Vivro Financial Services Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Equity Shareholders of Rekvina Laboratories ....
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Three acquirers (Surbhit Mukesh Shah, Amit Mukesh Shah, and Dhruvalkumar Patel) have submitted a Draft Letter of Offer to acquire up to 28,90,100 equity shares representing 26% of Rekvina Laboratories' expanded share capital. The offer price is ₹10 per share, payable in cash, with maximum consideration of ₹2.89 crore. This mandatory open offer is triggered under SEBI SAST Regulations because the acquirers (who are existing promoters) are acquiring Radiant Parenterals Limited through a share swap, which will increase their holding beyond 25%. The underlying transaction involves Rekvina acquiring 100% of Radiant Parenterals by issuing 46,27,750 new shares at ₹10 each in a 2.5:1 swap ratio. Post-offer, acquirers will hold 77.33% of the company. The tendering period runs from May 14 to May 27, 2026.
This open offer gives public shareholders an opportunity to exit at ₹10 per share. Following the transaction, control will consolidate among the existing promoter group with approximately 77-90% ownership, significantly reducing public float.