Ishan Dyes and Chemicals Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
ISHANCH · price
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Ishan Dyes and Chemicals Limited's board has approved increasing the Authorised Share Capital from Rs. 25 crore to Rs. 35 crore (from 2.5 crore to 3.5 crore equity shares of Rs. 10 each) and amending the Capital Clause of the MOA accordingly. The company plans to raise up to Rs. 63 crore through a preferential issue: Rs. 28.88 crore via 45,84,872 convertible equity warrants to two promoter allottees, and Rs. 34.12 crore via 54,15,128 fully paid-up equity shares to 27 non-promoter/public allottees, both priced at Rs. 63 per share/warrant (including Rs. 53 premium). The warrants are convertible into one equity share each within 18 months of allotment. An EGM has been scheduled for August 14, 2025, to seek shareholder approval, with July 11, 2025, fixed as the cut-off date for e-voting eligibility.
The preferential issue will dilute existing shareholders by issuing new shares and warrants at Rs. 63 per share, though promoter participation signals confidence in the company's prospects. Shareholders should watch for the EGM outcome on August 14, 2025, as approval is required for both the capital raise and the MOA amendment.