Acquirers Launch Open Offer for Rekvina Laboratories, Targeting 26% Stake at ₹10 per Share

Acquirers Launch Open Offer for Rekvina Laboratories, Targeting 26% Stake at ₹10 per Share​

Rekvina Laboratories Limited announced a mandatory Open Offer initiated by Surbhit Mukesh Shah (Acquirer-1), Amit Mukesh Shah (Acquirer-2), and Dhruvalkumar Patel (Acquirer-3) to acquire equity shares from the public shareholders. The offer aims to secure a substantial stake in the company, set against the backdrop of an underlying transaction involving Radiant Parenterals Limited.

The Open Offer is being made by the Acquirers to acquire up to 28,90,100 fully paid-up equity shares of Rekvina Laboratories at a fixed price of ₹ 10 per Equity Share, payable in cash. If accepted in full, the maximum consideration required for this acquisition is ₹ 2,89,01,000 (Rupees Two Crore Eighty Nine Lakhs One Thousand Only).

The mandatory Open Offer was triggered following the execution of a Securities Exchange and Purchase Agreement (SEPA) dated March 16, 2026. This SEPA involves the sale of 18,51,100 Sale Shares of Radiant Parenterals Limited to Rekvina Laboratories for ₹ 4,62,77,500 through a preferential issue in exchange for Subscription Shares of the Target Company.

Offer and Corporate Structure Details​

The Open Offer provides Public Shareholders an opportunity to participate in acquiring shares representing 26% of the Expanded Share Capital of Rekvina Laboratories Ltd. The offer is not conditional upon any minimum level of acceptance.

Key details regarding the open offer are summarized below:

Background and Objectives​

The primary objective of the Acquirers in undertaking this transaction is to acquire substantial shares, voting rights, and control over the Target Company. The acquisition comes after the Board of Directors of Rekvina Laboratories approved the SEPA on March 16, 2026.

Through the underlying SEPA, the Acquirers are acquiring shares of Radiant Parenterals Limited. Upon completion of the transaction, the target company plans to make Radiant a Wholly owned Subsidiary.

The pre-Offer shareholding details show that Surbhit Mukesh Shah (Acquirer-1) holds 9,17,607 Equity Shares representing 15.22% of the Equity Share Capital, and Amit Mukesh Shah (Acquirer-2) holds 8,27,883 Equity Shares representing 13.73%. Dhruvalkumar Patel (Acquirer-3) has a stake in Radiant which is being offered for consideration shares in Rekvina Laboratories.

The total shareholding calculation indicates that the combined holding of Acquirers and the Promoter/Promoter Group would reach 90.03% of the Expanded Share Capital following the Open Offer, making this acquisition relevant to compliance under SEBI (SAST) Regulations.

The offer is structured for cash payment from the public shareholders, with the shares being acquired subject to all rights attached thereto, including dividends and bonuses.

Stock Price Movement​

At the close of trade on Friday, Rekvina Laboratories Ltd saw its shares settle at ₹37.45, ticking up 1.99%. The stock experienced movement between an intraday low of ₹35.99 and a high reaching ₹37.45.