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June 09, 2026
To,
The General Manager
BSE Limited,
1st Floor, Phiroze Jeejeebhoy Towers,
Dalal Street, Mumbai – 400001.
[Scrip Code: 540359]
Sub: Announcement pursuant to Regulations 30 read with Schedule III of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (“SEBI LODR Regulations”).
Dear Sir/Madam,
Pursuant to Regulation 30 read with Part-A of schedule III of Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that the Acquirers (Dhiren
Chandulal Shah and Sunil Chinubhai Shah) and PAC (Dhairya Dhiren Shah, Hiren Pravin Doshi, Sheetal Hiren Doshi,
Nirmal Sunilbhai Shah, Rupa Sunil Shah, Vijay Natvarlal Shiyani, Kamlesh Natvarlal Shiyani, Abhay Chinubhai Shah,
Umang Alkesh Gosalia and Meena Alkesh Gosalia) are seeking to acquire majority voting rights and control of the
Company through combination of (i) Preferential Allotment, (ii) secondary acquisition from the Sellers through Share
Purchase agreement and (iii) acquisition of equity shares in the Open Offer.
The details regarding Share purchase Agreement under Regulation 30 of Listing Regulations read with read with SEBI
Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 updated on January 30, 2026, (“SEBI Circular”) are
enclosed as Annexure I.
The disclosures along with the enclosures shall be made available on the website of the Company at
www.parmaxpharma.com.
This is for your information and records.
Thanking you.
Yours faithfully,
For PARMAX PHARMA LIMITED
Umang A Gosalia
Managing Director
DIN: 05153830
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Annexure I
The details regarding Share purchase Agreement under Regulation 30 of Listing Regulations read with read with SEBI
Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 updated on January 30, 2026, (“SEBI Circular”)
are as follows :-
Sr.no Particulars Description
1. If the listed entity is a party of the
agreement,
(1) details of the counterparties
(including names and relationship
with the listed entity).
Not Applicable
2. If listed entity is not a party to the
agreement, (i) name of the party
entering into such an agreement
and the relationship with the listed
entity; (i) details of the
counterparties to the agreement
(including name and relationship
with the listed entity); (i) date of
entering into the agreement
The parties to the Share Purchase Agreement (“SPA”) are as
follows:
Sellers:
i. Alkesh Mahasukhlal Gopani
ii. Vipul Mahasukhlal Gopani
iii. Pravina Mahasukh Gopani
Purchasers:
Dhiren Chandulal Shah
Dhairya Dhiren Shah
Hiren Pravin Doshi
Sheetal Hiren Doshi
Nirmal Sunil Shah
Sunil Chinubhai Shah
Vijay Natvarlal Shiyani
Kamlesh Natvarlal Shiyani
Sellers are the promoters of the Company and Purchasers are not
related to the Company in any capacity.
3. Purpose of entering into the
agreement
The SPA records the terms and conditions on which the Sellers
have agreed to sell, and the Purchasers has agreed to acquire the
Sale Shares along with the control over the Company.
4. Shareholding, if any, in the entity
with whom the agreement is
executed
Not Applicable
5. Significant terms of the agreement
(in brief)
The sale of Sale Shares under the SPA is executed at a price of
₹35 per equity share. Pursuant to execution of the SPA, the
Purchasers have announced an open offer in accordance with SEBI
(SAST) Regulations. The consummation of the Proposed
Transaction is subject to satisfaction of conditions precedent
(including, but not limited to, receipt of the relevant statutory
approvals).
6. Extent and the nature of impact on
management or control of the
listed entity
Pursuant to the Proposed Transaction, the Purchasers will acquire
control over the Company.
7. Details and quantification of the
restriction or liability imposed
upon the listed entity
Not Applicable
8. Whether, the said parties are
related to promoter/promoter
group / group companies in any
manner. If yes, nature of
relationship
Save and except the Sellers, none of the parties to the SPA form
part of or are related to the promoters/ promoter group/ group
companies of the Company.
9. Whether the transaction would fall Not Applicable
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within related party transactions?
If yes, whether the same is done at
“arm’s length”
10. In case of issuance of shares to the
parties, details of issue price, class
of shares issued
a) Issuance of 31,37,586 (Thirty one lakhs thirty seven thousand
five hundred eighty six) equity shares of the face value of ₹10/-
(Rupee Ten only) each, at an issue price of ₹36.50 (Rupees
Thirty six point five zero) per Subscription Share which
includes a premium of ₹ 26.50 (Rupees Twenty-six point five
zero) per equity share, aggregating to ₹ 11,45,21,889 (Rupees
Eleven crores forty five lakhs twenty-one thousand eight
hundred and eighty nine), not being less than the price as
determined in accordance with the provisions of Chapter V of
the SEBI ICDR Regulations.
b) Issuance of 21,45,145 (Twenty one lakhs forty five thousand
one hundred and forty-five ) convertible warrants each carrying
a right exercisable by the warrant holder to subscribe to one (1)
equity share of the face value of ₹10/- (Rupees Ten only) each
against each Warrant at an issue price ₹ 36.50 (Rupees Thirty-
six point five zero) which includes a premium of ₹ 26.50
(Rupees Twenty-six point five zero) per warrant, aggregating
to ₹ 7,82,97,793 (Rupees Seven crores eighty-two lakhs ninety-
seven thousand seven hundred and ninety three), not being less
than the price as determined in accordance with the provisions
of Chapter V of the SEBI ICDR Regulations, which may be
exercised in one or more tranches during the period
commencing from the date of allotment of the warrants until
expiry of 18 (Eighteen) months from the date of allotment of
the warrants (“Preferential Issue”).
11. Any other disclosures related to
such agreements, viz., details of
nominee on the board of directors
of the listed entity, potential
conflict of interest arising out of
such agreements, etc.
Upon completion of the Proposed Transaction, the board of the
Company shall be reconstituted.
--$--
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