Shish Industries Board Approves Major Capital Structure Changes and Preferential Issue

Shish Industries Limited's Board of Directors has approved significant capital structure changes and a comprehensive preferential issue plan during their board meeting held on December 22, 2025. The meeting, conducted at the company's registered office from 7:00 PM to 8:30 PM, resulted in several key decisions that will reshape the company's capital framework.

Authorized Share Capital Enhancement

The board has approved a substantial increase in the company's authorized share capital to facilitate future fundraising activities. The enhancement represents a strategic move to provide greater flexibility for capital raising initiatives.

Parameter:	Current Structure	Proposed Structure
Authorized Capital:	₹40.00 crores	₹53.00 crores
Number of Shares:	40.00 crore shares	53.00 crore shares
Face Value:	₹1.00 per share	₹1.00 per share

Preferential Issue Details

The company has approved a comprehensive preferential issue comprising both equity shares and fully convertible equity warrants. This dual-structure approach will provide investors with immediate equity participation and future conversion options.

Security Type:	Quantity	Face Value	Conversion Terms
Equity Shares:	Up to 4.00 crore shares	₹1.00 each	Immediate allotment
Equity Warrants:	Up to 8.41 crore warrants	₹1.00 each	18-month conversion period
Total Investors:	199 investors	-	All public non-institutional

Investor Composition and Shareholding Impact

The preferential issue will involve 199 investors, all classified as public non-institutional individuals. The proposed allotment will significantly alter the company's shareholding pattern, with promoter holding expected to decrease substantially on a fully diluted basis.

Shareholding Category:	Pre-Issue	Post-Issue
Promoters Group:	60.55%	45.70%
Number of Shares:	23.13 crore	23.13 crore
Total Outstanding:	38.20 crore	50.60 crore

Regulatory Compliance and Next Steps

The board has appointed National Securities Depository Limited (NSDL) as the remote e-voting agency and M/s Alap Co. LLP as scrutinizer for the upcoming Extraordinary General Meeting. The issue price for both equity shares and warrants will be determined in accordance with SEBI (ICDR) Regulations, 2018.

The equity warrants will be convertible into equity shares within 18 months from the allotment date, providing flexibility to warrant holders. All proposed changes are subject to shareholder approval at the Extraordinary General Meeting and regulatory approvals from SEBI and other applicable authorities.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.98%	+14.55%	+79.42%	+106.36%	+26.72%	+1,075.36%

Shish Industries Limited promoters have executed a significant disposal of equity shares through open market transactions, reducing their collective stake in the company. The transaction involved the sale of 1,93,34,050 equity shares, representing 5.06% of the company's total share capital.

Transaction Details and Purpose

The disposal was carried out by two primary promoters over two days through open market operations. In a formal press release, the promoters clarified that the sole objective of this transaction is the de-leveraging of their personal balance sheets, with proceeds earmarked strictly for repayment of personal financial obligations.

Parameter	Details
Total Shares Disposed	1,93,34,050 shares
Transaction Value	5.06% of total equity
Transaction Dates	December 15-16
Mode of Sale	Open Market
Purpose	Personal debt repayment
Regulatory Filing	Regulation 29(2) SEBI SAST

Promoter Holdings Analysis

The shareholding pattern shows a notable change in promoter ownership following the disposal. The promoter group's collective holding decreased from 65.61% to 60.55% of the total equity capital, while maintaining controlling interest in the company.

Shareholding Period	Total Shares	Percentage
Before Disposal	25,05,97,149	65.61%
Shares Disposed	1,93,34,050	5.06%
After Disposal	23,12,63,099	60.55%

Key Promoters and Distribution

The disposal involved equal participation from the two main promoters. Rameshbhai Virjibhai Kakadiya and Satishkumar Dayabhai Maniya each disposed of 96,67,025 shares through the open market transactions.

Post-transaction, Rameshbhai Virjibhai Kakadiya holds 11,41,50,675 shares (29.89% of total equity), while Satishkumar Dayabhai Maniya holds 11,34,90,675 shares (29.71% of total equity). The remaining promoter group members maintained their existing shareholdings.

Promoter Commitment and Outlook

In their press release, the promoters explicitly stated that this transaction does not indicate any change in their outlook regarding the company's operational health, financial stability, or future growth prospects. They confirmed no material non-public information precipitated this sale and reaffirmed their commitment to the company's management and long-term strategic objectives.

Regulatory Compliance

The promoters have fulfilled their regulatory obligations by filing the mandatory disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was submitted to BSE Limited, where the company's shares are listed. This transaction demonstrates adherence to transparency requirements for substantial shareholding changes in listed companies.