Shalimar Paints Limited has formally appointed Mr. Kundan Sangwar as Chief Financial Officer (CFO), designating him as Key Managerial Personnel. The Board of Directors approved the appointment in its meeting held on August 12, 2026. This resolution updates the company’s authorization framework for determining the materiality of events or information under Regulation 30(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Authorization Update

The company notified stock exchanges of the change in authorized personnel responsible for disclosing material information. Mr. Kuldip Raina, Managing Director and Chief Executive Officer, retains his authorization. Mr. Kundan Sangwar joins him in this capacity, reflecting his new role as CFO. Ms. Snehal Saboo, Company Secretary and Compliance Officer, also remains an authorized signatory for these disclosures.

Capital Raise Plans

To support expansion into the building materials sector, the company previously approved an investment in Hella Infra Market Limited. The Board sanctioned a preferential allotment of up to 12,454,608 equity shares at ₹85 per share, aggregating to ₹1,058.6 crore. This cash infusion targets non-promoter allottees and requires shareholder approval at an Extraordinary General Meeting (EGM).

Additionally, the company approved a Qualified Institutional Placement (QIP) of up to ₹1,000 crore. The proceeds from these capital raises are intended to provide immediate growth capital and reinforce the enlarged company’s access to public markets.

Share Capital Restructuring

The authorized share capital will increase significantly to facilitate these transactions. The current limit of ₹20 crore is proposed to be raised to ₹1,000 crore. This new structure comprises 300 crore equity shares and 200 crore Non-Cumulative Non-Participating CCPS, each with a face value of ₹2. The CCPS carry a nominal coupon rate of 0.001%.

The board also approved preferential issues for consideration other than cash, involving substantial equity and CCPS allotments to promoters and non-promoters as part of the broader restructuring and investment framework.

Shalimar Adhunik Nirman Limited, a subsidiary of Shalimar Paints , has entered into an agreement to sell its property in Gurugram for ₹50 crore. The buyer is Sparton Growth Comtrade Private Limited, an unrelated entity. This asset monetisation move adds liquidity to the group’s balance sheet without impacting core operations, as the subsidiary contributed nil income in FY26.

Transaction Details

The agreement was signed on August 05, 2026, with completion expected by November 20, 2026. The consideration will be paid in tranches on or before the registration of the sale deed. The transaction does not fall under related party transactions or Scheme of Arrangement provisions under Regulation 37A of the SEBI Listing Regulations.

Financial Impact

As per audited financial statements for the year ended March 31, 2026, Shalimar Adhunik Nirman Limited reported nil income. Its net worth stood at ₹1,473.52 lakh, contributing 6.20% to the parent company’s net worth. The sale proceeds will strengthen the subsidiary’s financial position and potentially benefit Shalimar Paints’ overall capital structure.

No further details regarding the specific nature of the property or additional terms have been disclosed beyond the regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.