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Rekvina Laboratories Ltd (BSE: 526975) has disclosed a mandatory Open Offer to its public shareholders, triggered under SEBI Takeover Regulations. Three acquirers — Surbhit Mukesh Shah, Amit Mukesh Shah, and Dhruvalkumar Patel — are offering to buy up to 28,90,100 equity shares (26% of the expanded share capital) at ₹10 per share, taking the total deal value to about ₹2.89 crore (assuming full acceptance). The offer was triggered by a Share Exchange and Purchase Agreement (SEPA) dated March 16, 2026, under which the promoters and proposed allottees are acquiring 100% of Radiant Parenterals Limited from its existing shareholders via a share swap, along with a preferential issue of 46,27,750 subscription shares in Rekvina. Acquirers 1 and 2 are existing promoters of Rekvina, while Acquirer 3 (Dhruvalkumar Patel) will join as a new promoter gaining joint control. Vivro Financial Services is managing the offer, and a detailed public statement will follow within 5 working days. The acquirers have stated they intend to retain the company's BSE listing.
Public shareholders of Rekvina Laboratories can tender their shares in the open offer at ₹10 per share if they wish to exit. The offer price is fixed and not subject to a minimum acceptance level, but shareholders should compare it with the prevailing market price before deciding. Post-deal, the promoter group's stake will rise significantly (combined to about 77% on a diluted basis), reducing public float and free trading liquidity in the stock.