Acquirers Launch Open Offer for Rekvina Laboratories Ltd aiming to acquire 26% stake at ₹10 per share

Acquirers Launch Open Offer for Rekvina Laboratories Ltd aiming to acquire 26% stake at ₹10 per share​

A collective of three individuals, Surbhit Mukesh Shah, Amit Mukesh Shah, and Dhruvalkumar Patel, have launched an open offer for the acquisition of equity shares in Rekvina Laboratories Limited. The Acquirers are seeking up to 28,90,100 fully paid-up equity shares, representing 26% of the Expanded Share Capital, at a price of ₹10 per Equity Share, payable in cash.

The Open Offer is set to commence on Wednesday, July 1, 2026, and will close on Tuesday, July 14, 2026. The maximum consideration for acquiring all offered shares is capped at ₹2,89,01,000.

Transaction Details and Acquirer Intentions​

The open offer comes following a Securities Exchange and Purchase Agreement (SEPA) dated March 16, 2026. Under the SEPA, the sellers—including Surbhit Mukesh Shah, Amit Mukesh Shah, Ami Amit Shah, Krima Surbhit Shah, and Dhruvalkumar Patel—are transferring their sale shares to Rekvina Laboratories Limited for a total consideration of ₹4,62,77,500 through a preferential issue.

The Acquirers aim to consolidate control over the Target Company. The proposed shareholding of Acquirers, after the acquisition of Subscription Shares under the Underlying Transaction, is expected to stand at 57,05,552 Equity Shares, representing 51.33% of the Expanded Share Capital. Including the members of the Promoter and Promoter Group, the combined holding is projected at 71,17,233 Equity Shares (64.03%). Post Open Offer, if fully accepted, the total shareholding of Acquirers would be 85,95,652 Equity Shares (77.33% of Expanded Share Capital).

The Acquirers are Surbhit Mukesh Shah, Amit Mukesh Shah, and Dhruvalkumar Patel.

• Surbhit Mukesh Shah holds 9,17,607 Equity Shares, representing 15.22%, and serves as an Executive Director and Chief Financial Officer of the Target Company.
• Amit Mukesh Shah holds 8,27,883 Equity Shares (13.73%) and is a Managing Director of the Target Company.
• Dhruvalkumar Patel holds 2,22,562 shares of the Target Company as allotted through the SEPA to him from Radiant Parenterals Limited, representing 2.00%.

Target Company Overview and Financial Status​

Rekvina Laboratories Limited is engaged in the business of trading and marketing pharmaceuticals products. The company was incorporated on November 1, 1988. As of the date of the LOF, the fully paid-up Equity Share Capital stands at 60,28,000 shares, representing 100.00% of the paid-up capital.

The financial status of Rekvina Laboratories Limited as of March 31, 2026 is provided in the table below:


The company's board composition includes both Acquirer-1 and Acquirer-2, along with Independent Directors appointed in 2024 and 2026.

Offer Price Justification​

The offer price of ₹10 per Equity Share was justified as the highest among several parameters required by SEBI (SAST) Regulations. This valuation was confirmed via a Valuation Report dated March 16, 2026, issued by CS Devang Thakar, Registered Valuer (SFA). The maximum consideration reflects the current market conditions and is supported by financial arrangements, including an escrow deposit of ₹72,25,250 made in March 2026.

Tendering Period Schedule​

The critical dates for shareholders interested in participating in the offer are:

Stock Price Movement​

Rekvina Laboratories Ltd settled at ₹37.45 on Friday, rising 1.99%. The shares moved during the trading session between a low of ₹35.99 and a high of ₹37.45.