Acquirer and PAC Initiate Open Offer for Antariksh Industries Ltd Following Substantial Share Acquisition

Acquirer and PAC Initiate Open Offer for Antariksh Industries Ltd Following Substantial Share Acquisition​

A triggered Open Offer has been launched by Mr. Alpitkumar Pravinchandra Gor and Riddhi Infocom Solutions LLP, targeting shareholders of Antariksh Industries Limited. The offer is being managed by Mark Corporate Advisors Private Limited.

The acquisition aims to gain control over the target company following a structured transaction involving both a Share Purchase Agreement (SPA) and a Preferential Issue.

Open Offer Details​

The open offer allows interested parties to acquire equity shares of Antariksh Industries Limited at a fixed price, with the potential for high market penetration given the scale of the intended acquisition.

Key details of the offering are as follows:

• Offer Price: 86/- per equity share (face value 10/-).
• Total Consideration: The consideration aggregates to 5,43,33,510 upon full acceptance in the Open Offer.
• Payment Mode: Cash.
• Offered Shares: Up to 6,31,785 fully paid-up equity shares were offered for acquisition through this announcement and subsequent documentation.

Transaction Structure and Shareholding​

The underlying transaction involves two main components: a direct acquisition via SPA and the issuance of new equity shares through a Preferential Issue. This dual approach results in significant proposed control for the Acquirer and PAC (Publicly Advertised Company).

The combined transactions involve the purchase and allotment of 15,64,149 shares against Antariksh Industries Limited's existing capital base.


The total shareholding accumulated by the Acquirer and PAC (Mr. Alpitkumar Pravinchandra Gor and Riddhi Infocom Solutions LLP) amounts to 64.37% of the Emerging Voting Share Capital, which stands at 2,42,99,400 equity shares on a fully diluted basis.

Selling Shareholder Details​

The transaction includes a direct acquisition from the Promoter Seller, Mrs. Gitaben Nitinbhai Patel.

Mrs. Gitaben Nitinbhai Patel holds 1,50,599 shares, representing 6.20% of the Emerging Voting Share Capital before the open offer process concludes. Upon completion of the transaction, the shareholding held by this seller is projected to become Nil in terms of percentage and number.

Company and Acquirer Details​

Antariksh Industries Limited's existing paid-up equity share capital stands at 20,49,400 shares (face value 10/- each). The company is listed on the BSE with Scrip Code: 501270.

The controlling interest will be vested in Mr. Alpitkumar Pravinchandra Gor and Riddhi Infocom Solutions LLP upon the completion of the Open Offer, classifying them as Promoters of the Target Company.

Stock Price Movement​

Antariksh Industries Ltd. shares settled at ₹7.31 in the post-market session on Thursday, completing a gain of +4.88%. The stock traded completely flat throughout the trading period.