The Company has approved Preferential Issue of Share through; 1. Swap of Shares 2. Cash Consideration as per attached details.
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The board of Rekvina Laboratories approved acquiring 100% of Radiant Parenterals Ltd, a WHO-GMP certified pharma company in Vadodara making injectables and anti-diabetic/anti-hypertensive products, for a total consideration of ₹4.63 crore at ₹25 per share. The acquisition will be paid entirely through a share swap by issuing 46,27,750 new Rekvina equity shares at ₹10 per share (face value ₹5, premium ₹5) to Radiant's existing shareholders. Separately, the company will issue 4,60,000 additional equity shares at ₹10 each to two non-promoter allottees (Amitkumar Arunkumar Rao and his HUF) for cash, raising ₹46 lakh. The board also approved increasing the authorised share capital from ₹3.5 crore to ₹6 crore to accommodate the new shares, and an EGM has been scheduled for April 10, 2026 to seek shareholder approval.
Existing Rekvina shareholders will face significant dilution, as the Radiant shareholders will collectively hold about 57.34% of the expanded share capital post-issue, and the incoming promoter group (Surbhit and Amit Shah) will move from 28.96% to roughly 49.33%. The transaction also triggers a mandatory open offer to public shareholders under SEBI Takeover Regulations, which could add near-term selling pressure on the stock. While the acquisition brings in a revenue-generating pharma business (Radiant reported ₹31.7 crore revenue in FY25), the size of the swap relative to Rekvina's own base means the deal effectively results in a change of control rather than a typical acquisition.