Parmax Pharma shareholders have approved the issuance of equity shares and convertible warrants to non-promoter investors through a preferential allotment. The resolutions were passed during an Extraordinary General Meeting (EGM) held on July 2, 2026, via video conferencing. These approvals enable the company to restructure its capital base and raise funds to support future growth initiatives, with all four proposed resolutions receiving the requisite majority.

The meeting, chaired by Managing Director Mr. Umang Alkesh Gosalia, commenced at 11:30 a.m. and concluded at 11:57 a.m. Proceedings were conducted in compliance with the Companies Act, 2013, and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Purva Sharegistry (India) Private Limited facilitated the electronic voting process, which was open for remote e-voting from June 29 to July 1, 2026, and during the meeting itself. Shreyans Jain, Practicing Company Secretary, served as the scrutinizer.

Resolutions Passed

The shareholders passed one ordinary resolution and three special resolutions. The ordinary resolution authorized an increase in the authorised share capital and the consequent alteration of the capital clause of the memorandum of association. A special resolution was adopted to replace the existing articles of association with a new set, aligning internal regulations with current governance standards.

Preferential Capital Issuance

Two special resolutions sanctioned the preferential issuance of securities to non-promoter investors. The first authorized the issuance of 31,37,586 equity shares, while the second approved the issuance and allotment of 21,45,145 convertible warrants. Both issuances are on a private placement basis.

The detailed scrutinizer's report confirms that all resolutions were passed with the required majority, with 23,36,153 votes cast in favour of the resolutions.

Parmax Pharma has published a corrigendum to the Notice of Extraordinary General Meeting (EGM) dated June 8, 2026, in the Financial Express, including its Gujarati edition. The corrigendum addresses specific details regarding the proposed warrant allottees and a document hyperlink for the meeting scheduled on July 2, 2026, through Video Conferencing and other Audio-Visual Means.

The company informed shareholders that the entry for Ms. Sheetal Hiren Doshi under the column "Proposed status / Category of the Allottees" in Item No. 4 of the EGM Notice was inadvertently mentioned as "Promoter". The correct classification has been updated to "Promoter Group". This change is part of the resolution concerning the Preferential Issue of Equity Shares and Convertible Warrants.

The corrigendum also rectified the hyperlink provided for the certificate from Shreyans Jain & Co., the Practicing Company Secretary. The updated link facilitates access to the certificate required under Regulation 163(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The document certifies that the Preferential Issue complies with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The revised table of Proposed Warrant Allottees details the individuals involved, the number of warrants offered, and the total consideration. The total number of warrants offered is 21,45,145 for a total consideration of ₹7,82,97,793. The table clarifies the current and proposed status of each allottee, distinguishing between Promoters, Promoter Group, and Public categories.

The notice stated that the Acquirers and Persons Acting in Concert (PACs) shall trigger the open offer process upon completion of the preferential issue, in accordance with the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. All other items of the Notice of EGM and the Explanatory Statement dated June 8, 2026, remain unchanged.