Announced Sat, 11 Jul · 14:53 IST

Arvaya Healthcare acquires SIGPL via share swap, plans Rs 210 crore rights issue

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AI summary

Arvaya Healthcare board approved acquiring 100% of Sushodha Institute of Gastroenterology (SIGPL) for Rs 15.48 crores via share swap, issuing 38.71 lakh shares at Rs 40 each (Rs 10 face value plus Rs 30 premium) to SIGPL shareholders. Also approved a Rights Issue of up to Rs 210 crores to eligible shareholders. Registered office to shift from Assam to Maharashtra. The acquisition is a related party transaction, done at arm's length basis per Registered Valuer's report. Subject to shareholder approval via postal ballot.

Likely market impact

Share swap will dilute existing holders via 38.71 lakh new shares at Rs 40. Follow-on Rights Issue up to Rs 210 crores may cause further dilution if not fully subscribed.