Ishan Dyes and Chemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on March 28, 2026.
ISHANCH · price
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Ishan Dyes and Chemicals has allotted 7,40,700 fully paid-up equity shares to promoter Piyushbhai Natvarlal Patel upon conversion of an equal number of convertible warrants. The warrants were originally issued on a preferential basis on September 20, 2025 at ₹63 per share, with 25% (₹15.75) paid upfront. The promoter has now paid the balance 75% (₹47.25 per warrant), totalling about ₹3.50 crore. As a result, the company's paid-up equity share capital has risen from ₹26.56 crore (2,65,63,697 shares) to ₹27.30 crore (2,73,04,397 shares). Of the 45,84,872 warrants originally issued, 34,20,892 remain outstanding and can still be converted within 18 months of the original allotment date.
This is a routine conversion of previously issued warrants by a promoter, which increases the share count and dilutes existing shareholders marginally (about 2.8% expansion of share capital). It signals continued promoter confidence and commitment, while bringing in an additional ~₹3.5 crore to the company. Remaining unconverted warrants could lead to further share dilution if exercised.