Outcome of Board Meeting 16.03.2026
Price
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Rekvina Laboratories' board approved the acquisition of 100% stake (18,51,100 shares) in Radiant Parenterals Limited, a Vadodara-based pharmaceutical company, at ₹25 per share for a total of ₹4.63 crore. The deal is structured as a share swap — Rekvina will issue 46,27,750 fresh equity shares at ₹10 each (₹5 face value + ₹5 premium) to Radiant's existing shareholders, who include Rekvina's own promoters (Surbhit Shah, Amit Shah, and Dhruvalkumar Patel). Additionally, the board approved a separate cash preferential issue of 4,60,000 shares at ₹10 each (₹46 lakh) to non-promoters Amitkumar Arunkumar Rao and his HUF. The authorised share capital will be raised from ₹3.5 crore to ₹6 crore to accommodate the new shares. Radiant Parenterals, a WHO-GMP certified injectable manufacturer, reported revenue of ₹31.67 crore in FY25 (up from ₹17.36 crore in FY24). The transaction will trigger a mandatory open offer to Rekvina's public shareholders under SEBI takeover regulations. An EGM has been scheduled for April 10, 2026 to seek shareholder approval.
The acquisition will nearly double Rekvina's scale and bring in a profitable pharma business, but existing Rekvina shareholders face significant dilution — the Radiant promoters will collectively hold 57.34% post-issue, effectively gaining control and triggering a mandatory open offer that may pressure the stock price.