Ishan Dyes and Chemicals Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on 14th August, 2025.
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Ishan Dyes and Chemicals has issued a corrigendum (dated 7th August 2025) to the notice of its Extra-Ordinary General Meeting (EOGM) scheduled for 14th August 2025. The corrigendum fixes several items related to two key business items: corrections to the EGM date, updates to the valuation report and addendum from the registered valuer, clarification on non-applicability of issue price re-computation under SEBI ICDR Regulation 164(2), and a wording change from 'Warrants' to 'Fully Paid-Up Equity Shares' in one clause. The underlying EOGM seeks shareholder approval to (a) increase authorized share capital from Rs 25 crore to Rs 35 crore, (b) issue up to 45,84,872 convertible warrants to promoters (Piyushbhai Patel and Anilaben Patel) at Rs 63 each aggregating up to Rs 28.88 crore, and (c) issue up to 54,15,128 equity shares to non-promoter investors at Rs 63 each aggregating up to Rs 34.12 crore. Total potential fundraise is approximately Rs 63 crore on a preferential basis. The updated notice has been sent to shareholders via email and is also available on the company's website.
The corrigendum is a procedural correction to an already-circulated EGM notice and does not change the core proposals. Shareholders should review the updated notice before the 14th August EGM, as approvals will enable a sizeable preferential issue and warrants issuance that could lead to dilution of existing equity holders.