Outcome of the Board Meeting dated 24.03.2026
DIAMINESQ · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The board of Diamines & Chemicals, at its meeting on March 24, 2026, approved converting 2,69,402 warrants into an equal number of equity shares of Rs. 10 face value. Warrant holders paid the remaining 75% of the issue price (Rs. 414 per warrant), bringing in approximately Rs. 11.15 crores to the company. Most of the allottees (7 out of 8) are from the promoter group, indicating promoter participation in the conversion. Following this allotment, the company's paid-up equity capital has risen from Rs. 9.78 crores (97.83 lakh shares) to Rs. 10.05 crores (1.005 crore shares). About 6.37 lakh warrants are still pending conversion and must be exercised within 18 months of the original October 2024 allotment, or they will lapse and the 25% upfront money already paid will be forfeited.
This is a mild dilutive event, increasing the share count by roughly 2.7%. However, since the conversion is being done mainly by the promoter group, it signals promoter confidence and strengthens their holding in the company. Shareholders should note the pending 6.37 lakh warrants as a potential source of further dilution if converted in the future.