Shalimar Paints Approves Fund Raise via QIP and Preferential Issue

Shalimar Paints Ltd's Board of Directors, in a meeting held on August 12, 2026, approved a significant fund-raising initiative through a Qualified Institutions Placement (QIP) of up to ₹1,000 crores. Additionally, the company greenlit a preferential issue of equity shares and Compulsory Convertible Preference Shares (CCPS) to promoters and non-promoters, aggregating to substantial amounts. The board also approved an increase in authorized share capital and discussed a potential strategic unification with Hella Infra Market Limited, which may become an unlisted material subsidiary. Mr. Kundan Sangwar was appointed as the new Chief Financial Officer.