Shalimar Paints Ltd
Shalimar Paints Unveils Major Capital & Strategic Initiatives š
- Authorized share capital increased from Rs. 20 crores to Rs. 1,000 crores.
- Preferential issue of up to 1,24,54,608 equity shares at ā¹85 per share to raise ā¹1,05,86,41,680 from 3 non-promoter allottees.
- Preferential issue (for non-cash consideration) of up to 41,70,21,987 equity shares at ā¹85 per share to raise ā¹35,44,68,68,895 from 185 allottees.
- Preferential issue (for non-cash consideration) of up to 81,12,02,664 Compulsory Convertible Preference Shares (CCPS) at ā¹85 per share to raise ā¹68,95,22,17,869 from 196 allottees.
- Approved raising funds via Qualified Institutions Placement (QIP) of up to ā¹1,000 crores.
- Approved investment in equity shares and CCPS of Hella Infra Market Limited via a swap ratio.
- Discussed potential strategic unification with Hella Infra Market Limited at an appropriate stage.
- Appointed Mr. Kundan Sangwar as Chief Financial Officer, effective August 12, 2026.