Hemant Surgical Industries Limited has agreed to acquire a 66.66% equity stake in Lifesenz Cancer Research Labs Private Limited for ₹19,99,80,000 to expand its presence in the healthcare and cancer diagnostic support segment. The acquisition, approved at a board meeting on May 27, 2026, will make Lifesenz a subsidiary of the company upon completion. The deal is structured as a related party transaction, as existing shareholders and directors of the target entity are also promoters, directors, or shareholders of Hemant Surgical Industries.

The transaction involves the purchase of 6,666 equity shares representing 66.66% of the paid-up equity share capital of Lifesenz Cancer Research Labs. The consideration of ₹19,99,80,000 will be paid in cash, and the acquisition is based on a valuation report obtained from a Registered Valuer. The company stated that the transaction is proposed to be undertaken at arm's length. The completion of the acquisition is subject to satisfaction of certain conditions precedent specified in the Share Purchase Agreement.

Lifesenz Cancer Research Labs, incorporated on February 28, 2022, operates in Mumbai, Maharashtra, and is engaged in assisting clinicians and cancer patients by providing predicted therapy solutions. The entity belongs to the healthcare industry, specifically cancer research and diagnostic support services. No governmental or regulatory approvals are required for the acquisition, and the company aims to finalize the deal on or before September 30, 2026.

The financial size of the target entity for F.Y. 24-25 indicates a turnover of ₹56.75 Lakhs, a Profit After Tax (PAT) of ₹(74.76) Lakhs, and a net worth of ₹(221.84) Lakhs. The acquisition is intended to strengthen Hemant Surgical Industries' capabilities in the cancer diagnostic support market. The board meeting commenced at 03.40 p.m. and concluded at 04.30 p.m. on May 27, 2026.

Hemant Surgical Industries has allotted 6,49,600 shares to Singularity Equity Fund 1, associated with Madhusudan Kela, following the conversion of warrants. The allotment represents a 5% stake in the company, and upon completion of this transaction, Singularity Equity Fund 1's cumulative shareholding in Hemant Surgical Industries has increased to 6.9%.

Warrant Conversion and Share Allotment Details

The allotment was executed through the conversion of warrants held by Singularity Equity Fund 1. The key details of the transaction are summarised below:

Shareholding Impact

Following the allotment of 6,49,600 shares equivalent to a 5% stake, Singularity Equity Fund 1's total holding in Hemant Surgical Industries now stands at 6.9%. This transaction reflects the exercise of warrants previously issued to the fund, resulting in a meaningful increase in its ownership position within the company.