HLE Glascoat Limited has successfully commissioned its captive power generation facility on March 13, 2026, marking a significant milestone in the company's sustainability initiatives. The facility comprises both solar and wind power components, designed to optimize energy costs and ensure reliable power supply for the company's operations.

Power Generation Capacity

The captive power facility includes dual renewable energy sources to maximize power generation efficiency:

Project Implementation

The company has established this facility through Clean Max Anchorage Private Limited, demonstrating its commitment to renewable energy adoption. The project represents a strategic move towards energy independence and cost optimization for HLE Glascoat's manufacturing operations.

Financial and Operational Impact

According to the company's regulatory filing, the commissioning of this captive power generation facility is expected to deliver several operational benefits:

• Optimization of energy costs for manufacturing operations
• Ensuring sustainable and reliable power supply
• Enhanced energy security for business continuity

The company has indicated that there are no material financial implications at this stage of the project commissioning.

Regulatory Compliance

This development follows the company's initial intimation dated November 11, 2024, and subsequent communications regarding the project progress. The announcement has been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders and regulatory authorities.

The commissioning of this renewable energy facility positions HLE Glascoat Limited to benefit from sustainable power generation while potentially reducing long-term operational costs through clean energy adoption.

HLE Glascoat Limited has successfully completed the distribution of proceeds from fractional shares arising from its amalgamation with Kinam Enterprise Private Limited. The company's Audit Committee and Independent Directors have certified full compliance with SEBI regulations regarding the handling and distribution of fractional share proceeds to eligible shareholders.

Amalgamation Background

The scheme of amalgamation between Kinam Enterprise Private Limited (Transferor Company) and HLE Glascoat Limited (Transferee Company) received approval and sanction from the Hon'ble National Company Law Tribunal, Ahmedabad Bench on August 14, 2025. The scheme became effective from the appointed date of August 7, 2023, following completion of specified conditions.

Under the amalgamation terms, eligible equity shareholders of the Transferor Company received equity shares in the share exchange ratio of 100 fully paid-up equity shares of ₹2 each of HLE Glascoat Limited for every 559 fully paid equity shares of ₹10 each of Kinam Enterprise Private Limited.

Share Allotment Details

The company allotted 11,89,259 fully paid-up equity shares of ₹2 each to eligible shareholders of the Transferor Company, which included 2 fractional shares. Mr. Achal Thakkar, Company Secretary, was appointed as trustee to hold the fractional shares in trust on behalf of eligible equity shareholders.

Fractional Share Sale and Distribution

In compliance with SEBI Master Circular No. SEBI/HO/CFD/POD-2/P/CIR/2023/93 dated June 20, 2023, the fractional shares were sold in the open market within the prescribed 90-day period. The sale was executed on February 25, 2026, and proceeds were distributed on March 2, 2026.

Regulatory Compliance Certification

Both the Audit Committee and Independent Directors have provided separate certification reports confirming that the company has properly compensated eligible equity shareholders by distributing sale proceeds of fractional entitlements in accordance with the scheme provisions and SEBI Master Circular requirements.

The Audit Committee, chaired by Yatish Parekh and comprising members Sandeep Randery, Jayesh Shah, and Aalap Patel, certified the distribution process. Similarly, the Independent Directors including Yatish Parekh, Sandeep Randery, Jayesh Shah, and Vijayanti Punjabi provided their certification on March 3, 2026.

The newly allotted equity shares rank pari-passu in all respects with existing fully paid-up equity shares of HLE Glascoat Limited, ensuring equal rights and privileges for all shareholders post-amalgamation.