D & A Financial Services (P) Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Public Shareholders of Antariksh Industries Ltd ("Target ....
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D & A Financial Services, acting as Manager to the Offer, has submitted a Draft Letter of Offer to BSE for an open offer targeting the public shareholders of Antariksh Industries Ltd (BSE Scrip: 501270). The open offer is triggered by Mrs. Gitaben Nitinbhai Patel's acquisition of 1,03,400 equity shares (51.70% stake) from existing promoters Mr. Bhagwanji Narsi Patel and Mr. Utkarsh Goyal via a Share Purchase Agreement dated July 3, 2025, at Rs. 96 per share for a total of Rs. 99.26 lakhs. Under the open offer, the acquirer is offering to buy up to 52,000 equity shares (26% of voting capital) at Rs. 96 per share, aggregating to Rs. 49.92 lakhs, payable in cash. Post-offer, the acquirer will hold 77.70% of the company, resulting in a change of management control. The target company operates in real estate and trading, with FY25 revenue of Rs. 4,379 lakhs and PAT of Rs. 55 lakhs.
This signals a change of control at Antariksh Industries Ltd with the acquirer becoming the new promoter. Public shareholders have the option to tender their shares at Rs. 96 per share during the tendering period (August 26 to September 10, 2025). Shareholders should note the shares are infrequently traded on BSE, and the offer price reflects a premium over the book value of Rs. 80.74 per share.