Announced Sat, 11 Jul · 14:56 IST

Arvaya Healthcare to acquire 100% in SIGPL via share swap, plans Rights Issue

Listed Co AcquisitionStrategic Transactions View source PDF

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AI summary

Board approved acquiring 100% of Sushodha Institute of Gastroenterology (SIGPL) for about Rs 15.49 crore via share swap, not cash. SIGPL shareholders will receive 38.71 lakh Arvaya equity shares at Rs 40 each. SIGPL runs a super-specialty gastroenterology hospital in Shivamogga with FY26 turnover of Rs 8.99 crore (up from Rs 6.36 crore in FY24). The deal is a related party transaction but done at arm's length as per valuation report. Subject to shareholder approval, expected to close within 12 months. Board also approved a Rights Issue of up to Rs 210 crore and shifting the registered office from Assam to Maharashtra.

Likely market impact

Share swap will dilute existing Arvaya shareholders. Deal expands hospital and diagnostics footprint. Rights Issue of up to Rs 210 crore may cause further dilution. Postal ballot starts July 15.