Ishan Dyes and Chemicals Limited has informed the Exchange regarding Proceedings of 01/2025-26 Extraordinary General Meeting held on August 14, 2025
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Ishan Dyes and Chemicals held its first Extraordinary General Meeting (EOGM) of FY 2025-26 on August 14, 2025, via video conferencing, chaired by Whole-Time Director Mr. Shrinal P. Patel. The meeting considered three special resolutions: (1) increasing the company's authorized share capital, (2) issuing 45,84,872 convertible equity warrants to promoters at Rs 63 each (including Rs 53 premium), aggregating about Rs 28.88 crores, and (3) issuing 54,15,128 fully paid-up equity shares to non-promoters/public at the same Rs 63 price, aggregating about Rs 34.12 crores. Together, the preferential issue is sized at roughly Rs 63 crores. Remote e-voting was open from August 11 to August 13, 2025, and the meeting itself ran for just 12 minutes. The final voting results and scrutinizer's report are awaited and will be filed with the exchanges later.
If approved, existing public shareholders will face significant dilution as the company raises around Rs 63 crores via a preferential allotment, with promoters also getting convertible warrants that could convert to more shares later. Pending the voting outcome, the stock may see short-term volatility tied to the preferential issue pricing of Rs 63.