Ishan Dyes and Chemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on July 16, 2025.
ISHANCH · price
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Ishan Dyes and Chemicals' board, at its July 16, 2025 meeting, approved raising up to Rs. 63 Crores via a preferential issue at Rs. 63 per share. This includes 45,84,872 convertible warrants to promoters (Piyushbhai Natvarlal Patel and Anilaben Piyushbhai Patel) worth ~Rs. 28.88 Crores, and 54,15,128 fully paid-up equity shares to 27 non-promoter/public allottees worth ~Rs. 34.12 Crores. The board also approved increasing the Authorised Share Capital from Rs. 25 Crores to Rs. 35 Crores (to 3.5 Crore equity shares of Rs. 10 each), requiring amendments to the Memorandum of Association. Warrants carry a 25% upfront payment with the balance due within 18 months on conversion. An EGM is scheduled for August 14, 2025, to seek shareholder approval for these proposals.
This is a significant capital raise (~Rs. 63 Crores) that will dilute existing shareholders; promoter commitment signals confidence, but share count expansion and the Rs. 63 issue price set a near-term valuation benchmark for the stock.