Ishan Dyes and Chemicals Limited has successfully completed the allotment of 4,23,280 equity shares through the conversion of convertible equity warrants, marking a significant step in its capital expansion plan. The board meeting held on Saturday, 21st March 2026, approved multiple key decisions including changes in internal auditor and director re-appointments.

Equity Share Allotment Details

The company allotted 4,23,280 fully paid-up equity shares of face value ₹10 each at an issue price of ₹63 per share to promoter Anilaben Piyushbhai Patel. The allotment was made following the exercise of convertible equity warrants that were originally issued on 20th September 2025.

The warrant holder paid the remaining 75% of the issue price, having previously paid 25% during the initial warrant subscription. Out of the total 45,84,872 warrants allotted by the company, 41,61,592 warrants remain outstanding for conversion within 18 months from the original allotment date.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up equity share capital. The newly issued shares will rank pari-passu with existing equity shares in all respects.

Internal Auditor Changes

The board accepted the resignation of M/s K. D. Dave & Co, Chartered Accountants (FRN No. 116941W) as internal auditor for the financial year ending 31st March 2026. The resignation was tendered on 21st March 2026 due to pre-occupancies and other professional commitments.

Following the audit committee's recommendation, the board appointed M/s. H D Panchal & Co., Chartered Accountants (FRN: 148232W) as the new internal auditor. The new auditor brings 9 years of experience in assurance and taxation services and is based in Ahmedabad, Gujarat.

Postal Ballot Approval

The board approved a postal ballot notice seeking shareholder approval for the re-appointment of key directors:

• Mr. Shrinal P Patel as Whole-Time Director
• Mr. Piyushbhai Natvarlal Patel as Managing Director

CS Kunal Sharma, Proprietor of Kunal Sharma & Associates (FCS No. 10329 and CP No. 12987), has been appointed as scrutinizer for the postal ballot process through remote e-voting.

Regulatory Compliance

The company will apply for listing and trading approval from stock exchanges for the newly allotted equity shares in due course. All disclosures have been made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 02:00 PM IST and concluded at 03:00 PM IST on Saturday, 21st March 2026.

Ishan Dyes & Chemicals Limited announced significant board decisions during its meeting held on February 3, 2026. The company made key appointments and re-appointments while ensuring compliance with SEBI regulations and strengthening its leadership structure.

Appointment of Company Secretary and Compliance Officer

The board appointed Ms. Vidushi Jain as Whole-Time Company Secretary and Compliance Officer, effective February 3, 2026. Based on the recommendation of the Nomination and Remuneration Committee, Ms. Jain will also serve as Whole-Time Key Managerial Personnel under the Companies Act 2013 and SEBI (LODR) Regulations, 2015.

Ms. Jain is a qualified Company Secretary with Associate Membership number ACS - 79073 and has provided her consent to act in this capacity. The board confirmed she is not disqualified from appointment under relevant regulations.

Re-appointment of Whole-Time Director

The board approved the re-appointment of Mr. Shrinal P Patel (DIN: 02992519) as Whole-Time Director for a five-year term. This appointment is subject to shareholder approval through an Extraordinary General Meeting or Postal Ballot.

Mr. Patel brings over 15 years of industry experience and holds a B.B.A. in Business Finance from University of Florida. He has been on the company's board since 2010 and currently heads marketing, finance, administration, and business operations. He is the son of Mr. Piyushbhai Natvarlal Patel, Managing Director, and husband of Mrs. Mirali Hemantbhai Patel, Executive Director.

Key Managerial Personnel Authorization

Pursuant to Regulation 30(5) of SEBI (LODR) Regulations, 2015, the board authorized Key Managerial Personnel for determining materiality of events and making disclosures to stock exchanges:

Meeting Details and Compliance

The board meeting commenced at 01:30 PM IST and concluded at 02:00 PM IST on February 3, 2026. All decisions were made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that Mr. Shrinal P Patel is not debarred from holding directorship by any SEBI order or other authority, as required by BSE and NSE circulars dated June 20, 2018.

These appointments strengthen the company's governance structure and ensure continued compliance with regulatory requirements while maintaining experienced leadership across key operational areas.