ACI Infocom Limited (BSE: 517356) looks to embark on a aviation-focused transformation of its business, alongside an open offer triggered pursuant to the proposed acquisition of control and preferential allotment of equity shares.
The proposed acquirers, Mr. Sanjay Natvarlal Mandavia and Ms. Rupal Sanjay Mandavia, have made an open offer to acquire up to 3,70,47,634 equity shares, representing 26% of the emerging voting share capital of ACI Infocom Limited, at a price of ₹1.53 per equity share, in accordance with the applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The proposed transaction represents a significant development for the Company, with the proposed new promoters envisaging an expansion of its business into aviation and allied sectors, subject to shareholder approvals, regulatory permissions and other applicable requirements.
As part of the proposed transformation, the Company has sought shareholder approval to comprehensively alter its objects clause, enabling it to pursue opportunities across aviation and airline services, including scheduled and non-scheduled air transport for passengers, cargo, freight, logistics and allied services.
The proposed business scope also extends to aircraft and aviation infrastructure, including airports, aerodromes, heliports, hangars, maintenance, repair and overhaul facilities, cargo terminals and aviation parks.
Beyond conventional aviation, the proposed objects provide for participation in emerging and technology-driven segments such as drones, unmanned aerial vehicles, remotely piloted aircraft systems, electric vertical take-off and landing aircraft, air taxis and advanced air mobility solutions.
The Company also proposes to explore opportunities across aviation training and skill development, aircraft maintenance, aviation technology, simulators, fleet and aircraft management, aerospace engineering, research and development, and allied support services.
In addition, the proposed objects allow the Company to undertake research, design, development, manufacturing, assembly, integration, maintenance and commercialization of aviation and aerospace products and technologies, subject to applicable laws, licences and regulatory approvals.
To support the proposed transition, shareholders are also being asked to consider a preferential issue of up to 3.20 crore equity shares to the proposed promoter group, aggregating up to ₹4.90 crore, as well as the issuance of up to 29.48 crore fully convertible warrants, aggregating up to ₹45.10 crore, subject to the requisite approvals and terms of the proposed issue.
The proposed open offer and preferential allotment are expected to result in the proposed acquirers assuming control and management of the Company upon completion of the applicable open offer formalities and other regulatory processes.
With the proposed expansion of its business mandate, ACI Infocom is positioning itself to pursue opportunities across the broader aviation ecosystem—from air transport and aviation infrastructure to advanced air mobility, aerospace technologies and aviation services.
The proposed strategic direction reflects an intent to build a platform capable of participating in multiple segments of the evolving aviation and aerospace value chain, subject to the completion of the proposed transaction, shareholder approvals and all necessary regulatory clearances.
ACI Infocom Limited is a BSE-listed company. The Company has proposed a comprehensive expansion of its objects to include aviation, airline services, aviation infrastructure, aerospace technologies, advanced air mobility, aviation training, maintenance and allied services, subject to the requisite shareholder and regulatory approvals.