Antariksh Industries Open Offer: 26% at ₹86 in 2026

Why Antariksh Industries is in focus

Antariksh Industries Limited is seeing heightened attention after disclosures around its shareholding pattern and a mandatory open offer that could materially change control. As of September 2026, promoter shareholding in Antariksh Industries stands at 73.48% of the company’s total shares. At the same time, an open offer has been announced by Alpitkumar Pravinchandra Gor and Riddhi Infocom Solutions LLP to acquire a further stake at a fixed price.

The developments matter because they combine two key elements investors track closely in small and mid-cap counters: promoter concentration and a change-in-control transaction. The reported transactions also include a preferential allotment and a share purchase agreement (SPA), both priced at ₹86 per share.

Latest shareholding snapshot (September 2026)

The shareholding pattern presented for Antariksh Industries highlights a high promoter holding and no institutional participation. On a reported snapshot dated September 2026 (timestamp shown as 25 Sep, 2026 | 10:15 IST), promoters are shown at 73.48%, mutual funds at 0%, and “Retail and other” at 26.52%.

Separately, a breakdown as of June 2026 lists promoters at 73.48%, FIIs at 0.00%, DIIs at 0.00%, public holding at 21.94%, mutual funds at 0.00%, and others at 4.58%. The June 2026 public holding plus others totals 26.52%, aligning with the “Retail and other” bucket shown in the September 2026 snapshot.

Promoter holding trend: Dec 2025 to Jun 2026

Promoter holding has been stable at 73.48% through multiple recent reporting periods, after a higher figure was shown in December 2025. A category table shows promoters at 73.48% in Jun 2026, Mar 2026, and Jan 2026, versus 75.30% in Dec 2025.

Another table of quarterly history shows promoter holding at 51.70% in Mar 2025, Jun 2025, and Sep 2025, then 75.30% in Dec 2025, followed by 73.48% in Mar 2026. The same table attributes the promoter stake in Dec 2025 and Mar 2026 to Mrs. Gitaben Nitinbhai Patel.

Change in control: Gitaben Patel’s stake and board changes

Antariksh Industries reported a change in control during the year in which Mrs. Gitaben Nitinbhai Patel acquired a 75.30% stake in the paid-up equity share capital. Following that change, the board was reconstituted.

The same disclosures state that Mrs. Ekta Shyamlal Haryani was appointed as Managing Director effective November 5, 2025. The data presented also indicates that former promoters had completely exited in the transaction that resulted in Mrs. Patel becoming the new promoter.

The mandatory open offer: who is acquiring and what is offered

A mandatory open offer has been launched by Alpitkumar Pravinchandra Gor (Acquirer) and Riddhi Infocom Solutions LLP (Person Acting in Concert, PAC) for Antariksh Industries. The offer is to acquire up to 6,31,785 fully paid-up equity shares, representing 26.00% of the Emerging Voting Share Capital.

The offer price is set at ₹86 per share, and the maximum consideration stated for the open offer is ₹5,43,33,510. The disclosures also state that the acquirer and the PAC currently do not hold any shares in the company.

What triggered the open offer under SEBI SAST

The open offer follows a Share Purchase Agreement dated June 26, 2026. Under the SPA, the acquirers purchased 1,50,599 shares from the existing promoter, Mrs. Gitaben Nitinbhai Patel.

This acquisition has been disclosed as 6.20% of the Emerging Voting Share Capital. The transaction value for this acquisition is stated as ₹1,29,51,514, and it is cited as the trigger for the mandatory offer under SEBI (SAST) Regulations, 2011.

Preferential allotment at the same price

Alongside the SPA, the company approved a concurrent preferential allotment of 22,25,000 shares at ₹86 per share. The disclosure notes that the acquirer and the PAC have agreed to subscribe to equity shares through the preferential issue.

This combination of SPA purchase and preferential allotment is central to the stated post-transaction ownership outcomes, as the emerging voting share capital changes after the allotment.

Offer timeline: tendering and payment dates

The tendering window for the open offer is scheduled from September 2, 2026 to September 16, 2026. The same timeline indicates that payment is slated for September 30, 2026.

These dates provide the formal window for eligible shareholders to tender shares at the offer price, subject to the terms of the open offer.

Post-offer shareholding and promoter reclassification

Assuming full acceptance of the open offer, the disclosures state that the acquirers will hold 21,95,934 shares, representing 90.37% of the emerging voting share capital post-offer. It is also stated that the existing promoter will be reclassified as a public shareholder.

A separate entity-level table details the split between the acquirer and PAC. It shows the Acquirer with 7,78,750 shares via SPA and preferential issue (32.05% of emerging capital) and a post-offer shareholding of 57.62%. It shows the PAC with 6,34,800 shares via SPA and preferential issue (26.12%) and a post-offer shareholding of 32.75%.

Key figures at a glance

Timeline of key events

Market impact: what the numbers indicate

The disclosures show Antariksh Industries with a concentrated promoter holding and no reported institutional ownership across mutual funds, FIIs, and DIIs. In such structures, any control transaction can quickly alter the promoter-public mix and the classification of key shareholders.

The open offer is priced at ₹86 per share, and the same ₹86 price point is referenced for the preferential allotment. If the open offer is fully accepted, the acquirer and PAC are stated to hold 90.37% of the emerging voting share capital, which would represent a significant concentration of ownership.

Why the development matters

The sequence of a June 26, 2026 SPA, a preferential allotment, and a September 2026 open offer frames a structured route to control. The disclosures also explicitly state the intention of the acquirer and PAC to take control of the management and become promoters of the company.

Separately, the earlier change in control where Mrs. Gitaben Nitinbhai Patel acquired 75.30% and the subsequent promoter figure of 73.48% provide context on how promoter ownership has shifted across quarters. The reported plan to reclassify the existing promoter as a public shareholder is another key datapoint that investors typically track during control changes.

Conclusion

Antariksh Industries’ latest shareholding data shows promoters at 73.48% as of June 2026, with the public and other categories together at 26.52% and no institutional holdings disclosed. The company is now in the middle of a mandatory open offer by Alpitkumar Pravinchandra Gor and Riddhi Infocom Solutions LLP for 26% at ₹86 per share, with tendering from September 2 to September 16, 2026 and payment slated for September 30, 2026.