Antrix Corporation Limited is the commercial arm of the Indian Space Research Organisation (ISRO).
Its objective is to promote the ISRO's products, services and technologies. It was incorporated as a private limited company owned by the Indian government on 28 September 1992. The company is a Public Sector Undertaking (PSU), wholly owned by the Government of India. It is administered by the Department of Space (DoS).
On 29 January 2014, Antrix Corporation Limited (Antrix), the commercial arm of Indian Space Research Organization (ISRO), signed Launch Services Agreement with DMC International Imaging (DMCii), the wholly owned subsidiary of Surrey Satellite Technology Limited (SSTL), United Kingdom (UK), for launch of three DMC-3 Earth Observation Satellites being built by SSTL, on-board ISRO’s Polar Satellite Launch Vehicle (PSLV). On 5 February 2014, Antrix signed another Launch Services Agreement with ST Electronics (Satcom & Sensor Systems) Pte Ltd, Singapore, for launch of TeLEOS-1 Earth Observation Satellite, on-board PSLV. These launches are planned during end 2014 to end 2015. On 29 September 2014, Canada announced that it has decided to give the contract of the July 2015 launch of its M3M (Maritime Monitoring and Messaging Micro-Satellite) communications satellite to Antrix during the inauguration of the International Astronautical Congress at Toronto.During the year, eight PSLV launch services agreements were signed for launching 16 international customer satellites as co-passengers. These are with Skybos Imaging Inc, USA; DLR, Germany; COMDEV, Canada, University of Toronto, Institute of Aerospace Studies, Canada, COSMOS International Germany; Space Fight Inc., USA and Algerian Space Agency.
With these the company had signed agreements for launching 33 satellites.
As of January 2018[update] ISRO has launched 209 foreign satellites for 23 different countries. All satellites were launched using the ISRO's Polar Satellite Launch Vehicle (PSLV) expendable launch system. Between 2013 and 2015, India launched 28 foreign satellites for 13 different countries earning a total revenue of US$101 million.
In January 2005, Antrix Corporation signed an agreement with Devas Multimedia (a private company formed by former ISRO employees and Venture Capitalists from USA) for lease of S band transponders on two ISRO satellites (GSAT 6 and GSAT 6A) for a price of ₹14 billion (US$210 million), a huge amount lower than market price, to be paid over a period of 12 years. ISRO committed to spending ₹7.66 billion (US$120 million) of public money on building, launching and operating two satellites which were leased out for Devas. Devas shares were sold at a premium of ₹1,226,000 (US$19,000), taking the accumulated share premium to ₹5.78 billion (US$89 million), thus getting a high profit. In July 2008, Devas offloaded 17% of its stake to German company Deutsche Telekom for US$75 million, and by 2010 had 17 investors, including former ISRO scientists.
In late 2009, some ISRO insiders exposed information about the Devas-Antrix deal, and the ensuing investigations resulted in the deal being annulled. G. Madhavan Nair (ISRO Chairperson when the agreement was signed) was barred from holding any post under the Department of Space. Some former scientists were found guilty of "acts of commission" or "acts of omission". Devas and Deutsche Telekom demanded US$2 billion and US$1 billion, respectively, in damages. Government of India's Department of Revenue and Ministry of Corporate Affairs initiated an inquiry into Devas shareholding. The CBI concluded investigations into the Antrix-Devas scam and registered a case against the accused in the Antrix-Devas deal under Section 120-B, besides Section 420 of IPC and Section 13(2) read with 13(1)(d) of PC Act, 1988 on 18 March 2015 against the then Executive Director, Antrix Corporation Limited, Bengaluru; two officials of USA-based company; Bengaluru based private multi media company and other unknown officials of Antrix Corporation Limited /ISRO/Department of Space.