Nature of the Event

This is a mandatory open offer made pursuant to Regulations 3(1) and 4 of the SEBI (SAST) Regulations, 2011. The offer is triggered by the acquisition of shares through a Share Purchase Agreement (SPA) and a proposed preferential issue of shares.

Key Quantitative Figures

  • Offer Price: ₹86 per equity share
  • Offer Size: 631,785 fully paid-up equity shares representing 26.00% of Emerging Voting Share Capital
  • Total Consideration: ₹5,43,33,510 (assuming full acceptance)
  • SPA Consideration: ₹1,29,51,514 for 150,599 shares (6.20% of Emerging Voting Share Capital)
  • Preferential Issue: 22,25,000 shares at ₹86 per share
  • Escrow Amount: ₹165.00 lakhs deposited (30.36% of maximum consideration)

Dates of Action

  • Public Announcement Date: June 26, 2026
  • Detailed Public Statement Date: July 03, 2026
  • Offer Opening Date: September 02, 2026
  • Offer Closing Date: September 16, 2026
  • Identified Date: August 18, 2026 (for determining eligible shareholders)

Parties Involved

Acquirers:

  • Mr. Alpitkumar Pravinchandra Gor (Individual)
  • Riddhi Infocom Solutions LLP (PAC)

Target Company: Antariksh Industries Limited (CIN: L46411GJ1974PLC176953)

Promoter Seller: Mrs. Gitaben Nitinbhai Patel

Manager to Offer: Mark Corporate Advisors Private Limited

Registrar to Offer: Purva Sharegistry (India) Private Limited

Escrow Bank: Axis Bank Limited

Buying Broker: SW Capital Private Limited

Transaction Details

The SPA was executed on June 26, 2026, for acquisition of 150,599 equity shares (6.20% of Emerging Voting Share Capital) from promoter Gitaben Patel at ₹86 per share. An earnest money deposit of ₹5,00,000 was paid on execution.

The Board of Directors approved preferential issue of 22,25,000 shares on June 26, 2026:

  • 7,78,750 shares to Alpitkumar Gor
  • 6,34,800 shares to Riddhi Infocom Solutions LLP
  • 8,11,450 shares to non-promoters

Shares allotted to acquirers in preferential issue will be kept in Demat Escrow Account until open offer completion.

Financial and Capital Structure Impact

Pre-Transaction Capital Structure:

  • Existing paid-up capital: ₹20,49,400 (2,04,940 shares of ₹10 each)
  • Promoter holding: 150,599 shares (73.48%)
  • Public holding: 54,341 shares (26.52%)

Post-Transaction Capital Structure (assuming full acceptance):

  • Emerging Voting Share Capital: ₹2,42,99,400 (24,29,940 shares)
  • Acquirer holding: 21,95,934 shares (90.37%)
  • Public holding: 2,34,006 shares (9.63%)

The public shareholding may fall below the minimum required 25%, and acquirers undertake to facilitate compliance within 12 months.

Procedure for Acceptance

Shareholders can tender shares through:

1. Demat Shares: Through stock exchange mechanism via selling brokers

2. Physical Shares: Submit original certificates, transfer deeds, and required documents to registrar

The offer will be implemented through BSE's acquisition window. Acceptance will be on proportionate basis in case of oversubscription.

Taxation Implications

Detailed tax implications are provided for:

  • Resident and non-resident shareholders
  • Classification as capital gains or business income
  • TDS requirements and rates
  • Documentation requirements for tax purposes
  • Surcharge and health & education cess applicable

Risk Factors

  • Offer may be withdrawn if statutory approvals are refused
  • Delay in acceptance/payment may occur if statutory approvals are delayed
  • Shares once tendered cannot be withdrawn
  • Non-resident shareholders must obtain requisite approvals
  • Market price fluctuations may affect shareholders during tender period

Documents Available for Inspection

Various documents including SPA, financial statements, valuation certificates, escrow confirmation, and SEBI observation letter are available for inspection at manager's office or electronically.

Declaration

Acquirers accept full responsibility for information in the document and compliance with SEBI regulations.

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