Company and Document Details
EGM Details
- Meeting Date: Thursday, July 2, 2026
- Time: 11:30 AM IST
- Mode: Video Conferencing/Other Audio-Visual Means
- Cut-off Date for E-voting: June 25, 2026
- Remote e-Voting Period: June 29, 2026 (9:00 AM) to July 1, 2026 (5:00 PM)
- Notice Sent: Electronically to shareholders registered as of June 5, 2026
Agenda Items
ITEM NO. 1: Increase in Authorised Share Capital and Alteration of MOA (Ordinary Resolution)
- Current Authorised Capital: ₹6,00,00,000 divided into 60,00,000 equity shares of ₹10 each
- Proposed Authorised Capital: ₹10,00,00,000 divided into 1,00,00,000 equity shares of ₹10 each
- Increase: Additional 40,00,000 equity shares of ₹10 each
- Legal Basis: Sections 13, 61, and 64 of Companies Act, 2013
- Clause V of MOA to be amended to reflect new capital structure
ITEM NO. 2: Adoption of New Articles of Association (Special Resolution)
- Replacement of existing AOA with new set based on Table 'F' of Companies Act, 2013
- Legal Basis: Sections 5 and 14 of Companies Act, 2013
- New AOA available for inspection at registered office
ITEM NO. 3: Preferential Issue of Equity Shares (Special Resolution)
- Securities: 31,37,586 equity shares
- Face Value: ₹10 per share
- Issue Price: ₹36.50 per share (₹10 face value + ₹26.50 premium)
- Total Consideration: ₹11,45,21,889
- Allottees: 14 individuals from non-promoter category
- Relevant Date for Pricing: June 2, 2026
- Floor Price: ₹36.33 as per ICDR Regulations
- Fair Value: ₹36.33 per share as per valuation report dated June 8, 2026 by A H Dedhia & Associates (IBBI Reg No: IBBI/RV/07/2021/13796)
ITEM NO. 4: Preferential Issue of Convertible Warrants (Special Resolution)
- Securities: 21,45,145 convertible warrants
- Face Value: ₹10 per warrant
- Issue Price: ₹36.50 per warrant (₹10 face value + ₹26.50 premium)
- Total Consideration: ₹7,82,97,793
- Conversion: Each warrant convertible into 1 equity share within 18 months from allotment
- Initial Payment: 25% of issue price (₹1,95,74,449) payable upfront
- Balance Payment: 75% payable at time of conversion
- Same Allottees: 14 individuals from non-promoter category
- Same Pricing Parameters: Relevant date June 2, 2026, floor price ₹36.33
Allottee Details for Preferential Issue
Equity Shares Allotment (Item 3):
| Name | Type | Shares | Amount (₹) | Current Status | Proposed Status |
| Nirmal Sunilbhai Shah | Individual | 1,64,832 | 60,16,368 | Non-Promoter Public | Promoter Group |
| Dhairya Dhiren Shah | Individual | 1,20,838 | 44,10,587 | Non-Promoter Public | Promoter Group |
| Rupa Sunil Shah | Individual | 69,206 | 25,26,019 | Non-Promoter Public | Promoter Group |
| Vijaykumar Natvarlal Shiyani | Individual | 1,61,117 | 58,80,771 | Non-Promoter Public | Promoter Group |
| Kamlesh Natvarlal Shiyani | Individual | 1,61,974 | 59,12,051 | Non-Promoter Public | Promoter Group |
| Abhay Chinubhai Shah | Individual | 3,22,235 | 1,17,61,578 | Non-Promoter Public | Promoter Group |
| Urvi Manish Kothari | Individual | 2,85,714 | 1,04,28,561 | Non-Promoter Public | Public |
| Mili Saumil Shah | Individual | 2,85,714 | 1,04,28,561 | Non-Promoter Public | Public |
| Fredun Nariman Medhora | Individual | 2,85,714 | 1,04,28,561 | Non-Promoter Public | Public |
| Total | | 31,37,586 | 11,45,21,889 | | |
Warrants Allotment (Item 4):
| Name | Type | Warrants | Amount (₹) | Current Status | Proposed Status |
| Dhiren Chandulal Shah | Individual | 5,35,715 | 1,95,53,598 | Non-Promoter Public | Promoter |
| Sunil Chinubhai Shah | Individual | 81,494 | 29,74,531 | Non-Promoter Public | Promoter |
| Hiren Pravin Doshi | Individual | 1,92,857 | 70,39,281 | Non-Promoter Public | Promoter |
| Sheetal Hiren Doshi | Individual | 21,429 | 7,82,159 | Non-Promoter Public | Promoter |
| Nirmal Sunilbhai Shah | Individual | 1,44,715 | 52,82,098 | Non-Promoter Public | Promoter Group |
| Dhairya Dhiren Shah | Individual | 1,07,143 | 39,10,720 | Non-Promoter Public | Promoter Group |
| Rupa Sunil Shah | Individual | 61,363 | 22,39,750 | Non-Promoter Public | Promoter Group |
| Vijaykumar Natvarlal Shiyani | Individual | 1,42,857 | 52,14,281 | Non-Promoter Public | Promoter Group |
| Kamlesh Natvarlal Shiyani | Individual | 1,43,286 | 52,29,939 | Non-Promoter Public | Promoter Group |
| Abhay Chinubhai Shah | Individual | 2,85,715 | 1,04,28,598 | Non-Promoter Public | Promoter Group |
| Urvi Manish Kothari | Individual | 1,42,857 | 52,14,281 | Non-Promoter Public | Public |
| Mili Saumil Shah | Individual | 1,42,857 | 52,14,281 | Non-Promoter Public | Public |
| Fredun Nariman Medhora | Individual | 1,42,857 | 52,14,281 | Non-Promoter Public | Public |
| Total | | 21,45,145 | 7,82,97,793 | | |
Change in Control Implications
- Acquirers: Dhiren Chandulal Shah and Sunil Chinubhai Shah
- PACs (Persons Acting in Concert): 9 individuals including Umang Alkesh Gosalia
- Trigger: Preferential issue along with share purchase agreement will result in acquisition of more than 26% of expanded voting capital
- Mandatory Open Offer: Required under SEBI SAST Regulations for up to 23,46,250 equity shares
- Public Announcement: Made on June 8, 2026 by Fedex Securities Private Limited
- New Promoters: Acquirers and PACs will become promoters post-transaction
- Existing Promoters: Alkesh Mahasukhlal Gopani, Vipul Mahasukhlal Gopani and Pravina Mahasukh Gopani will cease to be promoters
Current Capital Structure
- Paid-up Capital: ₹3,74,13,000
- Number of Shares: 37,41,300 equity shares of ₹10 each
- Promoter Holding: 11,52,450 shares (30.80%)
- Public Holding: 25,88,850 shares (69.19%)
Post-Issue Capital Structure (Assuming Full Conversion)
- Total Equity Shares: 90,24,031
- Promoter Group Holding: 58,64,268 shares (64.99%)
- Public Holding: 31,59,763 shares (35.01%)
Utilization of Proceeds
- Total Funds Raised: ₹19,28,19,682
- Working Capital Requirement: ₹16,38,96,730 (85% of proceeds)
- General Corporate Purposes: ₹2,89,22,952 (15% of proceeds)
- Utilization Timeline: 12-18 months for working capital, 6 months for general purposes
- Interim Use: Bank deposits, fixed deposits, inter-corporate deposits, or debt instruments
Lock-in Requirements
- Pre-preferential shareholding of allottees subject to lock-in as per ICDR Regulations
- Subscription shares and equity shares from warrant conversion subject to lock-in as per ICDR Regulations
Voting Arrangements
- Scrutinizer: CS Shreyans Jain of Shreyans Jain & Co.
- E-voting Provider: Purva Sharegistry India Pvt. Ltd.
- Result Declaration: Within 2 working days post-EGM on company website and stock exchange
Document Availability
- Notice available on company website www.parmaxpharma.com
- Valuation report and company secretary certificate available for inspection at registered office
- Electronic inspection available upon request to cs@parmaxpharma.com
#Tags: #ParmaxPharma #PreferentialIssue #EGM #SEBIDisclosure #CapitalRaising #Neutral