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.

BSE Limited and National Stock Exchange of India Limited have approved the reclassification of eight individuals from the promoter group to the public category at Shalimar Paints . The stock exchanges issued no-objection letters on August 03, 2026, finalizing a request submitted by the company on January 17, 2026. This regulatory change alters the shareholding structure classification for these specific entities, impacting how their holdings are reported under listing norms.

The reclassification is executed in compliance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Snehal Saboo, Company Secretary and Compliance Officer of Shalimar Paints Limited, confirmed the receipt of approvals from both exchanges. The company has been instructed to ensure continued compliance with subsequent disclosures regarding material events related to this reclassification.

Shareholders Reclassified

The following eight individuals were moved from the 'Promoter / Promoter Group' category to the 'Public' category:

Current Holding Status

According to Annexure A of the intimation filed with the exchanges, seven of the reclassified shareholders currently hold zero shares in the company. Hina Devi Goyal holds 60 shares, representing 0.0001% of the total equity. The remaining shareholders—Ritu Jhunjhnuwala, Surya Kumar Jhunjhnuwala, Gaurang Surya Jhunjhnuwala, Sarita Devi Jain, Shivang Jhunjhnuwala, Sarika Jhunjhnuwala, and Kusum Mittal—hold no equity stake as per the disclosed data.

Regulatory Implications

The approval from BSE Limited and the National Stock Exchange of India Limited formalizes the change in status for these stakeholders. Under Regulation 31A, such reclassifications require explicit no-objection from the exchanges after reviewing the application. The exchanges, represented by Jayshree Soni and Krishna Rathi for BSE, and Dhaval Shah for NSE, have mandated that the listed entity maintain adherence to all relevant disclosure obligations moving forward.

Copies of the no-objection letters were also communicated to National Securities Depository Limited and Central Depository Services Limited to update their records accordingly.