Shine Fashions (India) Limited has issued an important clarification to BSE Limited regarding a share transaction disclosure that appeared under the exchange's listing center on March 26, 2026. The disclosure, filed under Regulation 7(2) read with Regulation 6(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, initially showed a transaction involving disposal of shares by Mr. Anish Anil Mehta, who serves as both Promoter and Director of the company.

Filing Error Details

The company explained that the disclosure was submitted in response to an email from BSE requesting rectification of a discrepancy in an earlier disclosure filed on January 3, 2026. During the rectification process, the company inadvertently uploaded the corrected XBRL file without selecting the "revised" option, creating confusion about the nature and timing of the transaction.

Transaction Clarification

The company has categorically stated that no transaction involving disposal of shares took place on March 26, 2026. The disclosure pertains exclusively to the revision of the earlier filing dated January 3, 2026, which related to a transaction that actually occurred on January 2, 2026. Upon recognizing the filing error, the company promptly uploaded the revised XBRL file with the correct designation.

Stakeholder Communication

In its communication to BSE Limited, Shine Fashions has requested that shareholders and stakeholders not be confused or misled by the initial filing. The company emphasized that the erroneous disclosure was an inadvertent mistake that has been duly rectified through proper channels.

Regulatory Compliance

The clarification demonstrates the company's commitment to maintaining transparency and accuracy in its regulatory filings. The disclosure was signed by Mr. Anish Anil Mehta in his capacity as Managing Director, bearing DIN: 08560153, ensuring proper authorization and accountability for the correction.

Shine Fashions (India) Limited has completed its final warrant conversion and bonus share release, as announced in its board meeting held on March 10, 2026. The company successfully allotted 1,24,000 equity shares through warrant conversion while simultaneously releasing reserved bonus shares to its promoter, marking the completion of all outstanding warrants originally issued in September 2024.

Final Warrant Conversion Details

The board approved the allotment of 1,24,000 equity shares with a face value of Rs. 5.00 each upon conversion of the remaining warrants. The conversion was executed at an issue price of Rs. 207.00 per share, including a premium of Rs. 202.00 each, in accordance with SEBI ICDR Regulations pricing guidelines.

Bonus Share Release

Concurrently, the company released 8,68,000 reserved bonus shares in the proportion of 7:1, meaning 7 new fully paid-up equity shares of Rs. 5.00 each for every 1 existing fully paid-up equity share. These bonus shares were reserved for the allottee based on the record date of July 25, 2025.

Updated Share Capital Structure

The latest transactions resulted in a significant increase in the company's paid-up share capital structure:

Enhanced Shareholding Pattern

The warrant conversion and bonus share release significantly enhanced the promoter's shareholding pattern. Anil Zaverchand Mehta's stake increased from 58,75,200 shares (22.71%) to 68,67,200 shares (25.56%) of the post-allotment capital.

Complete Warrant Conversion History

The company had initially allotted 5,60,000 convertible warrants in September 2024 at Rs. 207.00 per warrant to promoter and non-promoter categories. The conversion process was completed in phases, with this final conversion of 1,24,000 warrants completing all outstanding warrant obligations. The newly allotted bonus equity shares carry the same rights as existing equity shares, including dividends and other corporate benefits declared after the allotment date.