Antariksh Industries Limited , a publicly listed company, has announced a comprehensive restructuring of its board and key management personnel following a significant change in company control. The board meeting held on November 4, 2025, approved multiple resignations and appointments, marking a new chapter in the company's leadership.

Resignations

The company witnessed the departure of several key figures:

• Mr. Bhagwanji Narsi Patel resigned from his position as Executive Director and Managing Director.
• Mr. Utkarsh Goyal stepped down from his roles as Executive Director and Chief Financial Officer.
• Independent Directors Mr. Manish Heeralal Chandak and Mrs. Sandhya Krishna Karanjavkar also tendered their resignations.

These resignations are attributed to the transfer of shareholding from existing promoters to Mrs. Gitaben Nitinbhai Patel, as per a Share Purchase Agreement dated July 3, 2025.

New Appointments

The board has appointed new leadership to steer the company forward:

• Mrs. Ekta Shyamlal Haryani has been appointed as Managing Director for a five-year term.
• Mr. Nilesh Hasmukhbhai Kothari joins as a Non-Executive Non-Independent Director.
• Three new Independent Directors have been appointed for five-year terms: Mr. Hardikkumar Dhirubhai Jetani, Mr. Harinarayan Ramanand Tripathi, and Mr. Jigar Nemichand Jain.

Changes in Key Managerial Personnel

The company has also seen changes in its key managerial positions:

• Mr. Ankur Vasudevbhai Patel has been appointed as the new Chief Financial Officer.
• Ms. Namrata Sureshkumar Jain takes on the role of Company Secretary and Compliance Officer.

Change in Control and Promoter Reclassification

In a significant development, Mrs. Gitaben Nitinbhai Patel has acquired 1,50,599 equity shares, representing 75.30% of Antariksh Industries' equity share capital. This includes:

Consequently, Mrs. Gitaben Nitinbhai Patel has become the new promoter of Antariksh Industries Limited, while the former promoters, Mr. Bhagwanji Narsi Patel and Mr. Utkarsh Goyal, have been reclassified from 'promoter/promoter group' to 'public' category.

Appointment of Secretarial Auditor

The board has approved the appointment of Shri Rajvirendra Singh Rajpurohit, proprietor of M/s. R S Rajpurohit & Co., as the Secretarial Auditor for the financial year 2025-26.

These sweeping changes in Antariksh Industries Limited's leadership and ownership structure signal a new direction for the company. Shareholders and market watchers will be keen to observe how these developments influence the company's future strategies and performance.

Antariksh Industries has undergone a significant change in its ownership structure following a recent open offer. Gitaben Nitinbhai Patel has successfully acquired a substantial stake in the company, marking a notable development in Antariksh Industries' shareholding pattern.

Key Details of the Acquisition

Transaction Background

The acquisition was executed through an open offer, following a Letter of Offer dated September 19, 2025. This strategic move has resulted in Gitaben Nitinbhai Patel gaining a significant foothold in Antariksh Industries.

Pre and Post-Acquisition Shareholding

Company Overview

Antariksh Industries, has a total equity share capital structure as follows:

This acquisition represents a significant change in the ownership structure of Antariksh Industries, with Gitaben Nitinbhai Patel emerging as a major shareholder. The impact of this change on the company's future direction and performance remains to be seen.