The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Piyushbhai Patel & PACs
ISHANCH · price
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Promoter Piyushbhai Natvarlal Patel converted 7,40,700 convertible equity warrants into equity shares of Ishan Dyes and Chemicals on 28th March 2026, as part of an earlier preferential allotment approved by the board. His personal holding rose from 20,19,593 shares to 27,60,293 shares. The promoter group's total fully diluted holding, including PACs (Anilaben, Shrinal, Mirali and Marutbhai Patel), stands at 1,09,61,702 shares plus 34,20,892 outstanding warrants, which equals 46.81% of the total diluted share capital. The company's share capital increased from Rs. 26.56 crore to Rs. 27.30 crore, with total diluted capital at Rs. 30.73 crore.
The promoter group remains comfortably below the 50% open offer trigger threshold, so no mandatory takeover bid is required. The conversion shows promoters are following through on their earlier preferential allotment commitment, signalling continued confidence, though their holding has not crossed the 50% mark despite this acquisition.