Fedex Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Public Shareholders of Parmax Pharma Ltd ("Target Company").
M&A
● No Immediate Change
MEDIUM RISK
📅 Filed on BSE: 23 Jun 2026, 08:45 AM IST · BSE ID: c93d224d-18b1-49dd-82a7-41f805f1fbec
View Original BSE Filing (PDF)
💡
In Simple Terms
New acquirers have issued a formal document to public shareholders to buy an additional 26.00% of Parmax Pharma.
🤖 AI Summary
- Draft Letter of Offer submitted for an open offer to acquire shares of Parmax Pharma Ltd.
- The open offer targets up to 23,46,250 fully paid-up equity shares from public shareholders.
- This represents 26.00% of Parmax Pharma's Expanded Voting Share Capital.
- Dhiren Chandulal Shah and Sunil Chinubhai Shah are the Acquirers, with 10 Persons Acting in Concert (PACs).
- Submission complies with Regulation 16(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Equity Shares under Open Offer
23,46,250
Percentage of Expanded Voting Share Capital
26.00%
Face Value per Equity Share
₹ 10.00
🏢 How This Affects the Company
This open offer indicates a change in control for Parmax Pharma, introducing new strategic and operational directions from the incoming Acquirers and Persons Acting in Concert.
👥 What This Means For Shareholders
✅
Action Required
Public shareholders of Parmax Pharma Limited will receive the Letter of Offer and Form of Acceptance-cum-Acknowledgement, which requires their attention to decide on tendering shares.
👤
Who Is Affected
Public shareholders of Parmax Pharma are affected, as the Acquirers Dhiren Chandulal Shah and Sunil Chinubhai Shah, along with PACs, are offering to acquire up to 26.00% of the expanded voting share capital from them.
🔍
Management Signal
The submission of the Draft Letter of Offer signals the Acquirers' continued intent to complete the acquisition and take control of Parmax Pharma.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Regulatory approval of the Draft Letter of Offer by SEBI.
Announcement of the Open Offer period, including offer price and timeline.
Outcome of the open offer, including shares tendered and final shareholding changes.
MEDIUM RISK
The completion of the open offer introduces a change in control, which carries inherent business and strategic execution risks.
💡 Investor Takeaway
Fedex Securities Pvt Ltd submitted the Draft Letter of Offer for the open offer, targeting 23,46,250 equity shares, or 26.00% of Parmax Pharma's expanded voting share capital. This confirms the procedural advancement of the acquisition process by Dhiren Chandulal Shah and Sunil Chinubhai Shah.
⚖️ Strengths & Concerns
✅ Positives
- The open offer by new acquirers, previously announced, is progressing with the submission of the Draft Letter of Offer.
- The acquisition of 26.00% of expanded voting share capital strengthens the new Acquirers' control over the company.
📅 Company Track Record
A previous filing on 2026-06-09 indicated a share purchase agreement and public announcement regarding new Acquirers gaining control of Parmax Pharma, with an injection of ₹19.28 Crore via preferential issue.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is the purpose of the Draft Letter of Offer submitted by Fedex Securities Pvt Ltd for Parmax Pharma?
The Draft Letter of Offer is for an open offer to acquire up to 23,46,250 fully paid-up equity shares of Parmax Pharma from its public shareholders, representing 26.00% of the expanded voting share capital.
Who are the Acquirers making the open offer for Parmax Pharma?
The Acquirers are Dhiren Chandulal Shah and Sunil Chinubhai Shah, along with ten Persons Acting in Concert (PACs).
What percentage of Parmax Pharma's voting share capital is targeted in this open offer?
The open offer targets 26.00% of the Expanded Voting Share Capital of Parmax Pharma Limited.
What is the face value of each equity share of Parmax Pharma in this open offer?
Each equity share of Parmax Pharma has a face value of ₹ 10.00 for the purpose of this open offer.
Questions based on this BSE filing only. For information purposes.