Shalimar Paints Issues Corrigendum for EGM Notice; Modifies Preferential Issue Details
Shalimar Paints issued a corrigendum to its EGM notice for September 11, 2026. Modifications were made to preferential issue details due to NSE observations. The cash consideration for equity shares is reduced to ₹70.57 crore. Certain individuals are removed as allottees, with replacements from Hella Infra Market Limited shareholders. The overall issue size remains unchanged.
The modifications to the preferential issue, including changes in allottees and the reduction in cash consideration for equity shares, are material information that could affect investor perception and the finalization of the fundraising exercise.
The announcement is a corrigendum to a previous notice, providing clarifications and modifications to a preferential issue. While it corrects previous inaccuracies, it does not introduce significantly positive or negative new information regarding the company's performance or future outlook.
Shalimar Paints Limited has issued a corrigendum to its Extra Ordinary General Meeting (EGM) Notice dated August 12, 2026. The corrigendum, dispatched on September 3, 2026, incorporates modifications to the resolutions and explanatory statements for items 1, 2, and 3 of the EGM Notice. These changes are pursuant to observations made by NSE and in accordance with SEBI ICDR Regulations.
Key modifications include:
Item No. 1: The total number of Equity Shares to be issued for cash consideration has been reduced to 83,03,072, with a corresponding issue size of ₹70.57 crore. This reduction is due to Pro Fin Capital Services Limited being ineligible to participate in the preferential issue.
Item No. 2: Certain names, including Shashank Dangayach, Atul Jain, Kalpesh Shridhar Baing, and Mehul Navinchand Agarwal, were inadvertently included in the allottee list for the preferential issue of equity shares for consideration other than cash. These names have been deleted, except for Ritesh Satish Kumar Rathi, who remains an allottee for equity shares but is excluded from the CCPS issuance.
Item No. 3: Pro Fin Capital Services Limited, Santosh Hybrid Seeds Company Private Limited, Shri Ram Gupta, and Mehul Navinchand Agarwal are ineligible to participate in the preferential issue due to selling company shares within the 90 trading days preceding the relevant date. They will be replaced by other shareholders of Hella Infra Market Limited (HIML). While the aggregate number of equity shares and CCPS to be issued for consideration other than cash remains unchanged, modifications have been made to the proposed allottees and their respective share swap entitlements.
The EGM is scheduled to be held on Friday, September 11, 2026, at 12:30 p.m. IST, through Video Conferencing/Other Audio-Visual Means. The corrigendum is available on the company's website and the websites of BSE and NSE.
A plain-language summary of a public exchange filing by Shalimar Paints Limited. Read the original for the full detail.