approved rebranding the company to 'Nilkanth Resources Limited' and amending its main object clause to enter integrated bentonite and mineral mining and processing. Jagdish Dholu was appointed Managing Director, while outgoing MD Nandlal Agrawal and statutory auditors resigned on August 27, 2026.

• Share purchase agreement completed for 35,67,969 shares at ₹56.84 per share (totaling ₹20.28 crore)
• Proposed company name change to 'Nilkanth Resources Limited' with a pivot to bentonite & mineral mining
• Appointment of Jagdish Dholu as Managing Director and Vinesh Dholu as Executive Director for 5-year terms
• Resignation of outgoing MD Nandlal Agrawal, WTD Kunal Agrawal, and Statutory Auditors Ashok Dhariwal & Co

Lippi Systems has approved a complete overhaul following the completion of an open offer, transferring 35,67,969 shares under a Share Purchase Agreement for Rs 20.28 crore (at Rs 56.84 per share). The company is renaming itself to 'Nilkanth Resources Limited' and changing its main business object to integrated bentonite and mineral mining and processing. Jagdish Dholu has been appointed as Managing Director and Vinesh Dholu as Executive Director for 5-year terms, while previous promoters and directors have resigned along with the statutory auditor.

• Transfer of 35,67,969 equity shares at Rs 56.84 each for a total consideration of Rs 20,28,03,357.96 to new acquirers
• Company name change approved to 'Nilkanth Resources Limited' subject to ROC approvals
• Main object clause amended to enter Integrated Bentonite and other minerals mining and processing
• Jagdish Dholu appointed as MD and Vinesh Dholu as ED for 5 years (August 27, 2026 to August 26, 2031)
• Resignation of outgoing promoters/directors and Statutory Auditor Ashok Dhariwal & Co.

Lippi Systems has completed a management transition following an open offer, with erstwhile promoters transferring 35,67,969 shares (under SPA) at Rs 56.84 per share for Rs 20.28 crore. The board approved renaming the company to 'Nilkanth Resources Limited' and altering its main objects to enter integrated bentonite and mineral mining and processing. Jagdish Dholu has been appointed as Managing Director and Vinesh Dholu as Executive Director for 5-year terms, while erstwhile MD Nandlal Agrawal and other directors resigned along with the statutory auditors.

• Promoters transferred 35,67,969 equity shares at Rs 56.84 each, totaling Rs 20.28 crore pursuant to SPA post open offer
• Proposed change of name to 'Nilkanth Resources Limited' subject to ROC and regulatory approvals
• Altered MOA main object clause to enter integrated bentonite and mineral mining & processing
• Appointed Jagdish Dholu as Managing Director and Vinesh Dholu as Executive Director for 5 years effective August 27, 2026
• Accepted resignations of outgoing Managing Director Nandlal Agrawal, WTD Kunal Agrawal, and statutory auditors Ashok Dhariwal & Co.

Lippi Systems announced a complete change of management control following the completion of an Open Offer. Outgoing promoters sold 35,67,969 shares (amounting to ₹20.28 Cr at ₹56.84/share) to the incoming acquirers. Alongside full reconstitution of the Board and the resignation of Statutory Auditors Ashok Dhariwal & Co., the company plans to change its name to 'Nilkanth Resources Limited' and shift business operations into integrated bentonite and mineral mining/processing.

• Promoters transferred 35,67,969 shares at ₹56.84 per share for a total consideration of ₹20,28,03,357.96
• Company name proposed to be changed to 'Nilkanth Resources Limited' alongside object clause change to Bentonite and mineral mining
• Jagdish Dholu appointed as Managing Director and Vinesh Dholu as Executive Director for 5-year terms ending August 26, 2031
• Former MD Nandlal Agrawal, WTD Kunal Agrawal, and statutory auditors Ashok Dhariwal & Co. resigned on August 27, 2026

Lippi Systems announced a total management and promoter transition following the completion of an open offer and a ₹20.28 Cr Share Purchase Agreement (35,67,969 shares at ₹56.84 per share). The board approved changing the company's name to 'Nilkanth Resources Limited' and altering its main objects clause to enter integrated bentonite and mineral mining and processing. Outgoing Managing Director Nandlal Agrawal and Whole-Time Director Kunal Agrawal resigned, while Jagdish Dholu was appointed Managing Director for a 5-year term. Statutory auditor Ashok Dhariwal & Co. also tendered their resignation to allow incoming management to realign audit processes.

• Share Purchase Agreement executed for 35,67,969 shares at ₹56.84 each, totaling ₹20.28 Cr.
• Proposed renaming of company to 'Nilkanth Resources Limited' alongside object clause change into bentonite mining.
• Mr. Jagdish Dholu appointed as Managing Director and Mr. Vinesh Dholu as Executive Director for 5-year terms w.e.f. August 27, 2026.
• Outgoing promoter directors including MD Nandlal Agrawal resigned; statutory auditors Ashok Dhariwal & Co. stepped down.

Lippi Systems has completed an open offer and management takeover, transferring 35,67,969 equity shares (~51.7% stake) for Rs 20.28 crore (Rs 56.84 per share). Following the takeover, previous promoters resigned, and Mr. Jagdish Dholu has been appointed as Managing Director alongside Mr. Vinesh Dholu as Executive Director for 5-year terms. The company also approved changing its name to 'Nilkanth Resources Limited' and altering its main business objects to enter integrated bentonite and minerals mining and processing.

• Share purchase of 35,67,969 equity shares executed at Rs 56.84 per share for Rs 20.28 crore total consideration
• Complete board reconstitution with appointment of Jagdish Dholu as MD and Vinesh Dholu as Executive Director for 5 years from August 27, 2026
• Outgoing promoter directors Nandlal Agrawal and Kunal Agrawal resigned, initiating promoter reclassification to public
• Proposed company name change to Nilkanth Resources Limited and MOA alteration to pivot into bentonite and mineral mining
• Statutory auditor Ashok Dhariwal & Co. resigned due to incoming management transition

Lippi Systems Ltd has completed an ownership transition following an open offer, with erstwhile promoters transferring 35,67,969 shares (priced at ₹56.84 each, total consideration ₹20.28 Cr) to new acquirers. Alongside complete board reconstitutions—appointing Jagdish Dholu as Managing Director and Vinesh Dholu as Executive Director for 5-year terms—the company approved changing its name to 'Nilkanth Resources Limited'. Additionally, the main object clause is being amended to pivot into integrated bentonite and mineral mining and processing. Statutory auditor Ashok Dhariwal & Co. has also resigned due to the management transition.

• Promoter share transfer of 35,67,969 equity shares completed at ₹56.84 per share, totaling ₹20,28,03,358
• Approval to change company name to 'Nilkanth Resources Limited' subject to ROC approvals
• MOA altered to enter integrated bentonite and minerals mining and processing business
• Jagdish Dholu appointed as MD and Vinesh Dholu as Executive Director for 5-year tenures (Aug 27, 2026 to Aug 26, 2031)
• Resignation of erstwhile promoter-directors Nandlal Agrawal and Kunal Agrawal, alongside statutory auditors

Lippi Systems has approved a complete change in management control following the conclusion of an open offer and execution of a Share Purchase Agreement (SPA). Under the SPA, incoming acquirers purchased 35,67,969 shares at ₹56.84 each for a total consideration of ₹20.28 crore. The company is changing its name to Nilkanth Resources Limited and amending its MOA to pivot into integrated bentonite and mineral mining and processing. Jagdish Dholu has been appointed Managing Director and Vinesh Dholu as Executive Director for 5-year terms, while the previous promoter directors and the statutory auditor have resigned.

• SPA executed for transfer of 35,67,969 equity shares at ₹56.84 per share, totaling ₹20.28 crore
• Company name to be changed to Nilkanth Resources Limited with MOA altered to bentonite and minerals mining/processing
• Jagdish Dholu appointed as Managing Director and Vinesh Dholu as Executive Director for 5 years until August 26, 2031
• Outgoing promoter directors (Nandlal Agrawal, Kunal Agrawal) and statutory auditor Ashok Dhariwal & Co have resigned
• Outgoing promoters approved for reclassification from Promoter to Public category

Lippi Systems approved its unaudited standalone financial results for Q1 FY27 (quarter ended June 30, 2026). The auditor's report highlighted an ongoing change of control where existing promoters agreed on May 18, 2026, to transfer 35,67,969 shares (50.97% stake) to new acquirers. Additionally, a preferential warrant issue and a mandatory open offer for up to 33,82,231 shares (25.05% of expanded equity) have been launched at Rs 56.84 per share. SEBI observations have been received, and the Letter of Offer has been dispatched.

• Promoters entered into an SPA to sell 35,67,969 equity shares, representing 50.97% of existing equity capital.
• Mandatory open offer triggered for up to 33,82,231 equity shares (25.05% of expanded capital) at Rs 56.84 per share.
• Board approved a preferential issue of convertible warrants at Rs 56.84 per warrant.
• SEBI observations received and tendering process commenced subsequent to June 30, 2026.

Lippi Systems approved its unaudited financial results for the quarter ended June 30, 2026. The statutory auditor highlighted the ongoing change in control pursuant to a Share Purchase Agreement dated May 18, 2026, where promoters agreed to sell 35,67,969 equity shares (50.97% stake) to incoming acquirers. An open offer for up to 33,82,231 shares (25.05% of expanded equity) at ₹56.84 per share has progressed post-SEBI observations with the dispatch of the Letter of Offer.

• Promoter group signed agreement to transfer 35,67,969 equity shares, representing 50.97% of existing equity capital.
• Mandatory open offer triggered for up to 33,82,231 shares (25.05% of expanded capital) at ₹56.84 per share.
• Proposed preferential issue of convertible warrants approved at an issue price of ₹56.84 per warrant.
• EGM convened on June 14, 2026 to approve the preferential issue and increase authorized capital; tendering process underway.