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Dhiren and Sunil Shah, with allied investors, have launched a mandatory open offer for 26% of Parmax Pharma Limited (PPL) at ₹42.80 per share, valuing this at ₹10.04 Crore. This move follows their prior acquisition of a 12.77% stake for ₹4.03 Crore and PPL's board approving a preferential issue of shares and warrants to the group for ₹14.59 Crore. Post-offer, the group will control 94.34% of PPL, aiming to grow its API and drug intermediate business. They are committed to meeting public shareholding norms, with ₹5.20 Crore secured in escrow for the offer.