Parnax Lab promoter Mihir Prakash Shah has acquired a 3.29% stake in the company through an off-market inter-se transfer by way of gift from fellow promoter Baiju Shah. The transaction, executed on July 21, 2026, involved the transfer of 3,77,355 equity shares and was reported to the Bombay Stock Exchange (BSE) and SEBI in August 2026.

The shareholding pattern within the promoter group has been reshuffled without altering the total consolidated ownership. Mihir Shah’s individual stake rose from 9.94% to 13.22%, while Baiju Shah’s holding decreased from 11.57% to 8.29%. The combined shareholding of the two promoters remained constant at 21.51%.

Transaction Details

The acquisition falls under the exemption provided in Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which permits inter-se transfers among promoters or persons acting in concert without triggering an open offer obligation. Consequently, no consideration was paid for the shares, as the transfer was structured as a gift.

Regulatory Compliance

Mihir Shah filed the necessary disclosures with the BSE and SEBI at multiple stages:

• Regulation 10(5): Prior intimation for the proposed acquisition was submitted on June 25, 2026.
• Regulation 10(6): Report on the completed acquisition was filed on July 24, 2026.
• Regulation 10(7): Final report to SEBI regarding the exemption was submitted on August 13, 2026, along with the requisite filing fees of ₹1,77,000.
• Insider Trading Disclosure: Form C under Regulation 7(3) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, was filed on July 24, 2026, disclosing the change in holdings.

The documents confirm that both parties complied with Chapter V of the Takeover Regulations and relevant insider trading norms. The company’s paid-up share capital remains at ₹11,48,56,160, comprising 1,14,85,616 fully paid equity shares of ₹10 each.

Parnax Lab Limited has initiated a postal ballot process to seek shareholder approval for the re-appointment of Mr. Yogesh Kantilal Varia as a Non-Executive Independent Director for a term of five years. The resolution, subject to shareholder consent, proposes the appointment effective from May 28, 2026, to May 27, 2031. The Board of Directors approved the proposal during its meeting held on May 28, 2026, based on the recommendation of the Nomination & Remuneration Committee.

Postal Ballot Calendar

The company has established a schedule for the postal ballot and e-voting process. The cut-off date for determining voting rights is July 3, 2026. The remote e-voting facility will be available from July 10, 2026, at 9:00 A.M. (IST) until August 8, 2026, at 5:00 P.M. (IST). The results of the postal ballot are scheduled to be declared on or before August 10, 2026.

Director Profile and Disclosures

Mr. Yogesh Kantilal Varia (DIN: 09186184) possesses over 40 years of experience in pharmaceutical and cosmetics manufacturing. He holds a Bachelor of Science (BSE) degree. The company has received his consent to act as a director via Form DIR-2 and a declaration of disqualification via Form DIR-8. He has also submitted a declaration confirming he meets the independence criteria under Section 149(6) of the Companies Act, 2013. Mr. Varia does not hold any shares in the company and is not related to any other directors or key managerial personnel.

Voting Process and Scrutinizer

M/s. MUFG Intime India Pvt. Ltd. has been appointed to provide the e-voting facility. The Board has appointed Mr. Hemant Shetye or Mr. Kunal Sakpal, Designated Partners of HSPN & Associates LLP, as the Scrutinizer to ensure the process is conducted fairly. Shareholders can cast their votes electronically through the InstaVote platform or via their respective depositories, NSDL and CDSL. The notice is available on the company's website and the website of MUFG Intime.