Update on Open Offer
Price
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Rekvina Laboratories has announced a Detailed Public Statement for an Open Offer to acquire up to 28,90,100 equity shares (26% of expanded share capital) from public shareholders at ₹10 per share, totaling ₹2.89 crore assuming full acceptance. The offer is mandatory and triggered by a Share Exchange and Purchase Agreement (SEPA) signed on March 16, 2026, under which Rekvina will acquire 100% of Radiant Parenterals Limited through a share swap at a 2.5:1 ratio (2.5 Rekvina shares for every 1 Radiant share), valued at ₹4.63 crore. The three acquirers are existing promoters Surbhit Mukesh Shah and Amit Mukesh Shah, along with Dhruvalkumar Patel (who will be reclassified as a joint promoter). Post-offer, the acquirers plus promoter group will hold 90.03% of expanded share capital. The company's shares are classified as 'infrequently traded' on BSE, and the acquirers have deposited ₹72.25 lakh (25% of offer size) in an escrow account.
Public shareholders can tender their shares at ₹10 per share, though the company has reported declining revenues and net losses in recent periods. Post-offer, public shareholding may fall below the mandatory 25% minimum threshold, which the acquirers have committed to address. The price may be revised upward if the acquirers buy shares at a higher price during the offer period.