Ishan Dyes and Chemicals Limited has submitted the Exchange a copy of Srutinizers report of Extraordinary General Meeting held on August 14, 2025. Further, the company has informed the Exchange regarding voting results.
ISHANCH · price
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Ishan Dyes and Chemicals held an Extraordinary General Meeting (EGM) on August 14, 2025, via video conferencing, where shareholders approved all three special resolutions. Resolution 1 was to increase the authorized share capital of the company and amend the Memorandum of Association. Resolution 2 approved the issuance of up to 45,84,872 convertible equity warrants at Rs. 63 each (including Rs. 53 premium) to promoters on a preferential basis, aggregating up to Rs. 28.88 crores. Resolution 3 approved the issuance of up to 54,15,128 fully paid-up equity shares at Rs. 63 each to non-promoters/public on a preferential basis, aggregating up to Rs. 34.12 crores. All three resolutions passed with 99.30% of polled votes in favor (only 0.70% against), with no invalid votes. The combined preferential issue could potentially raise approximately Rs. 63 crores for the company at Rs. 63 per share.
The company is set to raise around Rs. 63 crores through a preferential allotment, which will lead to dilution of existing public shareholders but also bring fresh capital. Promoters participating in the warrant issue signals their confidence, though future conversion of warrants could result in further dilution. Public shareholders should monitor the allotment process and use of funds for future growth.