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Latest filing: 2026-09-28 13:32
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11 announcements match the current filters (relevance ≥ 5).
Parmax Pharma Reports Major Fire Incident at Hadamtala Plant; 2 Employees Injured
Parmax Pharma reported a major fire accident that occurred at approximately 2:00 a.m. on September 28, 2026, at its plant in Hadamtala, Rajkot, Gujarat. The fire has been controlled, but two employees were injured and hospitalised; no fatal casualties were reported. The company stated that the quantum of loss is currently being assessed and confirmed that damages are covered by insurance. Given the company's micro-cap size (Rs 51 Cr market cap) and negative net worth (-Rs 6 Cr), any plant downtime could materially disrupt operations.
Confidence: HIGH
What changedA major fire broke out at Parmax Pharma's Hadamtala manufacturing facility, causing injuries to two staff members and property damage.
Why it mattersManufacturing disruptions at the primary plant could affect quarterly production and revenue for a financially leveraged company with TTM revenue of just Rs 18 Cr.
Incident Time: 2:00 a.m. on September 28, 2026Injuries Reported: 2Fatal Casualties: 0Quantum of Loss: not disclosed
📅 Short termExpect potential operational delays, temporary factory downtime, and inventory write-offs pending insurance survey and claims processing.
📈 Long termProlonged plant disruption could impact revenue turnaround efforts, given negative operating cash flows and negative net worth of Rs -6 Cr.
⚠ Risk flags
- Operational disruption and factory downtime
- Unquantified asset and inventory damage
- Delay or shortfall in insurance claim settlement
Key Highlights
Major fire accident occurred at around 2:00 a.m. on September 28, 2026
Incident took place at the plant located in Hadamtala, Rajkot, Gujarat
2 employees were injured and hospitalised; no fatalities reported
Quantum of loss is under assessment, but damages are stated to be covered by insurance
👀 What to Watch
Monitor subsequent exchange disclosures regarding the assessed financial damage, insurance claim settlements, and the operational shutdown or restart timeline of the plant.
Parmax Pharma Allots Shares and Warrants to Raise Up to ₹19.28 Cr on Preferential Basis
Parmax Pharma has approved the allotment of 31,37,586 equity shares at ₹36.50 per share, raising ₹11.45 Cr immediately. The board also allotted 21,45,145 convertible warrants at ₹36.50 each (convertible within 18 months), adding a potential ₹7.83 Cr. The total potential raise of ₹19.28 Cr compares to a market cap of ₹49 Cr (~39%) and TTM revenue of ₹18 Cr (~107%). Several allottees, including Managing Director Umang Gosalia, are shifting to the Promoter/Promoter Group classification.
Confidence: HIGH
What changedBoard executed the allotment of 31.38 lakh equity shares and 21.45 lakh convertible warrants on a preferential basis following in-principle stock exchange approval received on August 21, 2026.
Why it mattersThe ₹11.45 Cr immediate equity infusion provides critical capital to a company with negative net worth (-₹6 Cr) and ₹12 Cr in debt, strengthening its balance sheet.
Equity shares allotted: 31,37,586Immediate equity fundraise: ₹11.45 CrConvertible warrants allotted: 21,45,145Issue price per share/warrant: ₹36.50Immediate fundraise vs TTM revenue: ~63.6%Total potential fundraise vs Market Cap: ~39.3%
📅 Short termPositive for solvency and working capital, though the allotment price of ₹36.50 is at a sharp discount to the current market price of ₹131.20, creating dilution risk.
📈 Long termSignificantly alters the ownership structure and aids turnaround efforts by restoring positive net worth if operational turnaround sustains.
⚠ Risk flags
- Substantial equity dilution at ₹36.50 vs current market price of ₹131.20
- Negative historical net worth (-₹6 Cr) and persistent annual losses prior to Q1 FY27
Key Highlights
Allotted 31,37,586 equity shares at ₹36.50 per share (₹10 face value + ₹26.50 premium), raising ₹11.45 Cr
Allotted 21,45,145 convertible warrants at ₹36.50 per warrant, exercisable within 18 months
Total potential capital infusion stands at ₹19.28 Cr across 14 equity and 13 warrant allottees
Key allottees including Dhiren Chandulal Shah (12.63% post-issue) and MD Umang Gosalia (6.01% post-issue) classified under Promoter/Promoter Group
👀 What to Watch
Track receipt of listing/trading approvals on BSE for the newly allotted shares, and watch for subsequent warrant conversion notices and debt repayment or capex deployments.
Parmax Pharma: Acquirers to Take Over 30.80% Stake and Reclassify as New Promoters
Parmax Pharma has announced a proposed change in promoter classification following an Open Offer and a Share Purchase Agreement dated June 08, 2026. Acquirers Dhiren Chandulal Shah, Sunil Chinubhai Shah, and PACs have agreed to acquire 11,52,450 equity shares (30.80% of equity share capital) from erstwhile promoters Alkesh Gopani, Vipul Gopani, and Pravina Gopani. Upon completion of share transfers and open offer formalities, the incoming acquirers and PACs will be classified as Promoters and Promoter Group, while the selling promoters will be reclassified under the public category.
Confidence: HIGH
What changedFormal intimation to stock exchanges regarding the proposed reclassification of erstwhile promoters to public status and induction of incoming acquirers as new promoters.
Why it mattersA complete change in promoter control brings new management to a financially distressed entity (negative net worth of ₹-6 Cr and TTM PAT of ₹-1 Cr), potentially triggering strategic restructuring.
Shares to be acquired: 11,52,450Stake size: 30.80%SPA Date: June 08, 2026Alkesh Gopani Holding: 17.92%Vipul Gopani Holding: 12.87%
📅 Short termShort-term market sentiment is likely to reflect optimism over leadership change, though regulatory filings and stock exchange approvals for reclassification will take time to conclude.
📈 Long termCrucial for long-term survival and growth; new promoters will need to address the company's negative net worth, debt obligations, and operational turnaround.
⚠ Risk flags
- Turnaround and execution risk under new management
- Company has negative net worth (₹-6 Cr) and ongoing annual operating losses
Key Highlights
Share Purchase Agreement dated June 08, 2026 involves acquisition of 11,52,450 equity shares representing 30.80% stake
Erstwhile promoters selling their entire 30.80% stake: Alkesh Gopani (17.92%), Vipul Gopani (12.87%), and Pravina Gopani (0.02%)
Acquirers (Dhiren Chandulal Shah, Sunil Chinubhai Shah) along with PAC 2 & PAC 9 to be classified as new Promoters
Remaining PACs (PAC 1, 3, 4, 5, 6, 7, 8, and 10) to join the Promoter Group category under Regulation 31A
👀 What to Watch
Track the final closure and settlement of the open offer, subsequent share transfer filings, and any strategic turnaround or capital infusion plans outlined by the incoming management.
Parmax Pharma Gets BSE Nod for ~Rs 19.3 Cr Preferential Issue of Shares and Warrants
Parmax Pharma received in-principle approval from BSE for its proposed preferential issue of up to 31,37,586 equity shares and 21,45,145 convertible warrants at a minimum price of Rs 36.50 each. The total potential capital infusion is approximately Rs 19.28 crore, which exceeds the company's TTM revenue of Rs 18 crore. This capital injection is crucial given the company's negative net worth of Rs -6 crore and debt of Rs 12 crore. However, the issue price of Rs 36.50 represents a steep discount to the current market price of Rs 127.4.
Confidence: HIGH
What changedBSE has granted regulatory in-principle approval for preferential allotment of 52.83 lakh equity shares and warrants.
Why it mattersThe ~Rs 19.28 Cr capital infusion can help repair the negative net worth (Rs -6 Cr) and reduce debt (Rs 12 Cr), although it implies significant equity dilution.
Equity shares to be issued: 31,37,586Warrants to be issued: 21,45,145Minimum issue price: Rs 36.50 per share/warrantTotal potential fundraise: ~Rs 19.28 CrFundraise vs TTM Revenue: ~107%
📅 Short termReceipt of in-principle approval paves the way for formal allotment and cash inflows in the coming weeks.
📈 Long termInfusion of fresh equity capital is structurally vital for stabilizing operations and turning net worth positive, provided operational turnaround follows.
⚠ Risk flags
- Substantial equity dilution for existing shareholders
- Preferential issue price of Rs 36.50 is significantly below current market price of Rs 127.4
Key Highlights
Received BSE in-principle approval dated August 21, 2026 under SEBI LODR Regulation 28(1)
Issuance of 31,37,586 equity shares of face value Rs 10 at not less than Rs 36.50 each (min ~Rs 11.45 Cr)
Issuance of 21,45,145 convertible warrants at not less than Rs 36.50 each (min ~Rs 7.83 Cr)
Total potential fundraise of ~Rs 19.28 Cr compared to market cap of Rs 48 Cr and TTM revenue of Rs 18 Cr
👀 What to Watch
Track the completion of allotment, receipt of funds, and subsequent listing approval, alongside monitor how proceeds are deployed toward debt reduction or working capital.
Q1 PAT Turns Positive to Rs 2.20 Cr on Rs 8.22 Cr Revenue; Board Reconstituted with New Chairman
Parmax Pharma reported Q1 FY27 revenue from operations of Rs 8.22 Cr (Rs 82,209.52 thousand), up 323% YoY from Rs 1.94 Cr in Q1 FY26 and representing ~68% of its entire FY26 revenue. Net profit turned positive to Rs 2.20 Cr (EPS Rs 5.88) compared to a loss of Rs 0.76 Cr in the year-ago quarter, heavily aided by a one-off insurance claim settlement of Rs 2.07 Cr. The company also reconstituted its board, appointing Mr. Dhiren Chandulal Shah as Chairman and Additional Director alongside other director appointments.
Confidence: HIGH
What changedReported strong Q1 operational turnaround with Rs 8.22 Cr revenue and appointed a new Chairman alongside three other directors.
Why it mattersTop-line expansion indicates operational recovery, though bottom-line profit was heavily boosted by non-recurring insurance proceeds; the new leadership team must sustain operational stability to address negative net worth (-Rs 6 Cr).
Revenue from operations (Q1): Rs 82,209.52 thousandNet Profit (Q1): Rs 21,994.93 thousandInsurance claim settlement: Rs 2.07 CroreBasic EPS (Q1): Rs 5.88Q1 Revenue vs FY26 Revenue: ~68%
📅 Short termMarket may react positively to the substantial top-line surge and headline profit, though gains should be assessed net of the one-off insurance settlement.
📈 Long termLong-term recovery hinges on sustaining core profitability, addressing historical debt (Rs 12 Cr), and reversing negative net worth.
⚠ Risk flags
- One-off insurance settlement of Rs 2.07 Cr accounted for majority of reported Q1 profit.
- Company omitted depreciation on the effluent treatment plant during the quarter.
- Negative net worth of -Rs 6 Cr with elevated historical debt levels.
Key Highlights
Revenue from operations surged 323% YoY to Rs 82,209.52 thousand (Rs 8.22 Cr) vs Rs 19,423.11 thousand in Q1 FY26.
Net profit swung to Rs 21,994.93 thousand (Rs 2.20 Cr) against a net loss of Rs 7,644.98 thousand in Q1 FY26.
Profit was significantly supported by a Rs 2.07 Crore insurance claim settlement recognised under other income.
Basic EPS stood at Rs 5.88 for the quarter compared to negative Rs 2.04 in Q1 FY26.
Appointed Mr. Dhiren Chandulal Shah as Additional Director & Chairman w.e.f. August 14, 2026.
👀 What to Watch
Track core operational margins in upcoming quarters after stripping out the Rs 2.07 Cr one-off insurance gain, and monitor shareholder voting on director appointments at the ensuing AGM.
Q1 Revenue Surges 323% YoY to Rs 8.22 Cr; Net Profit at Rs 2.20 Cr Aided by Insurance Claim
Parmax Pharma reported a sharp top-line turnaround for Q1 ended June 30, 2026, with revenue from operations rising 323% YoY to Rs 8.22 Cr compared to Rs 1.94 Cr in Q1 FY26. Net profit stood at Rs 2.20 Cr against a net loss of Rs 0.76 Cr in the year-ago period, resulting in a quarterly EPS of Rs 5.88. Profitability was significantly boosted by a one-time insurance claim settlement of Rs 2.07 Cr accounted under other income. Concurrently, the company appointed Mr. Dhiren Chandulal Shah as Additional Director and Chairman.
Confidence: HIGH
What changedParmax Pharma reported strong revenue growth and turned profitable in Q1, alongside restructuring its Board of Directors with a new Chairman.
Why it mattersQuarterly sales of Rs 8.22 Cr represent ~45.7% of previous TTM revenue, providing operational scale to a microcap company with historic negative net worth.
Revenue from operations (Q1): Rs 8.22 CrNet Profit (Q1): Rs 2.20 CrInsurance claim in Other Income: Rs 2.07 CrQ1 Revenue vs TTM Revenue: ~45.7%Basic EPS: Rs 5.88
📅 Short termTurnaround in headline revenue and net profitability is likely to be viewed favorably, though gains will be weighed against the non-recurring insurance component.
📈 Long termLong-term viability hinges on sustaining core pharma operating margins and repairing the negative net worth without relying on exceptional items.
⚠ Risk flags
- Net profit of Rs 2.20 Cr is predominantly driven by a non-recurring Rs 2.07 Cr insurance claim settlement
- Auditor notes indicate the company did not charge depreciation on the effluent treatment plant during the quarter
- Balance sheet context shows negative net worth (-Rs 6 Cr)
Key Highlights
Revenue from operations jumped 323% YoY to Rs 8.22 Cr (82,209.52 thousand) from Rs 1.94 Cr in Q1 FY26
Net profit turned positive to Rs 2.20 Cr (21,994.93 thousand) compared to a loss of Rs 0.76 Cr in Q1 FY26
Other income of Rs 2.08 Cr includes a one-off insurance settlement of Rs 2.07 Cr
Appointed Mr. Dhiren Chandulal Shah as Additional Director & Non-Executive Chairman effective August 14, 2026
👀 What to Watch
Monitor whether quarterly revenue run-rates stay above Rs 8 Cr in future quarters and assess core operational EBITDA excluding non-recurring insurance receipts.
Q1 Revenue Jumps to ₹8.22 Cr; Net Profit Turns to ₹2.20 Cr Aided by ₹2.07 Cr Insurance Claim
Parmax Pharma reported standalone revenue from operations of ₹8.22 crore for the quarter ended June 30, 2026, compared to ₹1.94 crore in the year-ago quarter. Net profit swung to ₹2.20 crore against a net loss of ₹0.76 crore in Q1 FY26, substantially supported by ₹2.08 crore in other income (primarily a ₹2.07 crore insurance claim settlement). The company also announced major board restructuring, including the appointment of Mr. Dhiren Chandulal Shah as Chairman and Additional Director.
Confidence: HIGH
What changedReported Q1 FY27 financial turnaround with ~4.2x YoY revenue jump, alongside the appointment of a new Non-Executive Chairman and independent directors.
Why it mattersThe company returned to profitability after multi-quarter losses, although operational profit before the one-off insurance settlement was modest at ~₹0.12 crore.
Revenue from operations (Q1): ₹82,209.52 thousandNet profit (Q1): ₹21,994.93 thousandInsurance claim in Other Income: ₹2.07 CroreQ1 Revenue vs TTM Revenue: ~45.7%Basic EPS: ₹5.88
📅 Short termTurnaround to quarterly profitability and significant YoY top-line growth may support sentiment, though investors will discount the one-off insurance gain.
📈 Long termStructural recovery hinges on sustained operational scale and margin improvement given historical negative net worth (-₹6 Cr) and high leverage.
⚠ Risk flags
- Profits heavily driven by one-off insurance settlement of ₹2.07 crore
- Depreciation was not charged on effluent treatment plant during the quarter (Note 5)
- Negative net worth and high debt-to-equity ratio
Key Highlights
Revenue from operations grew to ₹82,209.52 thousand (₹8.22 crore) from ₹19,423.11 thousand (₹1.94 crore) in Q1 FY26
Net profit turned positive at ₹21,994.93 thousand (₹2.20 crore) compared to a loss of ₹7,644.98 thousand (₹0.76 crore) in Q1 FY26
Other income included an exceptional insurance claim settlement of ₹2.07 crore
Basic EPS for the quarter reached ₹5.88 vs -₹2.04 in the corresponding previous quarter
Appointed Mr. Dhiren Chandulal Shah as Non-Executive Chairman and reconstituted the board
👀 What to Watch
Track whether core pharmaceutical revenue run-rate sustains in subsequent quarters without the support of one-off insurance receipts, and observe resolution of the uncharged depreciation on the effluent treatment plant.
58.01% Stake: Sunil Shah & Others Acquire 11.52 Lakh Shares in Parmax Pharma
A group of acquirers led by Dhiren Chandulal Shah and Sunil Chinubhai Shah has completed the acquisition of 11,52,450 equity shares (approx. 30.8% stake) at Rs 35.00 per share. This off-market transaction, executed on August 13, 2026, follows a Share Purchase Agreement dated June 08, 2026. Post-acquisition, the total shareholding of the acquirer group has increased from 27.20% to 58.01%, marking a formal change in control. The acquisition price of Rs 35 is significantly lower than the current market price of Rs 113.2, reflecting the distressed financial state of the company.
Confidence: HIGH
What changedThe majority ownership and control of Parmax Pharma have shifted to a new promoter group (Shah and associates), who now hold 58.01% of the equity.
Why it mattersFor a micro-cap company with a market cap of only Rs 42 Cr and negative net worth, a change in control is a major event that could potentially lead to a business turnaround or restructuring.
Shares Acquired: 11,52,450Acquisition Price: Rs 35.00Post-Acquisition Stake: 58.01%Deal Value vs TTM Revenue: ~33.3%Current Market Price: Rs 113.2
📅 Short termThe stock has seen a massive 263% return in 3 months; the completion of the takeover at a lower price (Rs 35) may lead to price consolidation or volatility as the market assesses the new leadership.
📈 Long termThe long-term outlook depends entirely on the new promoters' ability to reverse the consistent losses (FY26 PAT of Rs -4.16 Cr) and manage the Rs 12 Cr debt on a negative net worth base.
⚠ Risk flags
- Negative net worth of Rs -6 Cr
- Significant gap between acquisition price (Rs 35) and market price (Rs 113.2)
- High debt-to-equity ratio due to eroded capital
Key Highlights
Acquisition of 11,52,450 equity shares completed on August 13, 2026
Purchase price fixed at Rs 35.00 per share, totaling approximately Rs 4.03 Cr
Acquirer group's total stake increased from 27.20% to 58.01% of the company
Transaction executed via off-market mode from the Gopani family (Sellers)
Acquisition follows the Letter of Offer dated July 21, 2026, as per SEBI SAST regulations
👀 What to Watch
Monitor the new management's plan to address the company's negative net worth of Rs -6 Cr and operational losses. Investors should watch for any capital infusion or strategic shifts aimed at improving the -29.6% operating margins.
26% Open Offer for Parmax Pharma: Pre-Offer Advertisement Published by Acquirers
Acquirers Dhiren Chandulal Shah and Sunil Chinubhai Shah, along with 10 Persons Acting in Concert (PACs), have published the pre-offer advertisement for an open offer to acquire up to 23,46,250 shares of Parmax Pharma. This represents 26.00% of the expanded voting share capital. The company is currently in a precarious financial position with a negative net worth of ₹6 Cr and a TTM loss of ₹4 Cr. This open offer is a critical step in a potential change of control or significant stake consolidation.
Confidence: HIGH
What changedThe open offer process has reached the formal public advertisement stage, signaling the start of the tendering period for public shareholders.
Why it mattersWith the company facing significant financial distress (negative net worth and consistent losses), a change in the controlling group or a major stake acquisition is the most significant event for its potential survival or turnaround.
Shares under Open Offer: 23,46,250Stake Percentage: 26.00%TTM Revenue: ₹12 CrNet Worth: ₹-6 CrDebt: ₹12 Cr
📅 Short termThe stock price may align closely with the open offer price in the coming weeks as the tendering period approaches.
📈 Long termThe long-term outlook depends on the acquirers' ability to infuse capital and restructure operations to reverse the current negative OPM of -29.6%.
⚠ Risk flags
- Negative Net Worth
- Consistent Operating Losses
- High Debt-to-Equity ratio
- Potential for low liquidity during the offer period
Key Highlights
Open offer to acquire up to 23,46,250 fully paid-up equity shares
Offer represents 26.00% of the expanded voting share capital of the company
Pre-offer advertisement published on July 29, 2026, across multiple national and regional newspapers
Acquisition led by two primary acquirers and 10 PACs including Dhairya Dhiren Shah and others
Company financials show a TTM revenue of only ₹12 Cr against a debt of ₹12 Cr
👀 What to Watch
Investors should monitor the specific offer price and the letter of offer for details on the acquirers' future plans for the company, given its negative net worth and -83% ROCE.
26% Open Offer: Independent Directors Issue Recommendations for Parmax Pharma
The Committee of Independent Directors (IDC) of Parmax Pharma has published its recommendations regarding the open offer by Dhiren Chandulal Shah and Sunil Chinubhai Shah. The offer seeks to acquire up to 23,46,250 equity shares, representing 26% of the expanded voting share capital. This comes at a time when the company is financially distressed, reporting a negative net worth of Rs -6 Cr and TTM losses of Rs -4 Cr. The stock has seen a significant 231.7% price return over the last three months despite these weak fundamentals.
Confidence: HIGH
What changedThe Independent Directors have formally issued their mandatory regulatory opinion on the fairness of the ongoing open offer.
Why it mattersThis is a critical step in a potential change of control or significant stake increase for a loss-making company with negative equity, which may impact future business strategy.
Offer Size (Shares): 23,46,250Offer Size (%): 26.00%TTM Revenue: Rs 12 CrNet Worth: Rs -6 Cr3-Month Price Return: 231.7%
📅 Short termThe stock may see volatility as investors digest the IDC's view on whether the offer price is reasonable compared to the current market price.
📈 Long termThe outcome of the open offer will determine the new shareholding structure and potential for a turnaround in this currently loss-making pharmaceutical entity.
⚠ Risk flags
- Negative net worth of Rs -6 Cr
- Consistent quarterly losses (Rs -0.58 Cr in Mar 2026)
- High debt of Rs 12 Cr relative to market cap
Key Highlights
Open offer for 23,46,250 equity shares representing 26.00% of the expanded voting share capital
Acquisition initiated by Dhiren Chandulal Shah and Sunil Chinubhai Shah along with 10 PACs
IDC meeting held on July 25, 2026, to approve recommendations for public shareholders
Company currently operates with a negative net worth of Rs -6 Cr and TTM revenue of Rs 12 Cr
Stock price has surged 231.7% in the 3 months preceding this update
👀 What to Watch
Investors should read the full IDC recommendation in the July 27, 2026, editions of Financial Express or Jansatta to evaluate the fairness of the offer price before the tendering period.
₹42.80 Open Offer for 26% Stake in Parmax Pharma by New Acquirers
Dhiren Chandulal Shah and Sunil Chinubhai Shah, along with 10 PACs, have issued a Letter of Offer to acquire a 26% stake in Parmax Pharma. The offer price is set at ₹42.80 per share, which represents a significant ~58% discount to the current market price of ₹102.9. This acquisition follows a proposed preferential issue and targets 23,46,250 shares of the expanded voting capital. The company is currently in financial distress with a negative net worth of ₹-6 Cr and a TTM loss of ₹4 Cr.
Confidence: HIGH
What changedA group of new acquirers has formalized an open offer to take a significant 26% stake in the company following a planned preferential share issuance.
Why it mattersThis represents a potential change in control or significant capital infusion for a micro-cap company that is currently loss-making and has eroded its entire net worth.
Offer Price: ₹42.80Current Market Price: ₹102.9Offer Size (Shares): 23,46,250Offer vs CMP Discount: ~58.4%TTM Net Profit: ₹-4 CrNet Worth: ₹-6 Cr
📅 Short termThe stock may experience volatility as the market reacts to the low offer price versus the recent 213% three-month price surge.
📈 Long termThe long-term outlook depends entirely on the new management's ability to turnaround a company with negative net worth and consistent operating losses.
⚠ Risk flags
- Negative net worth of ₹-6 Cr
- Offer price is at a massive discount to market price
- High debt-to-equity concerns
- Consistent quarterly losses
Key Highlights
Open offer to acquire up to 23,46,250 equity shares representing 26.00% of expanded voting capital
Offer price fixed at ₹42.80 per share, significantly below the CMP of ₹102.9
Company financials show TTM revenue of ₹12 Cr against a debt of ₹12 Cr
Net worth stands at ₹-6 Cr with a negative ROCE of -83.0%
In-principle approval for the linked preferential issue was applied for on June 09, 2026
👀 What to Watch
Monitor the progress of the preferential issue and the official tendering dates; however, the offer price is unlikely to be attractive for retail investors given it is ~58% below current market levels.
