Shalimar Paints Board Approves Capital Increase & Fund Raising

Shalimar Paints Ltd announced that its Board of Directors, in a meeting held on August 12, 2026, approved a significant increase in the company's authorized share capital. The authorized capital will be raised from Rs. 20 crore to Rs. 600 crore, with an additional Rs. 400 crore for Non-Cumulative Non-Participating Compulsory Convertible Preference Shares (CCPS). The board also approved multiple fund-raising initiatives, including a preferential issue of equity shares aggregating to approximately ₹105.86 crore to non-promoters and another preferential issue for approximately ₹3,544.69 crore to promoters and non-promoters. Additionally, a preferential issue of CCPS amounting to approximately ₹6,895.22 crore was approved. The company also plans to raise up to ₹1,000 crore through Qualified Institutions Placement and discussed investment in Hella Infra Market Limited, potentially leading to its becoming an unlisted material subsidiary. The board also approved the notice for the Annual General Meeting and Extraordinary General Meeting.