New Promoters Take Control With 64.81% After Open Offer, SPA and Preferential Issue
Control of the company has changed hands.
By ScoutQuest · · 2 min read
- Alpitkumar Gor Holdings
- 842167 shares, 34.66%
- Riddhi Infocom Solutions LLP Holdings
- 732690 shares, 30.15%
- Combined New Promoter Holding
- 1574857 shares, 64.81%
- SPA Acquisition
- 1,50,599 equity shares (6.20%) from Mrs. Gitaben Nitinbhai Patel
- Preferential Issue Date
- 25/09/2026 - 7,78,750 and 6,34,800 shares allotted
What happened
The change of ownership at Antariksh Industries is now complete. Under a Share Purchase Agreement dated June 26, 2026, Mr. Alpitkumar Pravinchandra Gor (the Acquirer) and Riddhi Infocom Solutions LLP (the PAC) agreed to buy 1,50,599 equity shares, representing 6.20% of the equity share capital, from the then promoter Mrs. Gitaben Nitinbhai Patel.
That purchase has been completed — 52,709 shares by Mr. Gor and 97,890 shares by the LLP. Along with it, the Acquirer and PAC have acquired control and have become the promoters of the company.
New promoter shareholding
- Alpitkumar Pravinchandra Gor: 842167 shares, 34.66%
- Riddhi Infocom Solutions LLP: 732690 shares, 30.15%
- Total: 1574857 shares, 64.81%
How the new holdings were built
Mr. Gor's holding includes 52,709 shares (2.17%) from the outgoing promoter under the SPA, 10,708 shares (0.44%) picked up through the Open Offer, and 7,78,750 shares (32.05%) allotted by way of preferential issue on 25/09/2026.
The LLP's holding includes 97890 shares (4.03%) from the outgoing promoter under the SPA and 6,34,800 shares (26.12%) allotted by way of preferential issue on 25/09/2026.
So the bulk of the new promoter block comes from fresh preferential allotment rather than from the shares bought off the old promoter.
The outgoing promoter
Mrs. Gitaben Nitinbhai Patel no longer holds any equity shares in the company and has ceased to be promoter. She has written to the board asking to be reclassified from the promoter/promoter group category to the public category, confirming that she and related persons hold no more than 10% of voting rights, exercise no control, have no special rights, are not on the board, are not key managerial personnel, are not a wilful defaulter and are not a fugitive economic offender.
What it means for investors
A new promoter group now holds a clear majority of the share capital, which means decisions requiring shareholder approval will largely rest with them. The preferential issue also expands the share base, so existing shareholders' proportionate stake is diluted. Investors may want to track future announcements on business direction, board composition and the updated shareholding pattern.
Also from Antariksh Industries
Antariksh Industries Ltd shareholder buys 8.27% stake
30 Sep 2026
Antariksh Industries Ltd shareholder buys 12.94% stake
30 Sep 2026
Antariksh Industries Ltd shareholder buys 12.18% stake, holding rises to 12.18%
30 Sep 2026
More numbers
- Shares acquired from erstwhile promoter under SPA1,50,599 equity shares
- Stake acquired under SPA6.20%
- Shares acquired by Acquirer under SPA52,709 Equity Shares
- Shares acquired by PAC under SPA97,890 Equity Shares
- Acquirer total holding842167
- Acquirer holding percentage34.66%
- PAC total holding732690
- PAC holding percentage30.15%
- Total new promoter holding1574857
- Total new promoter percentage64.81%
- Preferential shares allotted to Acquirer7,78,750 Equity Sharees
- Preferential shares allotted to PAC6,34,800 Equity Sharees
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