BSECompany Update1d ago · 14 Oct 2026, 05:48 pm

Aftertrade Broking Private Limited ("Manager to the Open Offer") has submitted to BSE a copy of Public Announcement under Regulation 3(1) and 4 read with Regulations 13, 14 and 15(1) and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and akeovers) Regulations, 2011, as amended thereof for the attention of the public shareholders of Avishkar Infra Realty Ltd ("Target Company").

Avishkar Infra Realty Ltd · 508929

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Avishkar Infra Realty Ltd has received a public announcement for an open offer by Aftertrade Broking Private Limited on behalf of Nalin Ramaniklal Shah and others to acquire 58,24,853 equity shares representing 26% of the company's total voting share capital at Rs. 23 per share.

Analysis Scores

Earnings Impact2/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk6/10
Balance Sheet Risk2/10
Liquidity Impact4/10
Market Sentiment5/10

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Avishkar Infra Realty Ltd - 508929 - Open Offer - Public Announcement

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8B91B860-25F3-4C0A-8E5B-0E568C0CB0EB-174700.pdf

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To. To. The General Manager The General Manager BSE Limited MSEI Limited Phiroze Jeejeebhoy Towers Vibgyor Towers, 4th Floor, Plot No. C 62, – Block, Opp. Dalal Street, Mumbai – 400001. Trident Hotel, Bandra Kurla Complex, Bandra East, Mumbai - 400 098. SUB: Public Announcement to the Shareholders of Avishkar Infra Realty Limited (“Target Company”) in terms of Regulations 3(1) and 4 of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 Dear Sir /Madam, We, Aftertrade Broking Private Limited (Hereinafter referred to as “Manager to the Open Offer”), are hereby submitting the Public Announcement made by us on the behalf of Nalin Ramaniklal Shah (“Acquirer”), along with Atul Ramaniklal Shah (HUF) (“PAC-1”), Ramaniklal Kunvarji Shah (HUF) (“PAC-2”), Nalin R Shah (HUF) (“PAC-3”), Manchhaben R Shah (“PAC-4”), Meena Nalin Shah (“PAC-5”), Mansi Dhruvin Modi (“PAC-6”), Dhruvi Nalin Shah (“PAC-7”), Himali Atul Shah (“PAC-8”), Khusboo Atul Shah (“PAC-9”) and Nishita Harsh Shah (“PAC-10”), (Collectively referred to as the “Persons acting in concert” or “PAC’s”) to acquire 58,24,853 equity shares representing 26% of Total Voting Share Capital of Target Company at a price of Rs. 23/- for each equity shares of Target Company, pursuant to and in compliance with Regulations 3(1) and 4 of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto. Kindly take the same on your record. Yours Faithfully, For, Aftertrade Broking Private Limited Vanesh Panchal Director DIN:06944544 SEBI Regd Number: INM000013110 Place: Ahmedabad Date: October 14, 2026 Encl: Public Announcement