Parmax Pharma Limited received in-principle approval from the Bombay Stock Exchange for a preferential allotment of equity shares and warrants. The exchange granted the nod on August 21, 2026, under Regulation 28(1) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The company intends to raise capital through the issuance of 31,37,586 equity shares and 21,45,145 warrants. Both securities carry a face value of ₹10 each. The issue price is set at not less than ₹36.50 per share or warrant.

Issue Structure

The preferential allotment comprises two distinct security types convertible into equity. The warrants will convert into an equal number of equity shares upon exercise. The transaction requires compliance with applicable SEBI regulations before final execution.

This follows an earlier intimation by the company dated June 8, 2026. The allottees are determined as per the Notice of the Extraordinary General Meeting.

Dhiren Chandulal Shah and Sunil Chinubhai Shah, alongside a group of persons acting in concert (PACs), have acquired 11,52,450 equity shares of Parmax Pharma in an off-market transaction. The acquisition, completed on August 13, 2026, raises the combined shareholding of the acquirers and PACs to 58.01% of the company’s total equity capital.

The shares were purchased from Alkesh Mahasukhlal Gopani, Vipul Mahasukhlal Gopani, and Pravina Mahasukh Gopani at a price of ₹35 per share. This transaction was executed pursuant to a Share Purchase Agreement (SPA) dated June 8, 2026. While the consideration has been paid, the shares are yet to be credited to the respective demat accounts of the buyers.

Acquisition Details

The acquisition involves two primary acquirers and ten persons acting in concert, as detailed in the Regulation 29(2) disclosure filed on August 14, 2026. Prior to this transaction, the group held 10,17,714 shares, representing 27.20% of the total share capital. The new infusion of 11,52,450 shares significantly consolidates control within the group.

The updated disclosure identifies five additional PACs not explicitly listed in the initial summary: Rupa Sunil Shah (PAC 5), Abhay Chinubhai Shah (PAC 8), Umang Alkesh Gosalia (PAC 9), and Meena Alkesh Gosalia (PAC 10). Notably, Abhay Chinubhai Shah holds a significant pre-existing stake of 2,49,394 shares (6.67%), while Meena Alkesh Gosalia holds 4,74,800 shares (12.69%).

Regulatory Disclosure

Sunil Chinubhai Shah submitted the disclosure to BSE Limited under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing confirms that all entities involved were previously disclosed in the Detailed Public Statement dated June 15, 2026, and the Letter of Offer dated July 21, 2026. The disclosure was signed by Sunil Chinubhai Shah on August 14, 2026.

What the Numbers Show

The transaction marks a substantial consolidation of ownership. By increasing their stake from 27.20% to 58.01%, the acquirer group has crossed the 50% threshold, establishing absolute majority control over Parmax Pharma. The uniform purchase price of ₹35 across all tranches suggests a pre-negotiated block deal structure rather than open-market accumulation, indicating a planned strategic shift in the company’s promoter landscape. The inclusion of family members such as Rupa Sunil Shah and Abhay Chinubhai Shah in the PAC group highlights a coordinated effort to consolidate voting power within the extended promoter circle.