Invicta Diagnostic Limited Approves Agreement for Acquisition of Vinchurkar Diagnostics Private Limited
Invicta Diagnostic Limited announced that its Board of Directors, at a meeting held on April 11, 2026, approved the draft Share Purchase Agreement (SPA) and Shareholders' Agreement (SHA) for the proposed acquisition of Vinchurkar Diagnostics Private Limited. The agreement incorporates certain modifications to the terms and conditions of the transaction.The Company confirmed that it will execute the Share Purchase Agreement and Shareholders' Agreement on April 11, 2026. The revised terms approved by the Board are stated to be broadly in line with earlier disclosures made during the Board Meetings held on January 5, 2026, and March 25, 2026, with changes that do not materially alter the overall structure of the transaction.
Details of Acquisition
Vinchurkar Diagnostics Private Limited is a diagnostic company located in Nashik, India, established in 1993. The firm has a history of offering various CT, MRI, and Diagnostic tests and is noted for its 24/7 service. It holds the distinction of being the first diagnostic center to start a private CT & Mammography center in Nashik in June 1995, and establishing MRI in 1999 and Superconducting MRI in 2004.The acquisition is expected to expand the business activities of Invicta Diagnostic Limited in Nashik city, as the company is already engaged in the business of Diagnostic Services (Healthcare Service in radiology and pathology solutions).
Transaction and Financial Details
The acquisition involves the proposed purchase of up to 95% shareholding in Vinchurkar Diagnostics Private Limited across two tranches. The total consideration for the acquisition is set at a proposed cash consideration of Rs. 760 Lakhs.The share acquisition is structured as follows:
1. First Tranche: 51% shareholding up to May 31, 2026.
2. Second Tranche: A maximum of 44% shareholding up to October 31, 2026, from the date of execution.
The cost associated with acquiring the shares is the proposed cash consideration of Rs. 760 Lakhs. The nature of the consideration is cash.
The indicative timeline for the completion of the acquisition is stated as up to 9 Months.
The financial turnover details for Vinchurkar Diagnostics Private Limited highlight its performance over recent fiscal years:
| Year | Turnover (Rs. in lakhs) |
|---|---|
| 2024-25 | 445.44 |
| 2023-24 | 444.53 |
| 2022-23 | 410.90 |
The acquisition does not fall within related party transactions, and no interest from the promoter or promoter group is noted in the acquired entity.
Invicta Diagnostic Limited’s operational presence includes centers in Thane (PET-CT, MRI, CT), Marol (MRI, CT), Wadala (PET-CT, CT), Sewri, and Kalwa, alongside other facilities in Bhiwandi (MRI, CT), Byculla (MRI, CT), and Lower Parel.
INVICTA Stock Price Movement
On Friday, Invicta Diagnostic Limited shares rallied to close at ₹75, posting a 2.74% gain for the session. The stock concluded its trading day having seen a total volume of 8,000 shares traded.Source:
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