Authum Investment to Acquire 35.09% Stake in Rivaara Labs

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26 Aug, 2025 12:21

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Authum Investment & Infrastructure Ltd. announced it has entered into a Share Subscription cum Purchase Agreement (SSPA) to acquire a 35.09% stake in Rivaara Labs Private Limited. The agreement, dated August 25, 2025, involves Rivaara Labs issuing and offering shares, and the company purchasing shares from existing shareholders.

The transactions contemplated under the SSPA are subject to satisfactory fulfillment of certain conditions precedent, including receipt of necessary corporate authorizations. Upon completion, Authum Investment will be entitled to exercise 35.09% of the total voting rights of Rivaara Labs.

Acquisition Details

• Share Subscription: Rivaara Labs will issue and offer 3,60,00,000 (Three Crore and Sixty Lakhs) cumulative compulsorily convertible participating preference shares (CCPS).
• Share Purchase: Authum Investment will purchase 1,58,42,000 equity shares and 4,09,88,011 CCPS from existing shareholders of Rivaara Labs.

Target Entity: Rivaara Labs Private Limited

• CIN: U85300MH2019PTC331867
• Registered Office: 17th Floor, Hoechst House, Nariman Point, Mumbai - 400 021
• Net Worth (as of March 31, 2025): -₹348.29 Lakhs
• Turnover (as of March 31, 2025): ₹255.27 Lakhs

Industry

Rivaara Labs is engaged in:

1. Establishing and operating diagnostic service centers including pathology, imaging, PCR testing, and genomic sequencing.

1. Distribution, marketing, and manufacturing of point-of-care diagnostic kits and equipment based on molecular biology in India.

1. RT-PCR related diagnostic services, including the development, manufacture, distribution, and sale of test kits, reagents, enzymes, and related consumables.

1. Rendering digital healthcare products and services related to diagnostics.

Objects and Impact of Acquisition

The acquisition aligns with Authum Investment's long-term strategy of diversifying its portfolio and investing in sectors with stability and growth potential. The intention is to nurture and expand this business, maximizing value creation for all stakeholders.

Indicative Time Period for Completion

Subject to the completion of conditions precedent, the acquisition is expected to be completed by September 30, 2025.

Consideration

The acquisition will be through cash consideration.

Cost of Acquisition

The total cost of acquisition is ₹36.57 Crores, which includes:

1. Primary Infusion: ₹36.00 Crores to subscribe to 3,60,00,000 CCPS of Rivaara Labs.

1. Purchase Consideration: ₹56.83 Lakhs for the purchase of 1,58,42,000 equity shares and 4,09,88,011 CCPS.

Shareholding

Post-acquisition, Authum Investment will hold 7,69,88,011 CCPS and 1,58,42,000 equity shares of Rivaara Labs, entitling the Company to exercise 35.09% of the total voting rights of Rivaara Labs.

Brief Background of Rivaara Labs

• Date of Incorporation: October 18, 2019
• Turnover of Last 3 Years:
  • FY 22-23: ₹233.62 Lakhs
  • FY 23-24: ₹267.02 Lakhs
  • FY 24-25: ₹255.27 Lakhs
  
  

• Country of Presence: India

Post-acquisition, Authum Investment will hold 7,69,88,011 CCPS and 1,58,42,000 equity shares of Rivaara Labs, entitling the Company to exercise 35.09% of the total voting rights of Rivaara Labs.