Antariksh Industries Ltd

Offer overview

• Open offer to acquire up to 6,31,785 shares (26%) at ₹86 per share.
• Offer is cash and not subject to minimum acceptance; not a competing offer.

Transaction and promoters

• SPA to acquire 1,50,599 promoter shares (6.20%); promoter Gitaben Patel is the seller.
• Post-offer, Acquirer and PAC would hold 90.37%; promoters become public shareholders.

Financing and escrow

• Maximum offer consideration ₹5.433 crore; escrow ₹1.65 crore with Axis Bank.
• Manager confirms adequate resources; no borrowings planned for the Open Offer.

Timelines and regulatory

• Identified date 18 Aug 2026; offer opens 2 Sept 2026 and closes 16 Sept 2026.
• No current statutory approvals; withdrawals allowed if approvals are refused or delayed.

Implementation mechanics

• Implementation via BSE window; SW Capital as Buying Broker; Purva Sharegistry as registrar.
• Promoters cease to be Promoters; post-completion, they become public shareholders.

Resolution details and outcome

• Purpose: Special resolution to issue equity shares by way of preferential issue.
• Process: Postal Ballot; voting concluded 27 July 2026; results announced.
• Votes polled: 165,659; in favour: 165,659; against: 0.
• Promoter group votes in favour: 150,599 (100% of promoter votes polled).
• Public-non-institutions votes in favour: 15,060 (33.50% of votes polled).
• Record date: 19-06-2026; Scrutinizer: Nayan Pitroda.
• Outcome: Special resolution approved; passed with requisite majority.
• Key terms not disclosed: amount, price, and number of shares.
• Promoter interest acknowledged; no abstentions indicated.

Meeting Details

• Board meeting scheduled for July 24, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited financial results for the quarter ended June 30, 2026.

Other Notes

• Trading window for designated persons closed from July 1, 2026 for 48 hours after the announcement.

Dematerialisation status

• Dematerialisation requests processed by the Registrar and Share Transfer Agent and confirmed to depositories.
• Securities dematerialised were listed on the stock exchanges where the earlier issued securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled; depository name substituted within 15 days.

Open offer overview

• Open offer to acquire up to 6,31,785 shares representing 26% of Emerging Voting Capital at ₹86.
• Acquirer: Alpitkumar Gor; PAC: Riddhi Infocom Solutions LLP; price ₹86 per share payable in cash.
• Maximum consideration ₹5,43,33,510 for full acceptance.
• Promoter Seller to transfer 1,50,599 shares (6.20%) on completion.
• Board approved issue of 22,25,000 shares at ₹86 to Acquirer, PAC, and non-promoters.
• Escrow of ₹165.00 Lakhs (30.36% of max) with Axis Bank; Manager to operate escrow.
• Post-offer, combined holding expected at 21,95,934 shares (90.37% of Emerging Voting Capital).
• Identified date Aug 04, 2026; offer opens Aug 18, 2026; closes Sept 01, 2026.
• No statutory approvals required presently; withdrawal possible if approvals are not obtained.
• Target FY2025-26 revenue ₹516.66 lakh; PBT ₹8.79 lakh; PAT ₹6.15 lakh; net worth ₹167.63 lakh.

Open offer details

• Promoter-Share Purchase Agreement dated June 26, 2026 between Acquirer and Promoter Seller.
• Acquirer and PAC to acquire aggregate equity shares representing a portion of Emerging Voting Share Capital.
• Open offer window: tendering period from August 18, 2026 to September 1, 2026.
• Escrow account with Axis Bank established for deal proceeds.
• Promoter Seller: Parijat Eclate, Ahmedabad; transfer to Acquirer's demat account.
• No SEBI stat approvals required as of DPS date.
• Acquirer/PAC to become Promoters subject to regulatory approvals and shareholder approval.
• Target Company listed on BSE; current trade status unaffected.
• No wilful default status or prohibited by SEBI for Acquirer/PAC.
• Board approvals and shareholder approvals required; outcomes pending.