Fedex Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulation 3(1) And Regulation 4 Read with Regulation 13, Regulation 14 And Regulation ....
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Parmax Pharma Ltd, listed on BSE (Scrip Code: 540359), has received a Public Announcement for a mandatory open offer from Dhiren Chandulal Shah and Sunil Chinubhai Shah along with 10 persons acting in concert (PACs). The offer is to acquire up to 23,46,250 equity shares (26% of the expanded voting capital) from public shareholders at ₹42.80 per share, totaling about ₹10.04 crores. The offer was triggered by a Share Purchase Agreement to buy 12.77% stake from the existing promoter Gopani family at ₹35/share, combined with a preferential issue of shares and warrants at ₹36.50/share to the new acquirers. Post-transaction, the existing promoters will completely exit, and the new acquirers will take over control of the company, holding about 57% combined. The acquirers have stated no intention to delist the company.
This is a change-of-control event for retail shareholders. Existing promoter family is exiting entirely, and a new group is taking over with a controlling stake. Public shareholders can tender shares at ₹42.80 (a premium over the SPA price of ₹35), and the open offer is not conditional on minimum acceptance, giving shareholders a clear exit option. The stock may see volatility around the offer window.