Parmax Pharma open offer, ₹19.28 cr issue: 2026

What has been announced

Parmax Pharma has disclosed two linked corporate actions that together point to a change in control. First, an open offer has been announced to acquire up to 26% of the company’s expanded voting capital. Second, the company’s board has approved a preferential issue of equity shares and convertible warrants to identified allottees, which is also positioned as part of the change-in-control process.

The disclosures were accompanied by a timetable for shareholder voting through an Extraordinary General Meeting (EGM) and remote e-voting. The developments are relevant for investors tracking dilution, voting rights, and compliance steps that typically accompany a control transaction.

Stock price snapshot on 9 June 2026

Parmax Pharma’s share price was reported at ₹51.25 as of 9 June 2026, with the update timestamp shown as 14:58 IST. The same snapshot showed a move of ₹2.44 (5.00%).

Separately, an open offer price has been disclosed at ₹42.80 per share. The juxtaposition of the then-reported market price and the open offer price is one of the immediate data points investors tend to monitor in such situations.

Open offer: size, price, and consideration

The open offer has been announced to acquire up to 26% of Parmax Pharma’s expanded voting capital. The offer price is ₹42.80 per share.

The total consideration is stated as up to ₹10.04 crore. The acquirers are Dhiren & Sunil Shah along with persons acting in concert (PACs). The disclosure states that the transaction signals a change in control.

Preferential issue approved by the board

Parmax Pharma said its Board of Directors, at a meeting held on 8 June 2026, approved raising ₹19.28 crore through a preferential issue of equity shares and warrants. The issuance is to 14 proposed allottees, described as non-promoter group allottees.

The issue price is ₹36.50 per security, comprising a face value of ₹10 and a premium of ₹26.50. The company sanctioned the issuance of 31,37,586 equity shares and 21,45,145 convertible warrants.

The company also stated that the preferential allotment, secondary acquisition, and the open offer together are intended to facilitate a change in control, with acquirers seeking majority voting rights through these steps.

Break-up of the ₹19.28 crore fundraise

The preferential issue involves a total fund raise of ₹19,28,19,682. As per the disclosed break-up, the equity shares aggregate to ₹11,45,21,889 and the warrants aggregate to ₹7,82,97,793.

The warrants are exercisable in one or more tranches within 18 months from the date of allotment. This structure matters because warrants, if exercised, can translate into further equity issuance within the permitted timeframe.

The Committee of Independent Directors unanimously recommended the preferential issue. The company also stated that Tuesday, 2 June 2026, was determined as the relevant date for pricing floor calculations under SEBI ICDR Regulations.

EGM on July 2, 2026: approval process and voting window

An Extraordinary General Meeting is scheduled for Thursday, 2 July 2026, at 11:30 am IST via video conferencing. The EGM is planned to seek shareholder approval for the capital increase, the preferential issue, and alteration of the Memorandum of Association.

Remote e-voting is set to be open from 29 June 2026 to 1 July 2026. The cut-off date for determining voting eligibility is 25 June 2026, as stated in the disclosure.

The board appointed Shreyans Jain & Co., Practising Company Secretary, as the scrutinizer for the e-voting process.

Authorised capital and Articles of Association changes

Alongside the fundraise, the board approved changes to the company’s capital structure and governance documents. The company disclosed an approval to increase the authorised share capital from ₹6 crore to ₹10 crore.

In another line from the same set of updates, it was stated that authorised capital would be increased to ₹1000 crore. The disclosure also stated that the company would adopt a new set of Articles of Association to align with the Companies Act, 2013.

Shareholders are expected to vote on these changes at the EGM scheduled for 2 July 2026.

How the event unfolded: from board meeting notice to outcome

Before the board outcome, Parmax Pharma had announced that its Board of Directors would meet on 8 June 2026 to evaluate a fund-raising proposal. The company indicated it could issue eligible securities such as equity shares or equity-linked instruments through a preferential issue or private placement.

It also disclosed a trading window closure from 3 June 2026 until 48 hours after the board meeting concludes, citing SEBI (Prohibition of Insider Trading) Regulations. After the board meeting, the company disclosed the specific fundraise amount, pricing, and instrument mix, along with the plan to seek shareholder approval through an EGM.

Governance updates from an earlier EGM

The provided disclosures also reference an Extra Ordinary General Meeting held on 27 May 2026. Parmax Pharma stated that the meeting approved the re-appointment of Umang Alkesh Gosalia as Managing Director and the appointments of Pradeep Ramniklal Gosalia and Salma Badrudin Thobhani as Non-Executive Directors.

The meeting, chaired by Managing Director Umang Alkesh Gosalia, saw shareholders pass resolutions for the Managing Director and two Non-Executive Directors while rejecting proposals for two Independent Directors. Separately, the company stated that Dr. Umang Gosalia was approved for re-appointment as Managing Director for five years from 28 June 2026 to 27 June 2031, subject to shareholder approval.

Key facts table

Market impact and what investors will track next

The immediate market reference point is that the disclosed open offer price is ₹42.80 per share, while the share price was reported at ₹51.25 on 9 June 2026. The preferential issue price is disclosed at ₹36.50, and the issuance includes both equity and warrants, which implies potential dilution depending on final allotment and subsequent warrant exercise.

Process-wise, the next visible milestones are the remote e-voting period (29 June to 1 July 2026) and the EGM on 2 July 2026. Investors will typically track the shareholder voting outcome, the final allotment details, and subsequent disclosures connected to the open offer and any secondary acquisition referenced by the company.

Conclusion

Parmax Pharma’s disclosures outline a transaction framework involving an open offer for up to 26% of expanded voting capital and a ₹19.28 crore preferential issue at ₹36.50, both described as steps enabling a change in control. The company has also scheduled a shareholder vote on 2 July 2026, with remote e-voting from 29 June to 1 July 2026.

The next set of confirmed updates is expected through the EGM outcome and related filings, including approvals for the preferential issue, capital changes, and amendments to constitutional documents.