BSECompany Update23 Jun 2026 · 23 Jun 2026, 02:26 pm
We wish to inform you that the company has received a copy of the letter of offer issued by Vivro Financial Services Private Limited in relation to open offer to the Public Shareholders.
Rekvina Laboratories Ltd · 526075
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Rekvina Laboratories Ltd announced receiving a Letter of Offer for an open offer to acquire up to 26% (2,890,100 shares) of its expanded share capital from public shareholders. The offer is made by Surbhit Mukesh Shah (a director), Amit Mukesh Shah, and Dhruvalkumar Patel at ₹10 per share. This open offer is in compliance with SEBI (SAST) Regulations, providing an exit opportunity for public shareholders and potentially leading to a consolidation of ownership or change in control.
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Earnings Impact5/10
Growth Catalyst6/10
Governance Concern2/10
Regulatory Risk2/10
Balance Sheet Risk5/10
Liquidity Impact8/10
Market Sentiment7/10
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Full Announcement
Rekvina Laboratories Ltd - 526075 - Announcement under Regulation 30 (LODR)-Open Offer - Updates
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June 23, 2026
BSE Limited
Phiroze Jejeebhoy Towers,
Dalal Street,
Mumbai – 400 001
Sub: Disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
Ref: Letter of Offer for the proposed Open Offer for the acquisition of Equity Shares from the Public
Shareholders of Rekvina Laboratories Limited (“Target Company”) by Surbhit Mukesh Shah
(“Acquirer-1”), Amit Mukesh Shah (“Acquirer-2”) and Dhruvalkumar Patel (“Acquirer-3”)
(collectively referred as “Acquirers”) pursuant to and in compliance with the SEBI (SAST)
Regulations (the “Open Offer” or “Offer”).
Dear Sir/Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,
we wish to inform you that the Company has received a copy of the Letter of Offer issued by Vivro Financial
Services Private Limited in relation to an Open Offer to the Public Shareholders of the Company issued by
Surbhit Mukesh Shah (“Acquirer-1”), Amit Mukesh Shah (“Acquirer-2”) and Dhruvalkumar Patel (“Acquirer-
3”) for acquiring the equity shares of the Company as per the requirements of the Securities and Exchange
Board of India (Substantial Acquisition of Shares and Takeovers) Regulation 2011.
A copy of the Letter of Offer received by the Company is enclosed herewith.
Kindly take the same in your records and disseminate it to the shareholders.
Thanking You,
Yours Faithfully,
For, Rekvina Laboratories Limited
Surbhit Mukesh Shah
Director
DIN: 01993300
Encl: As above
CIN: L24231GJ1988PLC01145
Regd. Office: 36, Sampatrao Colony, Next to Royal Hotel, Alkapuri, Baroda -39007
Email Id: info@rekvinalaboratories.com, rekvinalimited@gmail.com
Cont. No.: 0265-2362966
LETTER OF OFFER
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
This Letter of Offer (“LOF”) (as defined below) will be sent to you as a Public Shareholder (as defined below) of Rekvina Laboratories Limited (hereinafter, referred to as
“Target Company” or “Company”). If you require any clarifications about the action to be taken, you may consult your stockbroker or investment consultant or Manager to the
Offer (as defined below) or Registrar to the Offer (as defined below). In case you have recently sold your Equity Shares (as defined below) of the Company, please hand over this
LOF and the accompanying Form of Acceptance (as defined below) and transfer deed to the member of Stock Exchange (as defined below) through whom the said sale was
effected.
OPEN OFFER (“Open Offer”/ “Offer”) BY
Surbhit Mukesh Shah (“Acquirer-1”)
residing at 3/B, Kunj Co. Op. Society, Alkapuri, Vadodara – 390020, Gujarat, India.
Contact No.: (+91) 265-2362966 / 2362319 | Email Id: surbhit@rekvina.com
Amit Mukesh Shah (“Acquirer -2”),
residing at Plot No. 3/A, Kunj Co. Op. HSL, Alkapuri, Vadodara – 390007, Gujarat, India.
Contact No.: (+91) 265-2362966 / 2362319 | Email Id: amit@rekvina.com
Dhruvalkumar Patel (“Acquirer -3”)
residing at 80 Antica Greenwoods, Sevasi Ankodiya road, Khanpur, PO: Ampad, Vadodara - 391101, Gujrat.
Contact No.: (+91) 265-2362966 / 2362319 | Email Id: dhruvalpatel1@gmail.com.
(hereinafter collectively referred to as “Acquirers”)
to the Public Shareholders of
REKVINA LABORATORIES LIMITED
Registered Office: 36, Sampatrao Colony, Next to Royal Hotel, Alkapuri, Vadodara - 390007, Gujarat, India.
Website: www.rekvinalaboratories.in | Tel. No: (+91) 265-2362966 / 2362319 | Email: info@rekvinalaboratories.com | CIN: L24231GJ1988PLC011458
to acquire up to 28,90,100 (Twenty Eight Lakhs Ninety Thousand One Hundred) fully paid-up equity shares of face value of ₹5/- (Rupees Five Only) each, representing 26%
(Twenty Six Percent) of the Expanded Share Capital (as defined below) of the Target Company at a price of ₹ 10/- (Rupees Ten Only) per Equity Share (as defined below),
payable in cash.
PLEASE NOTE
1. This Open Offer is being made by the Acquirers pursuant to and in compliance with Regulations 3(2) and 4 and other applicable regulations of the Securities and Exchange
Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended (“SEBI (SAST) Regulations”)
2. This Open Offer is not conditional upon any minimum level of acceptance in terms of Regulation 19 of SEBI (SAST) Regulations.
3. As on the date of this LOF (as defined below), there are no statutory or other approval(s) required to complete the Underlying Transaction (as defined below) contemplated
under the SEPA (as defined below) and the acquisition of Offer Shares (as defined below) that are validly tendered pursuant to this Open Offer except for those mentioned
in point no. 7.4 at page no. 32 of this LOF. However, in case any other statutory approvals become applicable and are required by the Acquirers at a later date before the
closure of the Tendering Period (as defined below), this Open Offer shall be subject to receipt of such further approvals.
4. Where any statutory or other approvals extend to some but not all of the Public Shareholders (as defined below), the Acquirer shall have the option to make payment to
such Public Shareholders in respect of whom no statutory approvals or other approvals are required in order to complete this Open Offer.
5. Regulation 167(2) of SEBI ICDR Regulations, 2018 provides that the specified securities allotted on a preferential basis to persons other than the promoters and promoter
group and the equity shares allotted pursuant to exercise of options attached to warrants issued on preferential basis to such persons shall be locked-in for a period of six
months from the date of trading approval. Hence, shares held by persons other than the promoters during the open offer period which are under lock-in, are not permitted
to be tendered in the open offer in accordance with regulation 167(2) of SEBI ICDR Regulations and if tendered, shall not be accepted in the open offer.
6. Under Regulation 18(4) of the SEBI (SAST) Regulations, the Acquirers are permitted to revise the Offer Price (as defined below) at any time prior to the commencement
of the last 1 (One) Working Day (as defined below) before the commencement of the Tendering Period (as defined below). In the event of such revision, in terms of
Regulation 18(5) of the SEBI (SAST) Regulations, the Acquirers shall: (i) make corresponding increase to the escrow account, (ii) make a public announcement in the same
newspapers in which the DPS (as defined below) was published, and (iii) simultaneously notify SEBI (as defined below), Stock Exchange (as defined below) and the Target
Company at its registered office. Such revision would be done in compliance with other requirements prescribed under the SEBI (SAST) Regulations. The same price shall
be payable by the Acquirers for all the Equity Shares tendered anytime during the Open Offer.
7. This Open Offer is not a competing offer in terms of Regulation 20 of the SEBI (SAST) Regulations.
8. There has been no competing offer as on the date of this LOF.
9. A copy of Public Announcement (as defined below) and Detailed Public Statement (as defined below), DLOF, corrigendum, if any and LOF (including Form of Acceptance)
shall be available on the website of Securities and Exchange Board of India (“SEBI”) i.e. www.sebi.gov.in and on the website of Manager to the Offer i.e.
https://www.vivro.net/
All future correspondence, if any, should be addressed to the Manager to the Offer/ Registrar to the Offer at the address mentioned below:
MANAGER TO THE OFFER REGISTRAR TO THE OFFER
Vivro Financial Services Private Limited Purva Sharegistry (I) Private Limited
Vivro House, 11 Shashi Colony, Opp. Suvidha Shopping Centre, Paldi, Ahmedabad – Address: Unit No. 9, Ground Floor, Shiv Shakti Industrial Estate, J. R. Boricha
380007. Gujarat. India. Marg, Lower Parel East, Mumbai – 400011, Maharashtra, India.
CIN: U67120GJ1996PTC029182 CIN: U67120MH1993PTC074079
Tel. No.: +91 79- 4040 4242 Tel No.: +91 022-31998810 / 49614132
Website: www.vivro.net Website: www.purvas
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