Antariksh Industries: Change of control via 73.48% stake sale, open offer triggered

Listed Co AcquisitionOpen Offer TriggeredStrategic Transactions View source PDF

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Price reaction · full curve 14 horizons · vs prior close

+10.1%1-day move

₹7.31

prior close

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After-mkt

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AI summary

Board approved a Share Purchase Agreement for sale of 73.48% stake (1,50,599 shares at Rs. 86 each, totalling Rs. 1.29 crore) by existing promoter Gitaben Patel to Riddhi Infocom Solutions LLP and Alpitkumar Gor. Acquirers will also receive shares via preferential allotment of 22.25 lakh shares at Rs. 86 each, raising about Rs. 19.14 crore. This triggers a mandatory open offer under SEBI takeover rules. New promoters to take control; existing promoter to be reclassified as public. Postal ballot sought for shareholder approval.

Likely market impact

Change of control and open offer ahead. Expect share price volatility. Existing promoter exits; new management takes charge. Equity dilution from preferential issue.