Parmax Pharma Ltd — Important, 01-01-1970: Company Update

An open offer for Parmax Pharma Limited shares has been launched by Dhiren Chandulal Shah and Sunil Chinubhai Shah, along with other individuals, to acquire up to 26% of the company's expanded voting capital at ₹42.80 per share, for a total of ₹10.04 Cr. This follows prior agreements to acquire shares from existing promoters at ₹35.00 per share (₹4.03 Cr) and a preferential issue of equity shares and warrants to the acquirers and associates at ₹36.50 per share/warrant (total ₹14.59 Cr). The new promoter group aims for a 94.34% stake, intending to grow the existing pharmaceutical business. The company has reported losses and negative net worth in recent fiscal years. Independent directors will provide their assessment of the offer.