Antariksh Industries has officially closed its open offer led by Alpitkumar Pravinchandra Gor and Riddhi Infocom Solutions. With the acquisition process finalized, promoter group shareholding has reached 15,74,857 shares. Public shareholding has tightened significantly, now representing just 1.79% of the voting capital.
Antariksh Industries Completes Open Offer Process
Promoter group stake reaches 15,74,857 shares; public float drops to 1.79% voting capital.
Reader Takeaway: The acquisition process is finalized, resulting in a significant reduction of the company's public float.
What just happened
Antariksh Industries has announced the successful completion of the open offer process initiated by Alpitkumar Pravinchandra Gor and Riddhi Infocom Solutions LLP. The offer, conducted under SEBI (SAST) Regulations, saw the final payments processed to public shareholders on September 24, 2026.
Why this matters
The acquisition significantly consolidates control under the new promoter group. While 6,31,785 shares were targeted in the open offer, only 10,708 were tendered, indicating limited public interest in selling at the offer price of Rs 86.00 per share.
Acquisition Breakdown
The acquirers built their stake through three primary methods:
- Share Purchase Agreement: 1,50,599 shares (6.20%)
- Preferential Issue: 14,13,550 shares (58.17%)
- Open Offer: 10,708 shares (0.44%)
Post-Offer Shareholding
The promoter group now holds a controlling interest of 15,74,857 shares. Consequently, the public shareholding has reduced from 2.23% (54,341 shares) to 1.79% (43,633 shares). This tightening of the float often impacts liquidity for retail shareholders.
What to track next
Investors should monitor future exchange filings for any changes in corporate governance or potential delisting considerations, given the significantly reduced public float.