Share purchase agreement and Public Announcement

Acquisition announcedOpen offerStrategic Transactions View source PDF Explain this filing

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+5.0%Reaction day

₹51.25

prior close

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announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.4%+6.4% vs market

Pharmaceuticals peers, median of 164sector-0.6%+5.6% vs sector

On the reaction day the stock moved 6.4 pts more than Nifty Microcap 250 and 5.6 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+5.0-1.4+6.4-0.6+5.6

Next day

+10.2-2.5+12.8-1.4+11.7

+15.7+0.4+15.3-0.1+15.9

+21.5+2.2+19.4+0.4+21.2

+27.6+2.7+24.9+0.1+27.5

+30.1+3.9+26.3+0.0+30.1

+35.4+5.2+30.2+0.2+35.1

15d

+58.6+6.5+52.1+3.6+54.9

+78.5+6.9+71.6+4.2+74.3

+112.4+9.1+103.2+4.8+107.6

—+11.6—+8.6—

UpDownMarket · Nifty Microcap 250Sector · Pharmaceuticals peers, median of 164Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Parmax Pharma Ltd is undergoing a change of control. Existing promoters (Alkesh, Vipul, and Pravina Gopani) are selling their stake to a new set of acquirers led by Dhiren Chandulal Shah and Sunil Chinubhai Shah, along with 10 persons acting in concert. The deal is structured in three parts: (i) a preferential allotment of 31,37,586 equity shares at ₹36.50 per share (face value ₹10, premium ₹26.50), aggregating about ₹11.45 crore; (ii) a secondary share purchase from existing promoters at ₹35 per share via a Share Purchase Agreement; and (iii) an open offer to public shareholders under SEBI takeover rules. Additionally, 21,45,145 convertible warrants will be issued at ₹36.50 each (about ₹7.83 crore), exercisable within 18 months. Following completion, the board will be reconstituted with the new management taking control.

Likely market impact

This is a significant change-of-control event. Public shareholders will get a chance to tender shares in the open offer (price yet to be detailed in this filing), which is typically at a premium to market price. The stock may see short-term volatility around the open offer pricing and regulatory approvals. Existing promoters are fully exiting, meaning the company will have entirely new management and strategic direction going forward.