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.

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.

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.

Shish Industries Limited , a company listed on the BSE, has announced a significant corporate action involving the cancellation of warrants and forfeiture of subscription money. The decision, made by the company's Board of Directors, comes in response to non-payment issues related to previously issued warrants.

Key Details of the Warrant Cancellation

Board Meeting and Decision

The Board of Directors of Shish Industries Limited convened a meeting on November 10, 2025, to address the issue of unpaid warrants. The meeting, which began at 6:00 PM and concluded at 6:30 PM, resulted in two key decisions:

1. Approval of the cancellation of 672,914 warrants convertible into equity shares.
2. Forfeiture of the upfront warrant subscription money amounting to ₹2,02,21,065.70.

Implications of the Decision

As a result of this corporate action:

• The cancelled warrants will no longer be eligible for conversion into equity shares of the company.
• The forfeited amount of ₹2.02 crore will be retained by the company, in accordance with the terms of issue of the said warrants.

Regulatory Compliance

Shish Industries Limited has made this announcement in compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has duly informed the BSE Limited of this development, maintaining transparency with its stakeholders and regulatory bodies.

This corporate action underscores the importance of timely payments in warrant conversions and highlights the potential consequences for investors who fail to meet the stipulated payment schedules. It also demonstrates the company's adherence to regulatory requirements and its commitment to maintaining clear communication with the stock exchange and its shareholders.