Shalimar Paints Limited (SHALPAINTS) — Board Meeting | 19 August 2026(2 announcements)

Shalimar Paints corrected its August 12 board meeting outcome, fixing a calculation error in fund-raising amounts and revising share allotment details across three annexures. The revised proposal raises up to 81.12 million compulsorily convertible preference shares at ₹85 per share, aggregating ₹6,895.22 crores. Corrections adjust allotments for specific investors like Silverline Homes and remove certain entries, while maintaining total share counts. The filing confirms no change to meeting dates or other terms.

Shalimar Paints Limited announced an EGM on September 11, 2026, to vote on two preferential share issues: one for up to 1.25 crore equity shares at ₹85/share (₹105.86 crore total) and another for up to 81.12 crore CCPS at ₹85/share ([amount not verified]billion total) to acquire a 26.81% stake in Hella Infra Market Limited. The Board also seeks approval for a potential ₹1,000 crore QIP to raise capital from QIBs. Funds from the CCPS issue will finance working capital and general corporate needs within 90 days, with proceeds held in non-eroding instruments. Valuation reports confirm the ₹85/share price exceeds the regulatory minimum of [amount not verified]Shareholder voting will occur via NSDL e-Voting from September 7-10, 2026, with remote participation only.