Shine Fashions (India) Limited has completed a significant corporate action involving warrant conversion and bonus share release, as announced in its board meeting held on October 29th, 2025. The company successfully allotted 70,000 equity shares through warrant conversion while simultaneously releasing reserved bonus shares to its promoter.

Warrant Conversion Details

The board approved the allotment of 70,000 equity shares with a face value of Rs. 5.00 each upon conversion of 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 4,90,000 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 25th, 2025.

Impact on Share Capital

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

Shareholding Pattern Changes

The warrant conversion and bonus share release significantly altered the promoter's shareholding pattern. Anil Zaverchand Mehta's stake increased from 53,15,200 shares (19.55%) to 58,75,200 shares (22.71%) of the post-allotment capital.

Outstanding Warrants

The current conversion represents a portion of the original preferential allotment. 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. Following this conversion, 1,24,000 warrants remain outstanding and available for future conversion. Additionally, 8,68,000 bonus shares remain reserved for holders of outstanding convertible warrants, to be issued upon conversion in accordance with SEBI ICDR Regulations.

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.

Shine Fashions (India) Limited has rescheduled its board meeting to March 10, 2026 at 4:00 PM to deliberate on significant corporate actions involving warrant conversion and bonus share allotment. The meeting has been convened in compliance with Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.

Updated Meeting Details

The company has issued a formal notice to BSE Limited regarding the rescheduled board meeting with updated timing and agenda items.

Key Agenda Items

The board meeting will primarily focus on two major items that could impact the company's share structure and shareholder value.

Warrant Conversion and Bonus Share Allotment

The primary agenda involves considering and approving the allotment of equity shares pursuant to warrant conversion for holders who have exercised their conversion rights. Additionally, the board will deliberate on releasing reserved bonus shares upon warrant conversion.

Under this arrangement, eligible shareholders will receive 7 new fully paid-up equity shares of Rs. 5.00 each for every 1 existing fully paid-up equity share of Rs. 5.00. The record date for determining eligibility has been set as July 25, 2025.

Corporate Governance

The meeting notice has been signed by Anish Anil Mehta, Managing Director (DIN: 08560153), ensuring proper corporate governance protocols are followed. The board will also consider any other business matters with the permission of the chair during the meeting.

This development represents a significant corporate action that could substantially increase the company's issued share capital and provide additional value to existing shareholders through the bonus share allotment mechanism.