Ushanti Colour Chem Limited — Others, 16-04-2025: Resignation

Ushanti Colour Chem Limited has announced a board meeting that approved a fundraise of up to INR 20.25 crore through the issue of 29.78 lakh Convertible Equity Warrants at a price of INR 68 per Warrant. Each Warrant will be convertible into one fully paid equity share within 18 months. Additionally, Mrs. Nisha Bhavin Shah has been appointed as an Additional (Non-Executive) Independent Director for a term of five years, while Ms. Hanisha Jinish Patel has resigned from the board. The company is slated to hold an Extraordinary General Meeting on May 15, 2025, to seek shareholder approval for these changes. This strategic move could enhance cash flow and investor confidence, despite the board reshuffle representing a transitional phase.