Issue of Shares and Warrants on Preferential basis pursuant to SEBI ICDR Regulations
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board of Parmax Pharma has approved raising up to ₹19.28 crore through a preferential issue to 14 non-promoter individuals. This includes 31,37,586 equity shares at ₹36.50 each (aggregating ~₹11.45 crore) and 21,45,145 convertible warrants at the same price (aggregating ~₹7.83 crore), carrying a premium of ₹26.50 per share over face value of ₹10. The company also raised its authorised share capital from ₹6 crore to ₹10 crore to accommodate the issue. The floor price was fixed based on the relevant date of June 2, 2026, with warrant holders paying 25% upfront and 75% on conversion within 18 months. The Board fixed July 2, 2026 as the EGM date to seek shareholder approval, with e-voting from June 29 to July 1, 2026.
Existing shareholders will see significant dilution, with the top acquirer (Dhiren Chandulal Shah) moving from 0% to ~12.63% post-issue, and the acquirer group collectively seeking majority voting rights. This preferential issue will trigger a change of control and is likely to be followed by a mandatory open offer, which may put short-term pressure on the stock price while offering an exit opportunity at a regulated price.