Duke Offshore Limited has undergone a significant change in ownership as Aspect Global Ventures Private Limited acquired a controlling stake of 70.61% in the company. The acquisition involves the purchase of 69,59,800 equity shares from three promoter family members: George Albert Donald Duke, Avik George Duke, and Komal Duke. This transaction marks the entry of Aspect Global Ventures into the promoter category of the offshore services provider, fundamentally altering its shareholding pattern and corporate governance structure.

The deal was formalized through a Share Purchase Agreement executed on June 11, 2026, between the acquirer, the sellers, and the target company. The consummation of the share transfer took place on July 21, 2026. In compliance with Regulation 29(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the details of the acquisition were intimated to BSE Limited on July 23, 2026.

Transaction Details

The acquisition represents a substantial block transfer from the existing promoter group to an external entity. Prior to this transaction, Aspect Global Ventures held nil shares in Duke Offshore Limited. Post-acquisition, it holds 69,59,800 shares carrying voting rights, which constitutes 70.61% of the total share capital and 70.61% of the total diluted share/voting capital.

Shareholding Structure

Duke Offshore Limited’s total equity share capital remains unchanged at ₹9,85,72,000/-, divided into 98,57,200 fully paid-up equity shares of ₹10/- each. The total diluted share/voting capital also remains at 98,57,200 shares. The acquisition did not involve any warrants, convertible securities, or other instruments entitling the acquirer to receive shares. There are no encumbrances such as pledges or liens on the acquired shares.

Promoter Classification

Following the acquisition, Aspect Global Ventures Private Limited is classified as a promoter with effect from July 21, 2026. This reclassification signifies that the new entity now exercises control over the company’s management and policies. The disclosure was signed by Ashutosh Janak Kumar Thakar, Director of Aspect Global Ventures Private Limited, on July 23, 2026, in Mumbai.

Duke Offshore Limited reported a net loss of ₹28.06 lakh for the quarter ended June 30, 2026, narrowing from a loss of ₹39.56 lakh in the corresponding quarter of the previous year. The company recorded zero revenue from operations, with total income of ₹5.96 lakh derived solely from other income. Total expenses for the period stood at ₹34.02 lakh.

The Board of Directors approved the unaudited financial results for Q1FY26 at a meeting held on July 17, 2026. The results were reviewed by the Audit Committee and are prepared in accordance with the Indian Accounting Standards (Ind AS) prescribed under the Companies Act, 2013. The statutory auditors, Kirtane & Pandit LLP, reviewed the results pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The company's financial performance for the quarter reflects a continued lack of operational revenue. Employee benefits expense accounted for the largest share of costs at ₹13.91 lakh, followed by other expenses at ₹15.53 lakh and depreciation at ₹4.17 lakh.

For the financial year ended March 31, 2026, the company reported a net loss of ₹64.82 lakh with a total income of ₹155.48 lakh. The paid-up equity share capital remained constant at ₹985.72 lakh. The company operates in a single segment focused on offshore business, hence segment-wise reporting is not applicable.