Gujarat-based penny stock under Rs 70: Company to raise Rs 63,00,00,000 from promoters & non-promoters!

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Gujarat-based penny stock under Rs 70: Company to raise Rs 63,00,00,000 from promoters & non-promoters!

The stock is up by 86.7 per cent from its 52-week low of Rs 34.52 per share.

Ishan Dyes and Chemicals Ltd announced that its Board of Directors, in a meeting held on Wednesday, July 16, 2025, approved a significant increase in the company's Authorised Share Capital. Subject to shareholder approval, the authorised share capital will increase from Rs 25 crore (2.5 crore equity shares of Rs 10 each) to Rs 35 crore (3.5 crore equity shares of Rs 10 each). This move paves the way for substantial fundraising initiatives.

Additionally, the Board approved two preferential issues, both priced at Rs 63 per share/warrant (including a premium of Rs 53), subject to shareholder and regulatory approvals. The first involves issuing up to 45,84,872 convertible equity warrants to promoters, aiming to raise up to Rs 28,88,46,936. These warrants are convertible into one fully paid-up equity share within 18 months. The second is an issuance of up to 54,15,128 fully paid-up equity shares to non-promoter/public categories, designed to raise up to Rs 34,11,53,064. Both issues adhere to the Companies Act, 2013, and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

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Gujarat-based Ishan Dyes and Chemicals Ltd (IDCL), incorporated in 1993, specialises in the manufacturing, trading, export, and import of chemicals primarily used in dyes and pigments. Their core product portfolio includes the Phthalocyanine Blue range, specifically Copper Phthalocyanine Crude Blue (CPC Blue), Pigment Alpha Blues, and Pigment Beta Blue. These versatile products find extensive applications across various industries, including paints, textiles, inks, plastics, and rubber, highlighting IDCL's significant role in providing essential colourants for diverse manufacturing processes.

The company has a market cap of over Rs 130 crore and debtor days have improved from 77.6 to 43.1 days. The stock is up by 86.7 per cent from its 52-week low of Rs 34.52 per share.

Disclaimer: The article is for informational purposes only and not investment advice.