Ushanti Colour Chem Limited — QIP/Rights/Pref., 16-04-2025: Preferential issue

Ushanti Colour Chem Limited has announced a board meeting outcome approving a preferential issue to raise up to ₹20.25 Cr by issuing 29,78,000 Convertible Equity Warrants at ₹68 each. The issuance will allow each warrant to convert into one equity share within 18 months. Key allottees include both promoters and non-promoters, with significant shares allotted to individuals such as Maunal and Minku Shantilal Gandhi. Additionally, Mrs. Nisha Bhavin Shah has been appointed as an Additional Non-Executive Independent Director for a five-year term, and Ms. Hanisha Jinish Patel has resigned from the board effective immediately. An Extra-Ordinary General Meeting is scheduled for May 15, 2025, to seek shareholder approval for these corporate actions.