Ishan Dyes and Chemicals Limited has informed the Exchange regarding allotment of 423280 Equity Shares pursuant to Preferential Issue at its meeting held on March 21, 2026
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Ishan Dyes and Chemicals has allotted 4,23,280 equity shares to promoter Anilaben Piyushbhai Patel upon her exercising the conversion of warrants held under a preferential issue. The shares were issued at ₹63 each (face value ₹10 + premium of ₹53), and the company received ₹1.99 crore as the balance 75% payment on these warrants. The promoter had originally been allotted 22,92,436 warrants in September 2025 at ₹63 each with only 25% paid up; 41,61,592 warrants still remain outstanding for conversion within 18 months. Paid-up equity capital has increased from ₹26.14 crore (2,61,40,417 shares) to ₹26.56 crore (2,65,63,697 shares). The board also approved a change in internal auditor from K. D. Dave & Co to H D Panchal & Co, and a postal ballot notice for re-appointment of two directors.
Minor dilution of about 1.6% in existing shareholding, with capital infusion of ~₹2 crore from the promoter group, signalling promoter confidence. Further dilution is possible as 41.6 lakh warrants are still pending conversion at ₹63 per share, which could weigh on the stock if exercised.