Ms. Vijaya Mani Sells Stake in Colinz Laboratories Ltd; Acquirers Secure Significant Equity Holding
Colinz Laboratories Ltd has confirmed a substantial share sale of its equity shares through a Share Purchase Agreement (SPA). The transaction involves the promoter, Ms. Vijaya Mani, selling a significant portion of her holdings to three individuals who will collectively become promoters and acquire control rights over the company upon completion of the deal.The SPA, executed on June 18, 2026, involved Ms. Vijaya Mani (the Seller) and Annjana Dugar, Likhitta Dugar, and Antraiksh Dugar (collectively referred to as The Acquirers).
According to the agreement details, Ms. Vijaya Mani is transferring an aggregate of 8,70,500 fully paid up equity shares of Colinz Laboratories Ltd. These shares carry a face value of Rs. 10/- each and were acquired at a price of Rs. 50/- per share. The sale represents 34.56% of the existing voting share capital of the company.
The acquisition is designed to grant control and management rights to The Acquirers.
Key Details of the Share Purchase Agreement
The following table outlines the material aspects of the transaction:| Detail | Particulars |
|---|---|
| Company | Colinz Laboratories Ltd |
| Seller | Ms. Vijaya Mani (Promoter) |
| Acquirers | Annjana Dugar, Likhitta Dugar, Antraiksh Dugar |
| Shares Sold | 8,70,500 shares |
| Stake Acquired | 34.56% of existing voting share capital |
| Sale Price | Rs. 50/- per equity share (Face Value: Rs. 10/-) |
The transaction stipulates that upon the sale and transfer of the Sale Shares on the Closing Date, Ms. Vijaya Mani shall irrevocably cease to be in control of the Target Company, which will vest into The Acquirers.
Post-Closing Commitments and Control Transition
As per the agreement terms, the Acquirers are set to become promoters or part of the promoter group of Colinz Laboratories Ltd upon closing. They will then exercise joint control over the management and affairs of the Target Company alongside other members of the Promoter Group who were not parties to the SPA.The SPA includes strict covenants regarding the Seller's post-transaction status:
- Cessation of Control: Ms. Vijaya Mani must cease to exercise any direct or indirect control over Colinz Laboratories Ltd.
- Board and Role Restrictions: She is prohibited from having any special rights in the company, holding a representation on the Board of Directors, or acting as a key managerial personnel, except as permitted by law.
- Resignation: Following the transfer of the Sale Shares to The Acquirers, Ms. Vijaya Mani shall tender her resignations from the Board and all other positions held in the Target Company with effect from the Closing Date.
Additionally, the Seller has undertaken commitments that restrict certain corporate actions during the agreement period, including not allowing the company to sell or dispose of the Sale Shares, create any encumbrance on them, or undertake specific business alterations such as altering share capital, issuing debentures, or declaring dividends.
Stock Price Movement
Colinz Laboratories Ltd shares settled at ₹59.22 at the close of trade today, edging higher by 1.67%. The stock moved throughout the session within an intraday range of ₹55.35 to ₹60.90.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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