Ishaan Infrastructures and Shelters Ltd (540134)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Ishaan Infrastructures' revenue was ₹0.0 Cr, and net profit ₹-0.0 Cr (a smaller loss than a year earlier).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹0.0 | — | — |
| Operating profit | ₹-0.0 | loss narrowed | loss narrowed |
| Net profit | ₹-0.0 | loss narrowed | loss narrowed |
| EPS (₹) | -0.07 | loss narrowed | loss narrowed |
📢 Recent Corporate Announcements
Ishaan Infrastructures and Shelters Limited has revised its proposed preferential issue size from ₹79.03 Cr to ₹77.25 Cr, issuing up to 5,51,78,892 equity shares at ₹14 per share for consideration other than cash. The revision follows the removal of one proposed allottee, Mr. Rajesh Arora, who had sold shares within the regulatory look-back period under SEBI ICDR regulations. Through this share swap, the company will acquire a 98.71% stake in Blisstering Electronics Private Limited and 90.17% in Bliss Cab Electronics Private Limited. Given the company's current market cap of approximately ₹11 Cr, the incoming transaction represents massive reverse-merger-scale dilution and will trigger a mandatory open offer under SEBI SAST Regulations.
- Preferential issue revised to 5,51,78,892 shares at ₹14 each, aggregating to ₹77,25,04,488 (down from ₹79,03,24,248)
- Proposed stake in Blisstering Electronics Pvt Ltd revised to 98.71% (30,83,479 shares) against issuance of 4,62,52,185 company shares
- Proposed stake in Bliss Cab Electronics Pvt Ltd revised to 90.17% (1,11,02,870 shares) against issuance of 89,26,707 company shares
- Allottees will hold 89.50% post-issue share capital, triggering an open offer and potential change of promoter control under SEBI SAST
Ishaan Infrastructures and Shelters Limited has revised its proposed preferential issue size from ₹79.03 Cr to ₹77.25 Cr, issuing up to 5,51,78,892 equity shares at ₹14 per share for consideration other than cash. The revision follows the removal of one proposed allottee, Mr. Rajesh Arora, who had sold shares within the regulatory look-back period under SEBI ICDR regulations. Through this share swap, the company will acquire a 98.71% stake in Blisstering Electronics Private Limited and 90.17% in Bliss Cab Electronics Private Limited. Given the company's current market cap of approximately ₹11 Cr, the incoming transaction represents massive reverse-merger-scale dilution and will trigger a mandatory open offer under SEBI SAST Regulations.
- Preferential issue revised to 5,51,78,892 shares at ₹14 each, aggregating to ₹77,25,04,488 (down from ₹79,03,24,248)
- Proposed stake in Blisstering Electronics Pvt Ltd revised to 98.71% (30,83,479 shares) against issuance of 4,62,52,185 company shares
- Proposed stake in Bliss Cab Electronics Pvt Ltd revised to 90.17% (1,11,02,870 shares) against issuance of 89,26,707 company shares
- Allottees will hold 89.50% post-issue share capital, triggering an open offer and potential change of promoter control under SEBI SAST
Misun Pure Lights and individual acquirers along with PACs have announced a mandatory open offer to acquire up to 63,48,500 equity shares (10.04% of expanded capital) of Ishaan Infrastructures and Shelters Ltd at ₹14 per share, payable in cash aggregating ₹8.89 Cr. The offer was triggered by a preferential issue of 5,67,51,732 shares via share swap agreements to acquire Blisstering Electronics and Bliss Cab Electronics. The expanded equity base will increase nearly ten-fold from 64.75 lakh shares to 6.32 crore shares. The offer price of ₹14 represents a ~33% premium over the recent trading price of ₹10.50.
- Open offer for 63,48,500 shares (10.04% of expanded share capital) at ₹14.00 per share in cash.
- Total open offer consideration capped at ₹8.8879 Cr, covering the entire eligible public float.
- Target company issues 5,67,51,732 equity shares under share swap arrangements to acquire two electronics entities.
- Expanded voting share capital expands to 6,32,26,332 equity shares from 64,74,600 shares pre-deal.
Ishaan Infrastructures has approved the 100% acquisition of Blisstering Electronics Pvt Ltd (FY26 turnover of ₹164.70 Cr) and Bliss Cab Electronics Pvt Ltd (turnover of ₹1.31 Cr) through a share swap agreement. To fund the transaction, the company will issue up to 5,67,51,732 equity shares on a preferential basis at ₹14 per share, totaling ~₹79.45 Cr. The board also approved hiking authorized share capital from ₹7.50 Cr to ₹64.00 Cr, alongside noting resignations of its statutory auditor, secretarial auditor, and two independent directors.
- Approved 100% acquisition of Blisstering Electronics (turnover ₹16,469.54 Lakhs) and Bliss Cab Electronics (turnover ₹131.21 Lakhs)
- Issuance of up to 5,67,51,732 equity shares at ₹14 per share on a preferential share swap basis
- Authorized share capital expanded from ₹7.50 Cr to ₹64.00 Cr to accommodate the massive equity expansion
- Resignation of Statutory Auditor (M/s Prakash Tekwani & Associates) and appointment of M/s Grover Lalla & Mehta for 5 years
- Resignation of two Independent Directors (Ms. Priyanka K. Gola and Mr. Nayan Kamleshbhai Patel)
Ishaan Infrastructures has approved the 100% acquisition of Blisstering Electronics Pvt Ltd (FY26 turnover ₹164.70 Cr) and Bliss Cab Electronics Pvt Ltd (turnover ₹1.31 Cr) via a share swap agreement. To fund the transaction, the company will issue up to 5,67,51,732 equity shares at ₹14 per share (aggregate value ~₹79.45 Cr), significantly expanding its share capital compared to its existing ₹7 Cr market cap. Concurrently, authorized share capital is being expanded from ₹7.50 Cr to ₹64.00 Cr. The board also noted resignations of its statutory auditor, secretarial auditor, and two independent directors.
- Acquiring 100% stake in Blisstering Electronics (FY26 turnover ₹164.70 Cr) and Bliss Cab Electronics (turnover ₹1.31 Cr)
- Issuing up to 5,67,51,732 equity shares at ₹14/share (~₹79.45 Cr) on a preferential swap basis
- Authorized share capital increased from ₹7.50 Cr to ₹64.00 Cr
- Noted resignation of Statutory Auditor M/s. Prakash Tekwani & Associates and two Independent Directors
Ishaan Infrastructures has approved the 100% acquisition of Blisstering Electronics and Bliss Cab Electronics via a share swap agreement. To fund the transaction, the company will issue up to 5,67,51,732 equity shares at ₹14 per share, totaling ~₹79.45 crore, alongside increasing its authorized share capital from ₹7.5 crore to ₹64.0 crore. Target entity Blisstering Electronics reported a turnover of ₹164.70 crore (₹16,469.54 lakhs) for FY26, compared to Ishaan's near-zero revenue base. Concurrently, the company witnessed multiple board and auditor resignations, including the statutory auditor and two independent directors.
- Acquisition of 100% equity in Blisstering Electronics and Bliss Cab Electronics via share swap
- Preferential issue of up to 5,67,51,732 equity shares at ₹14 per share (~₹79.45 crore total issue value)
- Target entity Blisstering Electronics recorded turnover of ₹16,469.54 lakhs (₹164.70 crore) as of March 31, 2026
- Authorized share capital expanded from ₹7.50 crore to ₹64.00 crore
- Resignation of Statutory Auditor (Prakash Tekwani & Associates), Secretarial Auditor, and two Independent Directors
Ishaan Infrastructures and Shelters has approved the 100% acquisition of Blisstering Electronics Pvt Ltd (FY26 turnover: ₹164.70 Cr) and Bliss Cab Electronics Pvt Ltd via a share swap agreement. To fund the transaction, the board approved a preferential issue of up to 5,67,51,732 shares at ₹14 per share, totaling ~₹79.45 Cr, alongside expanding authorized capital from ₹7.5 Cr to ₹64.0 Cr. The board also noted the resignations of its statutory auditor, secretarial auditor, and two independent directors, appointing M/s Grover Lalla & Mehta as new statutory auditors.
- Acquiring 100% stake in Blisstering Electronics (turnover ₹16,469.54 Lakhs) and Bliss Cab Electronics (turnover ₹131.21 Lakhs) via share swap
- Issuing up to 5,67,51,732 equity shares on a preferential basis at ₹14/share (~₹79.45 Cr deal value)
- Authorized share capital expanded from ₹7.50 Cr to ₹64.00 Cr to accommodate the share issuance
- Appointed M/s Grover Lalla & Mehta as Statutory Auditors for 5 years following the resignation of previous auditors
- Major board overhaul with resignations of two independent directors and appointment of a new independent director
Ishaan Infrastructures has approved the 100% acquisition of Blisstering Electronics Private Limited (FY26 turnover: ₹164.70 Cr) and Bliss Cab Electronics Private Limited (turnover: ₹1.31 Cr) through a share swap. To execute the deal, the board approved issuing up to 5,67,51,732 equity shares at ₹14 per share (total value of ~₹79.45 Cr) on a preferential basis, alongside raising authorized share capital from ₹7.50 Cr to ₹64.00 Cr. This represents a complete business transformation for Ishaan Infra, which reported nil revenue in FY26 with a market capitalization of just ₹7 Cr. Concurrently, the company noted the resignations of its Statutory Auditor, Secretarial Auditor, and two Independent Directors, replacing them with new appointments.
- Approved 100% acquisition of Blisstering Electronics (turnover of ₹16,469.54 Lakhs) and Bliss Cab Electronics (turnover of ₹131.21 Lakhs) via share swap.
- Issuance of up to 5,67,51,732 equity shares at ₹14 per share (~₹79.45 Cr) on a preferential basis.
- Authorized share capital increased from ₹7.50 Cr (75 lakh shares) to ₹64.00 Cr (6.40 crore shares).
- Noted resignations of Statutory Auditor (Prakash Tekwani & Associates), Secretarial Auditor, and two Independent Directors.
Ishaan Infrastructures and Shelters Ltd has scheduled a Board of Directors meeting on August 29, 2026, to consider and approve a proposal for raising funds. The company plans to evaluate various permissible modes, including rights issue or preferential issue of equity shares and/or other securities. The company currently has a market capitalization of approximately ₹6 Cr with negligible operational revenue in recent quarters and low promoter holding of 1.95%.
- Board meeting scheduled for Saturday, 29th August, 2026
- Meeting agenda includes considering fundraising via equity shares or other securities
- Permissible modes under evaluation include rights issue and preferential issue
- Company currently operates with a market cap of ₹6 Cr and TTM revenue of ₹0 Cr
Ishaan Infrastructures and Shelters Limited announced the resignation of Mr. Nayan Kamleshbhai Patel (DIN: 11036784) from the position of Independent Director, effective August 24, 2026, citing personal reasons and other pre-occupations. Consequently, he ceases to be a member of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee. The company currently has a market capitalization of Rs 6 Cr and reported zero revenue for recent quarters with net losses (loss of Rs 0.0462 Cr in Jun 2026).
- Resignation of Independent Director Nayan Kamleshbhai Patel effective August 24, 2026
- Cessation of membership across Audit, Nomination & Remuneration, and Stakeholders Relationship Committees
- Confirmation provided stating no other material reasons behind the resignation
Ishaan Infrastructures and Shelters Limited announced the resignation of Mr. Nayan Kamleshbhai Patel from his position as an Independent Director, effective August 24, 2026. Mr. Patel cited personal reasons and pre-occupations, confirming no other material reasons exist for his departure. Consequently, he ceases to be a member of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee. The company is a micro-cap entity with a market cap of approximately ₹6 crore and reported zero revenue across recent quarters.
- Independent Director Nayan Kamleshbhai Patel resigned effective August 24, 2026.
- Cessation affects membership in Audit, NRC, and Stakeholders Relationship committees.
- The director confirmed no other material reasons behind the resignation.
- Company reported ₹0.0 Cr revenue and net loss of ₹0.0462 Cr in Jun 2026 quarter.
Ishaan Infrastructures and Shelters Limited announced that its Secretarial Auditor, M/s. Utkarsh Shah & Co., has tendered their resignation effective August 17, 2026. The firm was originally appointed under Section 204 of the Companies Act for a five-year tenure covering FY 2025-26 to FY 2029-30. The auditor cited pre-occupation with other professional commitments as the primary reason for stepping down. The company operates at a microcap size of Rs 6 Cr with zero revenue reported in recent quarters.
- Resignation of Secretarial Auditor M/s. Utkarsh Shah & Co. effective August 17, 2026
- Early departure from an initial five-year term covering FY 2025-26 through FY 2029-30
- Reason cited as pre-occupation with other professional commitments
- Company reported Rs 0.0 Cr revenue and a net loss of Rs 0.0462 Cr in the Jun 2026 quarter
Ishaan Infrastructures and Shelters Limited announced the resignation of its Secretarial Auditor, M/s. Utkarsh Shah & Co., effective close of business on August 17, 2026. The auditor was previously appointed for a five-year term covering FY 2025-26 through FY 2029-30. The stated reason for stepping down is pre-occupation with other professional commitments. The micro-cap company currently operates with zero TTM revenue and a promoter holding of 1.95%.
- M/s. Utkarsh Shah & Co. resigned as Secretarial Auditor effective August 17, 2026
- The firm was originally appointed for a 5-year tenure spanning FY 2025-26 to FY 2029-30
- Reason cited: pre-occupation with other professional commitments requiring substantial time
- Company reported Rs 0.0 Cr revenue and a net loss of Rs 0.0462 Cr in the Jun 2026 quarter
Ms. Priyanka K Gola has resigned from her position as an Independent Director at Ishaan Infrastructures and Shelters Ltd, effective August 11, 2026. She cited pre-occupation with other professional commitments and confirmed there are no other material reasons for her departure. Consequently, she ceases to be a member of the Audit, Nomination and Remuneration, and Stakeholders Relationship Committees. This change occurs in a company currently reporting zero revenue and a net loss of ₹0.26 crore for FY26, with a very low promoter holding of 1.95%.
- Resignation of Independent Director effective from August 11, 2026
- Director held concurrent Independent Directorships in 4 other listed entities
- Company reported ₹0.0 crore revenue for the entire FY26 and TTM period
- Promoter holding remains critically low at 1.95% as of March 2026
- Net loss for FY26 stood at ₹0.26 crore compared to a loss of ₹0.06 crore in FY25
Ms. Priyanka K Gola has resigned from her position as an Independent Director at Ishaan Infrastructures and Shelters Ltd, effective August 11, 2026. The resignation is attributed to her pre-occupation with other professional commitments, and she has confirmed there are no other material reasons. This change is occurring in a company that reported zero revenue for FY26 and maintains a very low promoter holding of 1.95%. Consequently, she will also cease to be a member of the Audit, Nomination and Remuneration, and Stakeholders Relationship committees.
- Resignation of Independent Director effective from August 11, 2026
- Company reported Rs 0.0 cr revenue for the full year FY26
- Promoter holding is critically low at 1.95% as of March 2026
- Resigning director holds independent directorships in 4 other listed entities including Jyoti Resins and Adhesives Ltd
- Market capitalization of the company stands at approximately Rs 7 Cr
Financial Performance
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