Diamines & Chemicals boosts equity base through partial warrant conversion

The latest update is out from Diamines & Chemicals Ltd. ( (IN:DIAMINESQ) ).

Diamines & Chemicals Ltd. has approved the conversion of 269,402 previously issued warrants into an equal number of equity shares, following receipt of Rs. 11.15 crore, representing the remaining 75% of the issue price per warrant. The allotment, largely to promoter group entities and one non-promoter investor, reflects continued capital infusion into the company via a preferential route.

After this conversion, 636,988 warrants remain outstanding and may be converted within 18 months of the original allotment date, failing which the initial 25% subscription money will be forfeited and the warrants cancelled. As a result of the new share issuance, the company’s paid-up equity share capital has risen from Rs. 9.78 crore to Rs. 10.05 crore, modestly diluting existing shareholders while strengthening the equity base and maintaining parity of rights for the new shares, subject to regulatory approvals.

More about Diamines & Chemicals Ltd.

Diamines & Chemicals Ltd. is an Indian speciality chemicals manufacturer based in Vadodara, Gujarat, operating in the petrochemicals and derivatives space. The company focuses on producing diamines and related chemical products for industrial applications, serving domestic and potentially export markets aligned with specialty and performance chemicals demand.

Average Trading Volume: 1,855

Technical Sentiment Signal: Sell

Current Market Cap: 2.12B INR

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