Diamines & Chemicals Limited Converts 2,69,402 Warrants into Equity Shares

Diamines & chemicals Limited has successfully converted 2,69,402 warrants into an equal number of equity shares following board approval on March 24, 2026. The conversion was executed upon receipt of the balance subscription amount from allottees, marking a significant milestone in the company's capital restructuring initiative.

Warrant Conversion Details

The board of directors approved the conversion after receiving Rs. 11,15,32,428 from allottees at Rs. 414 per warrant, representing 75% of the issue price. This conversion stems from the original allotment of 9,06,390 warrants on October 01, 2024, issued at Rs. 138 each with a total value of Rs. 12,50,81,820.

Parameter	Details
Warrants Converted	2,69,402
Conversion Price	Rs. 414 per warrant
Total Amount Received	Rs. 11,15,32,428
Face Value per Share	Rs. 10
Issue Price per Warrant	Rs. 552

Allottee Distribution

The conversion involved eight allottees, comprising seven promoter entities and one non-promoter investor. The allocation demonstrates significant promoter participation in the warrant conversion process.

Allottee	Category	Warrants Held	Amount Received (Rs.)	Shares Allotted	Pending Warrants
Amit Mahendrakumar Mehta	Promoter	1,42,920	2,95,84,440	71,460	71,460
Cherry A Mehta	Promoter	1,35,164	2,79,78,948	67,582	67,582
Mohak Amit Mehta	Promoter	81,092	1,67,86,044	40,546	40,546
Harsh Amit Mehta	Promoter	73,632	1,52,41,824	36,816	36,816
S Amit Speciality Chemicals Pvt Ltd	Promoter	36,500	75,55,500	18,250	18,250
Perfo Chem India Pvt Ltd	Promoter	32,391	67,05,144	16,196	16,195
Finorga (India) Pvt Ltd	Promoter	25,503	52,79,328	12,752	12,751
Godiawala Tanmay Naimish	Non-Promoter	12,300	24,01,200	5,800	6,500
Total		5,39,502	11,15,32,428	2,69,402	2,70,100

Impact on Share Capital

The warrant conversion resulted in a substantial increase in the company's equity base. The paid-up share capital expanded from Rs. 9,78,39,900 to Rs. 10,05,33,920, reflecting the addition of 2,69,402 new equity shares.

Metric	Before Conversion	After Conversion
Paid-up Capital	Rs. 9,78,39,900	Rs. 10,05,33,920
Number of Shares	97,83,990	1,00,53,392
Face Value per Share	Rs. 10	Rs. 10

Remaining Warrants and Timeline

Following this conversion, 6,36,988 warrants remain pending for conversion. These warrants can be converted into equity shares upon payment of the balance 75% of the warrant amounts within 18 months from the original allotment date of October 01, 2024. The company has specified that failure to pay the balance amount by the due date will result in forfeiture of the 25% warrant subscription money already paid, with the warrants being cancelled and all associated rights lapsing.

The newly allotted equity shares will rank pari passu with existing equity shares, subject to completion of necessary corporate actions and receipt of listing and trading approvals from the stock exchanges.

Diamines & Chemicals Limited has announced that its board of directors will convene on March 24, 2026, to deliberate on the conversion of warrants into equity shares. The meeting has been scheduled in compliance with regulatory requirements under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015.

Meeting Details and Purpose

The board meeting is specifically convened to consider and approve the conversion of warrants into equity shares of the company. This conversion will be executed according to the terms established during the initial warrant issuance and will accommodate the exercise of options by warrant holders on a preferential basis.

Meeting Parameter:	Details
Date:	Tuesday, March 24, 2026
Primary Agenda:	Conversion of Warrants into Equity Shares
Basis:	Preferential allocation to warrant holders
Regulatory Framework:	SEBI (LODR) Regulations 2015

Regulatory Compliance

The company has formally communicated this development to both major stock exchanges where its shares are listed. The notification was sent to BSE Limited and National Stock Exchange of India Limited on March 17, 2026, ensuring full compliance with Regulation 29 and Chapter IV of the SEBI (LODR) Regulations 2015.

Corporate Communication

The official notice was signed by Hemaxi Pawar, Company Secretary (Membership No.: A52581), and digitally authenticated on March 17, 2026. The communication emphasizes the company's commitment to maintaining transparency with regulatory authorities and stakeholders regarding significant corporate actions.

The board meeting may also address other business matters as deemed necessary by the directors, though the primary focus remains on the warrant conversion process.