Parmax Pharma Approves ₹192.8 Cr Preferential Issue

Parmax Pharma Limited's Board of Directors has approved a significant preferential issue to raise up to ₹192.82 crore. This includes the issuance of 31,37,586 equity shares at ₹36.50 per share and 21,45,145 convertible warrants at the same price. The funds will be raised from non-promoter group individuals. The company also approved an increase in its authorized capital from ₹6 crore to ₹10 crore and adopted new Articles of Association. This move is part of a larger strategy by acquirers to gain majority control of the company.