Diamines & Chemicals Ltd. Announces Substantial Acquisition of Shares
Diamines & Chemicals Ltd. received a disclosure on March 25, 2026, regarding a substantial acquisition of shares under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.The acquirers include Amit M. Mehta, Cherry A. Mehta, Mohak A Mehta, Harsh A. Mehta, S. Amit Specialty Chemicals Private Limited, Perfo Chem India Private Limited, and Finorga (India) Private Limited. A person acting in concert (PAC) with the acquirers is Pinakin Kantilal Patel. All acquirers belong to the Promoter or Promoter group.
The company is listed on the BSE Limited (Scrip code 500120) and the National Stock Exchange of India Limited (NSE code DIAMINESO).
Details of Acquisition
The acquisition involved the conversion of warrants into equity shares via a preferential issue. This resulted in an increase in the company's equity share capital from Rs. 9,78,39,900 divided into 97,83,990 Equity Shares of Rs. 10/- Each to Rs. 10,05,33,920 divided into 1,00,53,392 Equity Shares of Rs. 10/- Each. The total diluted share/voting capital increased to Rs. 10,69,03,800 divided into 1,06,90,380 Equity Shares of Rs. 10/- Each.
Shareholding Details
The following table summarizes the equity shareholding changes resulting from the warrant conversion:
| Name of Acquirer | Equity Holding Prior to Conversion (No. of Shares) | % of Paid-up Share Capital | % of Diluted Share Capital | Equity Shares Allotted (No.) | % of Paid-up Share Capital | % of Diluted Share Capital |
|---|---|---|---|---|---|---|
| Amit M. Mehta | 12,87,999 | 13.16 | 12.05 | 71,460 | 13.52 | 12.72 |
| Cherry A. Mehta | 10,83,247 | 11.07 | 10.13 | 67,582 | 11.45 | 10.77 |
| Mohak A. Mehta | 5,08,478 | 5.20 | 4.76 | 40,546 | 5.46 | 5.14 |
| Harsh A. Mehta | 5,17,018 | 5.28 | 4.84 | 36,816 | 5.51 | 5.18 |
| S. Amit Specialty Chemicals Pvt. Ltd. | 4,95,464 | 5.06 | 4.63 | 18,250 | 5.11 | 4.81 |
| Perfo Chem India Pvt. Ltd. | 9,70,999 | 9.92 | 9.08 | 16,196 | 9.82 | 9.23 |
| Finorga (India) Pvt. Ltd. | 5,03,568 | 5.15 | 4.71 | 12,752 | 5.14 | 4.83 |
| Pinakin Kantilal Patel (PAC) | 99,316 | 1.02 | 0.93 | 0 | 0.99 | 0.93 |
| Surbhi Kishore Tanna | 10,281 | - | - | 0 | 0.10 | 0.10 |
| Hima Pinakin Patel | 10,000 | - | - | 0 | 0.01 | 0.01 |
| Total | 54,77,370 | 2,63,602 | 57.10 | 53.70 |
The acquisition occurred on March 24, 2026.
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