Share purchase agreement and Public Announcement
M&A
◆ Monitor Closely
MEDIUM RISK
📅 Filed on BSE: 09 Jun 2026, 10:51 PM IST · BSE ID: 16f75bd8-a369-49af-a3f4-3a1580754dc6
View Original BSE Filing (PDF)
💡
In Simple Terms
New investors are taking over Parmax Pharma through a share purchase, preferential share issuance, and a public offer.
🤖 AI Summary
- Acquirers (Dhiren Chandulal Shah and Sunil Chinubhai Shah with PACs) seek majority voting rights and control.
- Acquisition method includes preferential allotment, secondary acquisition via Share Purchase Agreement (SPA), and an open offer.
- SPA executed at ₹35 per equity share, transferring control from current promoters.
- Preferential allotment involves 31,37,586 equity shares at ₹36.50 per share, totalling ₹11,45,21,889.
- Issuance of 21,45,145 convertible warrants at ₹36.50 per warrant, aggregating to ₹7,82,97,793.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Share Purchase Agreement Price
₹35 per equity share
Equity Shares issued via Preferential Allotment
31,37,586 equity shares
Issue Price of Preferential Equity Shares
₹36.50 per Subscription Share
Total Value of Preferential Equity Allotment
₹11,45,21,889
Convertible Warrants issued
21,45,145 convertible warrants
Issue Price of Convertible Warrants
₹36.50 per warrant
Total Value of Convertible Warrants Allotment
₹7,82,97,793
🏢 How This Affects the Company
The acquisition of control by new Acquirers may lead to changes in the company's strategic direction and business operations.
The company will receive ₹11,45,21,889 from the preferential allotment of equity shares and ₹7,82,97,793 from the issuance of convertible warrants.
Control over the company will shift from the current promoters (Sellers: Alkesh Mahasukhlal Gopani, Vipul Mahasukhlal Gopani, Pravina Mahasukh Gopani) to the new Acquirers.
The consummation of the Proposed Transaction is subject to satisfaction of conditions precedent, including receipt of relevant statutory approvals, introducing execution risk.
👥 What This Means For Shareholders
✅
Action Required
Shareholders are advised to review the open offer details when announced and consider participation.
👤
Who Is Affected
Existing shareholders will be affected by the change in control and the open offer terms. Promoters Alkesh Mahasukhlal Gopani, Vipul Mahasukhlal Gopani, and Pravina Mahasukh Gopani are selling their shares.
🔍
Management Signal
The decision indicates the current promoters' intent to divest their stake and control of the company to new Acquirers.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Announcement of open offer details as per SEBI (SAST) Regulations.
Updates on receipt of necessary statutory approvals for the transaction.
Details regarding the new management team and strategic plans post-acquisition.
MEDIUM RISK
The transaction involves a change of control and is subject to multiple conditions precedent and regulatory approvals.
💡 Investor Takeaway
Acquirers Dhiren Chandulal Shah and Sunil Chinubhai Shah, with PACs, are set to acquire control of Parmax Pharma. This includes a Share Purchase Agreement at ₹35 per equity share, a preferential allotment of 31,37,586 equity shares for ₹11,45,21,889, and 21,45,145 convertible warrants for ₹7,82,97,793, both at ₹36.50 each. The transaction's completion is subject to statutory approvals.
⚖️ Strengths & Concerns
✅ Positives
- Company receives capital of ₹11,45,21,889 from preferential allotment of equity shares at ₹36.50 per share.
- Further capital of ₹7,82,97,793 secured from convertible warrants at ₹36.50 per warrant.
⚠️ Concerns
- The transaction's completion is dependent on fulfilling conditions precedent, including statutory approvals, indicating uncertainty.
- Existing promoters are selling their stake and control, marking a complete change in leadership without stated succession plan.
📅 Company Track Record
No previous filings found for Parmax Pharma Ltd (BSE: 540359) providing historical financial or operational context.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is the Share Purchase Agreement price for Parmax Pharma shares?
The Share Purchase Agreement (SPA) for Parmax Pharma shares is executed at a price of ₹35 per equity share.
Who are the Acquirers seeking to gain control of Parmax Pharma?
The Acquirers are Dhiren Chandulal Shah and Sunil Chinubhai Shah, along with their Persons Acting in Concert (PACs).
What is the total value of the preferential allotment of equity shares for Parmax Pharma?
The preferential allotment of 31,37,586 equity shares is valued at ₹11,45,21,889, with an issue price of ₹36.50 per share.
What is the value of convertible warrants being issued by Parmax Pharma?
Parmax Pharma is issuing 21,45,145 convertible warrants for an aggregate value of ₹7,82,97,793, at an issue price of ₹36.50 per warrant.
Questions based on this BSE filing only. For information purposes.