Ishan Dyes and Chemicals Limited has informed the Exchange about increase in Authorised Capital
ISHANCH · price
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Ishan Dyes and Chemicals' board has approved raising the Authorised Share Capital from Rs. 25 Crore to Rs. 35 Crore (an addition of 1 crore equity shares of Rs. 10 face value each). The company plans to raise up to Rs. 63 Crore through a preferential issue: (1) 45,84,872 convertible warrants to two promoter allottees (Piyushbhai Patel and Anilaben Patel) at Rs. 63 per warrant, aggregating to about Rs. 28.88 Crore, convertible into one equity share each within 18 months, with 25% payable upfront and 75% on conversion; and (2) 54,15,128 fully paid-up equity shares to 27 non-promoter/public allottees at Rs. 63 per share (including Rs. 53 premium), aggregating to about Rs. 34.12 Crore. The issue price of Rs. 63 is based on the floor price determined under SEBI ICDR Regulations. Shareholder approval will be sought at an EGM scheduled for August 14, 2025, with July 11, 2025, fixed as the cut-off date for e-voting eligibility.
Existing shareholders will see equity dilution from the new shares and potential further dilution if the promoter warrants are converted within 18 months. Promoter participation through warrants signals insider confidence but also increases the promoter group's eventual shareholding. The Rs. 63 issue price will serve as a near-term reference price, and approval at the August 14 EGM is a key milestone to watch.