Ishan dyes & chemicals Limited has successfully completed the allotment of 7,40,700 fully paid-up equity shares following the conversion of convertible equity warrants by a promoter. The Board of Directors approved this allotment at their meeting held on Saturday, 28th March 2026, marking a significant step in the company's capital structure enhancement.

Warrant Conversion Details

The allotment follows the exercise of conversion rights by promoter Piyushbhai Natvarlal Patel, who converted 7,40,700 warrants into an equal number of equity shares. The conversion was executed at an issue price of ₹63 per share, with the warrant holder paying the balance 75% of the issue price amounting to ₹3,49,98,075.

Impact on Share Capital

The allotment has resulted in an increase in the company's paid-up equity share capital. The newly issued equity shares carry a face value of ₹10 each and will rank pari-passu with existing equity shares in all respects.

Outstanding Warrants Position

The company had originally allotted 45,84,872 convertible equity warrants on a preferential basis on 20th September 2025. Following this conversion, a substantial number of warrants remain available for future conversion by 20th March 2027.

The remaining warrant holders are entitled to convert their warrants into equity shares by paying the remaining 75% amount within 18 months from the original allotment date of 20th September 2025.

Regulatory Compliance and Board Meeting

The allotment was conducted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company formally communicated the outcome to both BSE Limited (Scrip Code: 531109) and National Stock Exchange of India Limited (Symbol: ISHANCH) as required under regulatory guidelines.

The company will apply for listing and trading approval from stock exchanges for the newly allotted equity shares in due course. The Board meeting was conducted with proper regulatory disclosures being made to ensure transparency and compliance with listing obligations.

Ishan Dyes and Chemicals Limited has completed the allotment of 4,23,280 equity shares through warrant conversion, with promoter Anilaben Piyushbhai Patel subsequently filing mandatory regulatory disclosures under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The board meeting held on 21st March 2026 approved the warrant conversion, while the SEBI disclosure was filed on 23rd March 2026.

Equity Share Allotment and SEBI Compliance

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. Following the allotment, the promoter filed requisite disclosures under Regulation 29(2) with BSE Limited and National Stock Exchange of India Limited.

The warrant conversion involved payment of the remaining 75% of the issue price, with 25% having been paid during initial warrant subscription on 20th September 2025.

Promoter Group Holdings Analysis

The SEBI disclosure reveals comprehensive details of the promoter group's shareholding pattern both before and after the acquisition. The promoter group collectively holds 46.81% on a fully diluted basis.

Impact on Share Capital Structure

The allotment resulted in an increase in the company's paid-up equity share capital, with the newly issued shares ranking pari-passu with existing equity shares.

Board Decisions and Corporate Changes

The board accepted the resignation of M/s K. D. Dave & Co, Chartered Accountants as internal auditor and appointed M/s. H D Panchal & Co., Chartered Accountants as replacement. The new auditor brings 9 years of experience in assurance and taxation services.

Additionally, the board approved a postal ballot notice for re-appointment of Mr. Shrinal P Patel as Whole-Time Director and Mr. Piyushbhai Natvarlal Patel as Managing Director. CS Kunal Sharma has been appointed as scrutinizer for the postal ballot process.

Regulatory Framework

The disclosure was made in compliance with SEBI regulations, with the company applying for listing and trading approval from stock exchanges for the newly allotted shares. The acquisition mode was specified as conversion of convertible equity warrants allotted through preferential allotment, with all formalities completed as per regulatory requirements.