Rekvina Laboratories Discloses Open Offer Public Announcement to BSE
Rekvina Laboratories Limited has formally disclosed to BSE Limited the receipt of a public announcement for an open offer by three acquirers - Surbhit Mukesh Shah, Amit Mukesh Shah, and Dhruvalkumar Patel. The offer seeks to acquire 28,90,100 equity shares at ₹10 per share, representing 26% of expanded share capital with total consideration of ₹2,89,01,000. The transaction was triggered by a share exchange agreement for acquiring Radiant Parenterals Limited, managed by Vivro Financial Services under SEBI regulations.
*this image is generated using AI for illustrative purposes only.
Rekvina Laboratories Limited has formally disclosed to BSE Limited the receipt of a public announcement for an open offer by three acquirers, as mandated under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure, dated March 17, 2026, confirms the company's compliance with regulatory requirements following the public announcement issued by Vivro Financial Services Private Limited.
Open Offer Structure and Financial Details
The open offer involves three acquirers seeking to purchase equity shares from public shareholders of Rekvina Laboratories Limited. Vivro Financial Services Private Limited has been appointed as Manager to the Open Offer, with the transaction structured as a mandatory offer under SEBI (SAST) Regulations.
| Parameter: | Details |
|---|---|
| Offer Size: | 28,90,100 equity shares |
| Face Value: | ₹5 per share |
| Offer Price: | ₹10 per share |
| Total Consideration: | ₹2,89,01,000 (assuming full acceptance) |
| Percentage of Expanded Share Capital: | 26% |
| Payment Mode: | Cash |
The offer price of ₹10 per share has been determined in accordance with Regulation 8(1) and 8(2) of the SEBI (SAST) Regulations. The transaction represents a triggered offer, making it mandatory under Regulations 3(2) and 4 of the SEBI (SAST) Regulations.
Acquirer Details and Shareholding Structure
The acquisition involves three individuals with varying current stakes in Rekvina Laboratories. The acquirers' pre-transaction and proposed post-transaction shareholdings demonstrate significant changes in the company's control structure.
| Acquirer: | Pre-Transaction Shares | Pre-Transaction % | Post-Transaction Shares (No Tender) | Post-Transaction % (No Tender) |
|---|---|---|---|---|
| Surbhit Mukesh Shah: | 9,17,607 | 15.22% | 24,73,857 | 22.26% |
| Amit Mukesh Shah: | 8,27,883 | 13.73% | 30,09,133 | 27.07% |
| Dhruvalkumar Patel: | Nil | Nil | 2,22,562 | 2.00% |
| Total: | 17,45,490 | 28.96% | 57,05,552 | 51.33% |
Surbhit Mukesh Shah serves as Promoter and Managing Director of Rekvina Laboratories, while Amit Mukesh Shah holds the position of Promoter and Director. Dhruvalkumar Patel currently has no existing interest in the target company.
Underlying Transaction Details
The open offer was triggered by a Share Exchange and Purchase Agreement dated March 16, 2026. This agreement involves the acquisition of Radiant Parenterals Limited through a comprehensive share swap arrangement.
| Transaction Component: | Details |
|---|---|
| Target Acquisition: | 18,51,100 equity shares of Radiant Parenterals |
| Acquisition Value: | ₹4,62,77,500 |
| Price per Share: | ₹25 |
| Consideration Method: | Share swap arrangement |
| Subscription Shares to be Issued: | 46,27,750 equity shares |
| Issue Price: | ₹10 per share |
The board of directors of Rekvina Laboratories resolved on March 16, 2025, to issue 46,27,750 subscription shares of face value ₹5 each at ₹10 per share through preferential issue on a private placement basis.
Regulatory Compliance and Company Information
Rekvina Laboratories Limited, through Company Secretary & Compliance Officer Deepak Khandelwal, has ensured proper disclosure to BSE Limited and dissemination to shareholders. The company maintains its listing status on BSE Limited with established market presence.
| Company Details: | Information |
|---|---|
| Registered Office: | 36, Sampatrao Colony, Next to Royal Hotel, Alkapuri, Vadodara, Gujarat, 390007 |
| CIN: | L24231GJ1988PLC011458 |
| BSE Scrip Code: | 526075 |
| BSE Scrip ID: | VINRKLB |
| ISIN: | INE092O01028 |
Vivro Financial Services, registered with SEBI under registration number MB/INM000010122, will manage the open offer process in compliance with applicable regulations. The acquirers have undertaken to maintain adequate financial resources and have made firm financial arrangements for financing the acquisition. The detailed public statement will be published within 5 working days from the public announcement, containing comprehensive information about the offer including reasons, background, statutory approvals required, and financial arrangements.
17
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
