Acquirer and PAC Launch Open Offer for Antariksh Industries Ltd at ₹86 per Share

Acquirer and PAC Launch Open Offer for Antariksh Industries Ltd at ₹86 per Share​

A combined offer has been launched by Mr. Alpitkumar Pravinchandra Gor and Riddhi Infocom Solutions LLP (PAC) for the acquisition of Equity Shares in Antariksh Industries Limited. The open offer is intended to acquire up to 6,31,785 fully paid-up equity shares representing 26.00% of the Emerging Voting Share Capital of the Target Company.

The Open Offer stipulates an Offer Price of ₹86/- per Equity Share, which is payable in cash and is not conditional upon any minimum level of acceptance. The tendering period for this offer is scheduled to commence on August 18, 2026, and close on September 01, 2026.

The acquisition framework includes the purchase of 1,50,599 equity shares from the Promoter Seller, Mrs. Gitaben Nitinbhai Patel, through a Share Purchase Agreement (SPA). This SPA Sale Shares were acquired at ₹86/- each, amounting to ₹1,29,51,514/-, with an earnest money deposit of ₹5,00,000/- paid upon execution.

Additionally, the Board of Directors of Antariksh Industries Limited approved the issue and allotment of 22,25,000 fully paid-up equity shares at a price of ₹86/- per share during a Preferential Issue. This allocation includes 7,78,750 shares for the Acquirer and 6,34,800 shares for the PAC, with the balance allocated to Non-Promoters.

Financial Strength and Valuation​

The Offer Price of ₹86/- per equity share was justified based on valuation parameters and market standing, as certified by CA Vaibhav N. Shah. The Fair Value per Equity Share was determined to be ₹86 per Equity Share.

The financial arrangements for the Open Offer include a commitment through a Cash Escrow Account maintained with Axis Bank Limited, holding an amount of ₹165.00 Lakhs, which constitutes 30.36% of the maximum consideration payable (₹5,43,33,510/-). The Acquirer and the PAC confirmed that they possess adequate financial resources to fulfill the obligations of the Open Offer using their own resources.

Company Financial Overview​

Antariksh Industries Limited is engaged in Real Estate & Trading Activities, civil construction, infrastructure projects, leasing, logistics, and manufacturing of construction materials. The company's share capital structure stands at 24,29,940 fully paid-up equity shares (100% of Emerging Voting Share Capital), comprising 2,04,940 existing fully paid-up Equity Shares and 22,25,000 shares proposed in the Preferential Issue.

The company demonstrated operational activity across the financial years reviewed:

Offer Details and Timeline​

The Open Offer details, along with the Detailed Public Statement (DPS) and Draft Letter of Offer (DLoF), were published across various publications including Business Standard in English, Hindi, and Gujarati, as well as Navshakti in Marathi.

Key dates associated with the transaction include:


The Open Offer was announced by Mr. Alpitkumar Pravinchandra Gor and Riddhi Infocom Solutions LLP to acquire up to the specified number of shares from all Eligible Equity Shareholders. The transaction involves both an open offer mechanism and a pre-arranged acquisition through SPA and Preferential Issue.

Stock Price Movement​

Antariksh Industries Ltd settled on Wednesday at ₹9.31, having risen by ₹0.44 or 4.96% in shares. The stock remained completely locked and flat throughout the day, with the intraday high and low both pegged at ₹9.31.