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Ushanti Colour Chem Limited has announced a board meeting to approve issuing up to 29.78 lakh Convertible Equity Warrants at ₹68 each, totaling ₹20.25 Cr, through a preferential private placement to promoters and non-promoters. Each warrant can be converted into one equity share within 18 months. The proceeds will support investments and advances to subsidiaries, acquisition of debentures from joint ventures, and general corporate needs. The issue price is based on a registered valuer’s report, and the allotment will not affect management control. Shares will be locked in and listed on the NSE SME platform.