Shish Industries Limited has completed a major capital raising initiative through preferential allotment of equity shares and convertible warrants, as approved by its Board of Directors in a meeting held on February 26, 2026. The company formally communicated the allotment outcome to BSE Limited through an official disclosure.

Equity Share Allotment Details

The company successfully allotted 40000040 equity shares through preferential issue, raising substantial capital for its operations.

The newly allotted equity shares rank pari passu with existing equity shares of the company in all respects, ensuring equal rights for all shareholders.

Impact on Share Capital Structure

The preferential allotment has significantly expanded the company's equity base, reflecting strong investor confidence.

Convertible Warrants Issue

Alongside the equity allotment, the company also issued convertible warrants to provide additional funding flexibility.

Each warrant is fully convertible into one equity share of face value ₹1.00, providing the company with potential future capital infusion upon conversion.

Board Meeting and Regulatory Compliance

The Board of Directors convened at the company's registered office on February 26, 2026, from 06:15 P.M. to 07:00 P.M. to deliberate and approve these significant capital market transactions. The meeting was chaired by Satishkumar Maniya, Chairman and Managing Director, who digitally signed the official communication to BSE Limited.

The allotments were executed in accordance with the special resolutions previously passed by the company's shareholders, ensuring proper corporate governance and regulatory compliance. The warrants have been issued as per the terms and conditions specified in the shareholder-approved special resolution, providing a structured framework for future conversion into equity shares.

Shish Industries Limited has issued a comprehensive postal ballot notice dated February 12, 2026, seeking shareholder approval for multiple significant corporate resolutions through electronic voting. The notice, filed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, outlines five key proposals requiring member approval.

Material Related Party Transactions with Subsidiaries

The company is seeking approval for substantial related party transactions with two subsidiary companies. The first proposal involves transactions with Interstar Polyfab Private Limited (IPPL), a 76.67% subsidiary engaged in manufacturing FIBC bags, woven sacks, and allied products. The second proposal covers transactions with Shish Advanced Composites Private Limited (SACPL), a 65.00% subsidiary focused on advanced composite solutions for aerospace, automotive, and engineering applications.

Transaction Details with IPPL

Transaction Details with SACPL

These transactions are proposed for FY 2026-27 and are expected to be conducted on an arm's length basis in the ordinary course of business. The company's consolidated turnover for FY 2024-25 was ₹11,625.12 lakh, making several of these transactions material under SEBI regulations.

Board and Management Changes

The postal ballot includes two significant appointments and remuneration matters. The company proposes to revise the remuneration of Mrs. Nitaben Satishkumar Maniya (DIN: 07740523), Executive Director, to up to ₹2,00,000 per month with annual increments of 10% effective April 1, 2026. Mrs. Maniya, who has 12 years of administrative experience, currently holds 6,59,989 equity shares in the company.

Additionally, the company seeks to re-appoint Mr. Nareshkumar Parshottambhai Lakhani (DIN: 09023300) as an Independent Director for a second five-year term until January 7, 2031. Mr. Lakhani, a practicing Chartered Accountant with nearly 20 years of experience in finance and taxation, currently holds 4,000 equity shares.

Financial Assistance Authorization

The fourth resolution seeks approval for advancing loans, providing guarantees, or securities to SACPL and other related entities under Section 185 of the Companies Act, 2013, with an aggregate outstanding limit of ₹35.00 crores. This authorization is intended to support the subsidiary's capital expenditure requirements and working capital needs.

Voting Schedule and Process

The company has engaged National Securities Depository Limited (NSDL) for the e-voting facility, with M/s. ALAP & Co. LLP appointed as the scrutinizer. Only members whose names appear in the register as of the cut-off date are eligible to vote, with voting rights proportional to their shareholding in the paid-up equity share capital.

Company Performance Context

Shish Industries Limited reported strong financial performance in FY 2024-25, with standalone revenue from operations of ₹11,778.82 lakh compared to ₹8,547.88 lakh in the previous year. The company achieved a standalone profit after tax of ₹1,095.21 lakh for FY 2024-25, demonstrating robust operational performance that supports these strategic initiatives.