Rekvina Labs open offer at ₹10 per share opens July 1
The open offer by acquirers Surbhit Mukesh Shah, Amit Mukesh Shah, and Dhruvalkumar Patel to acquire up to 28,90,100 equity shares of Rekvina Laboratories Limited opens on July 1, 2026, at ₹10 per share. The offer, representing 26% of the expanded share capital, closes on July 14, 2026, with Vivro Financial Services Private Limited as the Manager to the Offer. The Committee of Independent Directors deemed the price fair despite the market price being ₹37.45, while SEBI observations and material changes, including the addition of Dhruvalkumar Patel and disclosures on contingent liabilities and FIRs, have been incorporated.
*this image is generated using AI for illustrative purposes only.
The open offer by acquirers Surbhit Mukesh Shah, Amit Mukesh Shah, and Dhruvalkumar Patel to acquire up to 28,90,100 equity shares, representing 26% of the expanded share capital of Rekvina Laboratories Limited , opens on July 1, 2026. The offer price is fixed at ₹10 per equity share, payable in cash, with a maximum consideration of ₹2.89 crore. Vivro Financial Services Private Limited has been appointed as the Manager to the Offer. The tendering period closes on July 14, 2026.
The Committee of Independent Directors approved the recommendation on June 24, 2026, stating the offer price is fair and reasonable in terms of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. However, the committee noted that the closing market price on BSE Limited as on June 23, 2026, was ₹37.45 per equity share, significantly higher than the offer price. Public shareholders have been advised to independently evaluate the open offer.
The offer is made pursuant to Regulations 3(2) and 4 of the SEBI (SAST) Regulations and is not conditional upon any minimum level of acceptance. The acquisition is aimed at expanding the company's presence by integrating operations with Radiant Parenterals Limited. The Board of Directors approved the execution of the Securities Exchange and Purchase Agreement (SEPA) on March 16, 2026, for the acquisition of 18,51,100 equity shares of Radiant Parenterals Limited at ₹25 per share, aggregating to ₹4.62 crore.
SEBI issued its observations on the Draft Letter of Offer on June 12, 2026, and the comments have been incorporated into the Letter of Offer dated June 20, 2026. Material changes include the addition of Dhruvalkumar Patel as an acquirer and disclosures regarding contingent liabilities. The document confirms that as on March 31, 2026, there are no contingent liabilities of the target company. Additionally, two FIRs have been registered against Acquirer 1 and Acquirer 2, which the acquirers state are unrelated to the open offer and do not affect their ability to complete it.
Offer Details
| Parameter | Details |
|---|---|
| Target Company | Rekvina Laboratories Limited |
| Acquirers | Surbhit Mukesh Shah, Amit Mukesh Shah, Dhruvalkumar Patel |
| Offer Price | ₹10 per Equity Share |
| Offer Size | 28,90,100 Equity Shares (26% of Expanded Share Capital) |
| Maximum Consideration | ₹2,89,01,000 |
| Tendering Period | July 1, 2026 to July 14, 2026 |
| Manager to the Offer | Vivro Financial Services Private Limited |
Historical Stock Returns for Rekvina Laboratories
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -6.56% | -22.49% | +384.46% | +384.46% | +852.78% |
How will the significant discount between the offer price (₹10) and the current market price (₹37.45) impact shareholder participation rates in the tender offer?
What specific operational synergies does Rekvina Laboratories expect to achieve by integrating with Radiant Parenterals Limited?
Will the ongoing FIRs against the primary acquirers trigger any regulatory scrutiny or delays from SEBI despite the current observations?
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