Rikhav Securities has been subject to an open offer by its promoter group for the acquisition of up to 9,955,920 equity shares representing 26 per cent of the voting share capital. The offer is priced at Rs 47.75 per equity share and is for cash consideration. The total consideration, assuming full acceptance, is up to Rs 475.4 million (mn). The promoter group comprises Hitesh Lakhani, Deep Lakhani, Vaishali Shah and Bharti Lakhani, along with persons acting in concert, and they recently acquired approximately 3.251 million equity shares representing 8.48 per cent through market purchases. In line with SEBI guidelines, the acquisition triggered the open offer, and the promoters remain in control of the company. The transaction does not result in any change in management or control, and public shareholders may tender shares at the stated price under the prescribed framework. Rikhav Securities Limited, incorporated in 1995 and formally launched in 2005, is a diversified stock market services provider that offers equity and derivatives trading, market making and proprietary trading. Its broking arm provides tailored brokerage for a wide client base from high net worth investors to high volume traders, while its market-making unit supports new public offers by providing liquidity. The proprietary trading division deploys capital in algorithmic arbitrage, delta hedging and short-term strategies, and the firm has introduced a margin trading facility and paperless onboarding to bolster client services. The company launched a listing on the BSE SME platform in January 2025 with an initial public offering of Rs 888.2 million. For the financial year 2025, the group reported consolidated total income of Rs 3.2777 billion (bn), EBITDA of Rs 345.0 mn and net profit of Rs 236.7 million. Looking ahead, the promoter group intends to expand beyond Maharashtra and Gujarat and to develop a branded online presence while maintaining disciplined risk controls and client-focused growth.