Ishan Dyes & Chemicals Limited to issue 50 lakh warrants at Rs. 61 per warrant

The Board of Directors of Ishan Dyes & Chemicals Limited at their meeting held today i.e. Thursday, 01st July, 2021 has considered and approved raising of funds through Issue of 50,00,000 (Fifty Lakh) Convertible Equity Warrants ("Warrants") at a price of INR 61/- (Rupees Sixty One only) per Warrant aggregating to INR 30.50 Crores (Rupees Thirty Crores Fifty Lakhs only) on a preferential and private placement basis to the Promoters and other Non-Promoters/Public Investors.

The said issue of the Warrants will be subject to the approval of the Shareholders of the Company at an Extra Ordinary General Meeting scheduled to be held on Friday, 30th July, 2021 and also in compliance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations 2018") and other applicable laws and regulations. The notice for Extra Ordinary General Meeting along with Evoting period will be published separately in due course of the time.

The Relevant Date in relation to the issue of Warrants in accordance with SEBI ICDR Regulations, 2018 would be Wednesday, 30th June, 2021, being the date 30 days prior to the date of passing of resolution at the ensuing Extra Ordinary General Meeting to be held on Friday, 30th July, 2021.

Shares of ISHAN DYES & CHEMICALS LTD. was last trading in BSE at Rs.65 as compared to the previous close of Rs. 61.65. The total number of shares traded during the day was 76355 in over 527 trades.

The stock hit an intraday high of Rs. 65.85 and intraday low of 61.2. The net turnover during the day was Rs. 4864775.

Source : Equity Bulls

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