Ishan Dyes and Chemicals Limited Allots Equity Shares, Appoints Internal Auditor, and Announces Resignation of Existing Auditor
Ahmedabad – Ishan Dyes and Chemicals Limited announced the allotment of 4,23,280 equity shares following the exercise of convertible equity warrants and appointed a new internal auditor during a board meeting held on March 21, 2026.The company allotted the shares to Anilaben Piyushbhai Patel, who exercised options to convert 4,23,280 warrants held. The issue price for these shares was ₹ 63 per share, resulting in a total inflow of ₹ 1,99,99,980 for the company. As of March 21, 2026, 41,61,592 warrants remain outstanding for conversion.
Following the allotment, the paid-up equity share capital of the company increased from ₹ 26,14,04,170 to ₹ 26,56,36,970, representing a total of 2,65,63,697 equity shares.
In addition to the share allotment, Ishan Dyes and Chemicals Limited announced the resignation of M/s K. D. Dave & Co. as the company's internal auditor, effective March 21, 2026, due to pre-occupancies and other professional commitments. The board subsequently appointed M/s. H D Panchal & Co. as the new internal auditor for the financial year ending March 31, 2026.
The company also announced a postal ballot for shareholder approval regarding the re-appointment of Mr. Shrinal P Patel as a Whole-Time Director and Mr. Piyushbhai Natvarlal Patel as a Managing Director. Details regarding the postal ballot, including the calendar of events and timelines, will be submitted to the stock exchanges.
Table: Equity Shares Allotment Details
| Sr. No | Name of Allottee(s) | Category | Number of Warrants Allotted in total | No. of Equity Shares Allotted against Conversion of Warrants | Issue Price per Equity Share (In INR) | Balance75% of the issue price received. (In INR) | Balance Outstanding Warrants for conversion |
|---|---|---|---|---|---|---|---|
| 1. | Anilaben Piyushbhai Patel | Promoter | 22,92,436 | 4,23,280 | 63/- | 1,99,99,980 | 18,69,156 |
| Total | Total | Total | 22,92,436 | 4,23,280 | 63/- | 1,99,99,980 | 18,69,156 |
Table: Post-Allotment Capital
| Particulars | Number of Equity Shares | Amount (In Indian Rupees) |
|---|---|---|
| Existing Paid-up Equity Share Capital | 2,61,40,417 | 26,14,04,170 |
| Post- Allotment Paid-up Equity Share Capital | 2,65,63,697 | 26,56,36,970 |
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