Sirca Paints India Limited , a prominent player in the Indian paints industry, has announced significant changes to its board committees and approved a substantial preferential share allotment. These developments, effective from September 11, 2025, mark important shifts in the company's governance structure and capital base.

Board Committee Reconstitution

The Board of Directors has approved the re-constitution of four key committees:

1. Audit Committee: Mr. Aman Arora takes over as Chairperson from Mr. Shyam Lal Goyal.
2. Nomination and Remuneration Committee: Mrs. Anu Chauhan retains her position as Chairperson.
3. Stakeholder Relationship Committee: Mr. Aman Arora replaces Mrs. Anu Chauhan as Chairperson.
4. Risk Management Committee: Mrs. Anu Chauhan continues as Chairperson.

These changes reflect a strategic realignment of leadership roles within the company's governance framework. Notably, Mr. Aman Arora has assumed key positions in multiple committees, indicating an expanded role in the company's oversight.

Committee Composition Changes

The reconstitution involves several membership adjustments across all committees:

These adjustments aim to leverage the diverse expertise of the board members across different aspects of corporate governance.

Preferential Share Allotment

In a separate but equally significant development, Sirca Paints India Limited's Board has approved the allotment of 19,84,000 equity shares on a preferential basis. Key details of this allotment include:

• Issue Price: ₹379.50 per share (including a premium of ₹369.50)
• Face Value: ₹10 per share
• Total Allottees: 66 investors, including non-promoter group entities

Impact on Share Capital

Following this allotment, the company's paid-up capital has increased significantly:

• Pre-Allotment: ₹54,80,88,000 (5,48,08,800 equity shares)
• Post-Allotment: ₹56,79,28,000 (5,67,92,800 equity shares)

This represents an increase of approximately 3.62% in the total number of outstanding shares.

Notable Investors

Among the 66 allottees, some significant investments include:

1. Sirca S.P.A: Allocated 2,63,500 shares, increasing their total holding to 23,63,500 shares (4.16% post-issue shareholding)
2. N-3 Shares and Stock Vision Private Limited: Newly allocated 1,31,000 shares
3. Girish Sareen: Newly allocated 1,10,050 shares

The preferential allotment has introduced new institutional and individual investors to Sirca Paints' shareholder base, potentially bringing fresh perspectives and capital to support the company's growth strategies.

These corporate actions - the committee restructuring and the preferential share allotment - underscore Sirca Paints India Limited's commitment to evolving its governance structure and strengthening its capital base. As the company moves forward with these changes, stakeholders will be keen to observe how these developments influence Sirca Paints' strategic direction and market performance in the coming months.

Sirca Paints held a successful Extraordinary General Meeting (EGM) on August 5, 2025, where shareholders gave their resounding approval for the issuance of 20,11,000 equity shares on a preferential basis to certain identified non-promoter persons.

Key Highlights of the EGM

• Strong Shareholder Participation: The EGM, conducted via video conferencing, saw the attendance of 70 shareholders, representing 3,91,66,848 shares or 80.04% of the company's capital.
• Overwhelming Support: The special resolution received near-unanimous backing, with 99.99% of votes cast in favor and only 0.01% against.
• Voting Process: The company employed both remote e-voting (from August 2-4, 2025) and e-voting during the meeting to ensure comprehensive shareholder participation.
• Independent Scrutiny: Pravesh Kumar & Associates served as the scrutinizer for the voting process, confirming the passage of the special resolution with the requisite majority.

Breakdown of Shareholder Participation

Voting Results

The special resolution for the issuance of equity shares received strong support across all shareholder categories:

Sirca Paints India Limited's management expressed satisfaction with the outcome, viewing it as a strong vote of confidence from shareholders. The approval for issuing 20.11 lakh equity shares on a preferential basis to non-promoter persons is expected to strengthen the company's capital base and support its growth initiatives.

The EGM, which commenced at 11:30 A.M. and concluded at 11:58 A.M. IST, was conducted in compliance with the applicable provisions of the Companies Act, 2013, and the latest circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India.