Pharmaids Pharmaceuticals Ltd — Updates, 01-01-1970: Company Update

Shankarappa Nagaraja Vinaya Babu and Tumkur Trade Center Private Ltd. (PAC) have initiated an open offer for Pharmaids Pharmaceuticals Ltd., aiming for management control by acquiring 26% of voting capital at ₹ 62.15 per share, totaling ₹ 56.99 crore. The acquirer, PPL's Chairperson, has a ₹ 7 crore loan to the company. Post-offer, existing promoters will reclassify as public shareholders, with a new promoter group, including the acquirer and PAC, holding over 51%. PPL, a pharma and biotech services firm, recently reported a net loss of ₹ 13.51 crore on ₹ 19.45 crore revenue for FY25. This offer ensures public shareholding compliance and marks a significant leadership change.