Key Quantitative Figures

  • Share Purchase Agreement executed at ₹35 per equity share
  • Total consideration for 43,210,825 shares: ₹15,12,37,875 (Rupees Fifteen crores twelve lakhs thirty-seven thousand eight hundred seventy-five)
  • Preferential allotment of 32,45,145 equity shares at ₹36.50 per share (including premium of ₹26.50), aggregating to ₹11,85,21,889
  • Preferential allotment of 21,45,145 convertible warrants at ₹36.50 per warrant (including premium of ₹26.50), aggregating to ₹7,82,97,793
  • Warrants exercisable within 18 months from allotment date

Parties Involved

Sellers (Promoters):

  • Alkesh Mahasukhlal Gopani
  • Vipul Mahasukhlal Gopani
  • Pravina Mahasukh Gopani

Purchasers (Acquirers):

  • Dhiren Chandulal Shah
  • Dhairya Dhiren Shah
  • Hiren Pravin Doshi
  • Sheetal Hiren Doshi
  • Nirmal Sunil Shah
  • Sunil Chinubhai Shah
  • Vijay Natvarlal Shiyani
  • Kamlesh Natvarlal Shiyani
  • Abhay Chinubhai Shah
  • Umang Alkesh Gosalia
  • Meena Alkesh Gosalia

Company Representative:

  • Umang Alkesh Gosalia, Managing Director (DIN: 05153830)

Purpose and Rationale

The transaction is designed to transfer majority voting rights and control of Parmax Pharma Limited from the current promoters to the acquirers through a three-pronged approach: (i) preferential allotment, (ii) secondary acquisition from sellers through share purchase agreement, and (iii) acquisition of equity shares in an open offer announced in accordance with SEBI (SAST) Regulations.

Conditions and Approvals

The consummation of the proposed transaction is subject to satisfaction of conditions precedent, including receipt of relevant statutory approvals.

Impact on Management and Control

Upon completion of the proposed transaction, the purchasers will acquire control over the company and the board of directors shall be reconstituted.

Relationship Disclosure

Except for the sellers (who are promoters of the company), none of the parties to the share purchase agreement form part of or are related to the promoters/promoter group/group companies of the company.

Additional Information

The complete disclosures and enclosures are available on the company's website at www.parmaxpharma.com.