Parmax Pharma Limited reported a major fire incident at its Rajkot manufacturing plant on September 28, 2026. The blaze broke out around 2:00 am, resulting in injuries to two employees who were subsequently hospitalized. No fatalities were recorded in the incident.

The company confirmed that the fire was successfully controlled with the assistance of employees present at the site and local fire department personnel. Parmax Pharma stated that the extent of the damage is currently being assessed. Crucially for investors concerned about operational continuity and financial exposure, the company disclosed that the damage caused by the fire is covered under insurance.

Incident details and regulatory disclosure

The intimation was filed with BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The affected unit is located at Plot no. 20, Survey no. 52, Rajkot-Gondal National Highway No. 27, Hadamtala, Rajkot-360311, Gujarat.

The filing, signed by Managing Director Umang Alkesh Gosalia, noted that the incident was reported to the Fire Department by on-site employees. These employees also supported the Fire Department in bringing the situation under control.

Operational impact assessment

In the mandatory annexure provided to the stock exchange, Parmax Pharma addressed key operational questions:

The company indicated it will keep the stock exchange informed of any further material developments regarding the incident. The specific financial quantum of the loss remains under assessment, though the insurance coverage serves as a primary mitigant against direct balance sheet impact.

Parmax Pharma Limited has intimated the acquisition of 30.80% of its equity share capital by Dhiren Chandulal Shah, Sunil Chinubhai Shah, and their persons acting in concert (PACs) through a Share Purchase Agreement dated June 8, 2026. This follows the conclusion of an open offer on August 12, 2026, which saw zero shares tendered by public shareholders.

The acquisition involves the purchase of 11,52,450 equity shares from erstwhile promoters Alkesh Mahasukhlal Gopani, Vipul Mahasukhlal Gopani, and Pravina Mahasukh Gopani. Upon completion, the acquirers and specific PACs will be classified as promoters, while the existing promoters will be reclassified under the public category in compliance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key offer details

The following table summarises the core parameters of the open offer:

Acquirer and PAC shareholding

Prior to the public announcement, the acquirers held no shares in Parmax Pharma. Among the PACs, PAC 4 (Nirmal Sunilbhai Shah) held 32,500 shares (0.87%), PAC 7 (Kamlesh Natvarlal Shiyani) held 7,500 shares (0.20%), PAC 9 (Umang Alkesh Gosalia) held 2,00,000 shares (5.35%), and PAC 10 (Meena Alkesh Gosalia) held 4,74,800 shares (12.69%) of the fully diluted equity share capital.

Subsequent to the public announcement, shares were acquired by way of agreements. The actual post-offer shareholding of the acquirers and PACs is set out below:

PAC 5 and PAC 8 also acquired shares after the detailed public statement at ₹35.00 per share: PAC 5 acquired 53,520 shares (0.59% of current equity share capital) and PAC 8 acquired 2,49,394 shares (2.76% of current equity share capital). It is noted that credit of only 2,46,580 equity shares has been received in the demat account of PAC 8 pursuant to the share purchase agreement dated June 18, 2026, with credit of the balance 2,814 equity shares still pending.

Public shareholder position

The pre-offer shareholding of public shareholders stood at 15,71,136 shares, representing 41.99% of the fully diluted equity share capital. Since no shares were tendered in the open offer, the post-offer public shareholding remains at 15,71,136 shares, representing 17.41% of the fully diluted equity share capital on an actual basis.

Regulatory and transaction notes

The preferential issue allotment remains pending as of the advertisement date. The application for in-principle approval from BSE for the proposed preferential issue was submitted on June 9, 2026, and the requisite approval was received from BSE on August 21, 2026. The expanded voting capital referenced in percentage calculations includes 52,82,731 equity shares to be issued pursuant to the proposed preferential issue, assuming full conversion of warrants. Actual percentage figures are calculated as a percentage of the current equity share capital of the target company, i.e., 37,41,300 equity shares.

Upon consummation of the underlying transaction and subject to compliance with applicable SEBI regulations, the acquirers will acquire and exercise control over Parmax Pharma. The acquirers, PAC 2, and PAC 9 will be classified as promoters of the target company, while PAC 1, PAC 3, PAC 4, PAC 5, PAC 6, PAC 7, PAC 8, and PAC 10 will be classified as members of the promoter group. The aggregate shareholding of the acquirers and the PACs, assuming full conversion of warrants and full acceptance of the open offer, would be 94.34% of the expanded voting capital. The existing promoters will cease to be promoters and will be declassified from the promoter and promoter group category in accordance with Regulation 31A of the SEBI (LODR) Regulations. The post offer advertisement was issued in compliance with Regulation 18(12) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The company has received undertakings from the erstwhile promoters confirming compliance with conditions under Regulation 31A(3) of the SEBI LODR Regulations, including that they do not hold more than 10% voting rights, do not exercise control, have no special rights, are not represented on the board, do not act as key managerial personnel, are not wilful defaulters, and are not fugitive economic offenders.