Shine Fashions (India) Limited Schedules Board Meeting for January 21, 2026 to Consider Bonus Share Release

Shine fashions (India) Limited has announced a board meeting scheduled for January 21, 2026, to deliberate on the release of reserved bonus shares for warrant holders. The meeting, set to commence at 11:00 A.M., will address key corporate actions related to the company's equity structure and warrant conversion process. Board Meeting Details The board meeting has been convened in compliance with Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015. The company has provided prior intimation to BSE Limited regarding this scheduled meeting, ensuring transparency and regulatory compliance. Meeting Parameter: Details Date: January 21, 2026 Time: 11:00 A.M. Regulatory Framework: SEBI LODR Regulation 29 Company Symbol: SHINEFASH ISIN Code: INE0BLY01023 Bonus Share Proposal The primary agenda item involves considering and approving the release of reserved bonus shares upon conversion of warrants into equity shares. The proposed bonus issue follows a specific ratio and targets warrant holders who meet designated criteria. Bonus Share Details: Specifications Bonus Ratio: 7:1 New Share Value: ₹5.00 per share Existing Share Value: ₹5.00 per share Record Date: July 25, 2025 Eligibility: Outstanding convertible warrant holders Warrant Conversion Framework The bonus share release is specifically designed for persons holding outstanding convertible warrants as on the record date of July 25, 2025. These warrant holders must express their intention to exercise their conversion rights to be eligible for the bonus shares. The conversion process involves transforming warrants into fully paid-up equity shares, followed by the allocation of bonus shares in the prescribed 7:1 ratio. Under this arrangement, eligible warrant holders will receive 7 new fully paid-up equity shares of ₹5.00 each for every 1 existing fully paid-up equity share of ₹5.00 they hold after warrant conversion. This structure provides significant value enhancement for warrant holders who choose to exercise their conversion rights. Corporate Governance and Documentation The meeting agenda also includes provisions for addressing any other business matters with the permission of the chair. This standard inclusion ensures flexibility for the board to discuss additional items that may arise during the meeting. The company has maintained proper documentation and communication protocols, with Managing Director Anish Anil Mehta signing the official intimation notice. The formal communication to BSE Limited demonstrates the company's commitment to regulatory compliance and transparent corporate governance practices. All stakeholders have been provided with adequate notice and detailed information regarding the proposed corporate actions. Shine Fashions (India) Limited has announced board approval for the strategic acquisition of SKS Textiles Limited (In Liquidation) for ₹12.61 crores, following a board meeting held on January 8, 2026. The acquisition will be executed through the Insolvency and Bankruptcy Code (IBC) process, subject to applicable statutory, regulatory, and judicial approvals. Strategic Acquisition Details The board has approved participation in acquiring SKS Textiles Limited as a going concern with a view to long-term value creation for the company and its stakeholders. The acquisition is designed to achieve strategic synergies and expand Shine Fashions' footprint in the textile sector. Acquisition Parameter: Details Target Company: SKS Textiles Limited (In Liquidation) Total Cost: ₹12.61 crores Payment Mode: Cash consideration Expected Timeline: 6-12 months Control Acquired: Controlling interest (subsidiary status) Industry: Textile Manufacturing and Trading Target Company Profile SKS Textiles Limited, incorporated on October 20, 1997, operates in the textile manufacturing and trading segment with specialization in natural and man-made fibers. The company's manufacturing unit is located in Bhiwandi, Maharashtra, with registered office in Mumbai. Product Portfolio and Operations The target entity specializes in manufacturing grey fabrics and finished fabrics for shirting and suiting. Core products include 100% Cotton (Lycra and Non-Lycra), Giza, Supima, Blended Cotton Suiting, Polyester Viscose, and Terry Rayon. The company previously marketed products under brand names Pierricarrlo, Cotbelly's, and Earthen Belly, serving major corporate clients including Raymond, Arvind, Siyaram's, and Digjam. Financial Performance: Status FY 2024-25: NIL (Company in Liquidation) FY 2023-24: NIL (Company in Liquidation) FY 2022-23: NIL (Company in Liquidation) Strategic Rationale and Expected Benefits The acquisition is intended to broaden textile capabilities and diversify the company's product portfolio. Management anticipates that this integration will unlock significant economies of scale, enhance operational capabilities, and strengthen competitive positioning in the fabric industry. The target's operations are aligned with Shine Fashions' long-term vision for market leadership in the textile sector. Regulatory Approvals and Compliance The transaction requires multiple regulatory approvals and compliance measures as outlined in the company's disclosure under Regulation 30 of SEBI LODR Regulations. Regulatory Requirement: Status NCLT Approval: Required IBC Compliance: Required Companies Act 2013: Required SEBI Regulations: Required Related Party Transaction: Not applicable Funding Arrangements The board also approved obtaining unsecured loans from directors and promoters to fulfill urgent fund requirements. The transaction does not fall within related party transactions, as promoters and group companies have no interest in the target entity, ensuring the deal is conducted at arm's length. The meeting was formally concluded with proper documentation signed by Anish Anil Mehta, Managing Director (DIN: 08560153), ensuring full regulatory compliance and transparency for stakeholders. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. 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