Opelina Sustainable Services Private Limited has completed the sale of its entire equity stake in shalimar paints Limited, filing the requisite disclosure with stock exchanges on February 19, 2026. The transaction represents a complete divestment of the company's holding in the paint manufacturer.

Transaction Details

The sale involved 500 equity shares of Shalimar Paints Limited, executed through open market transactions on February 17, 2026. Following the completion of this sale, Opelina Sustainable Services' shareholding in Shalimar Paints has been reduced to zero.

Regulatory Compliance

The disclosure was made under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Opelina Sustainable Services filed the necessary documentation with both BSE Limited and National Stock Exchange of India Limited, where Shalimar Paints shares are listed.

Company Information

Opelina Sustainable Services Private Limited, registered in Raigarh, Chattisgarh, operates as part of the promoter group of Shalimar Paints Limited. The disclosure was signed by Kailash Chand Jain, Wholetime Director & CFO of Opelina Sustainable Services.

Shalimar Paints Capital Structure

Shalimar Paints Limited maintains an equity share capital of Rs. 8,37,11,178, comprising 8,37,11,178 equity shares of Rs. 2.00 each. The company's shares are traded on BSE Limited under scrip code 509874 and on National Stock Exchange under the symbol SHALPAINTS.

Promoter Group Holdings

The promoter group of Shalimar Paints includes various individuals, HUFs, and corporate entities. Major promoter group companies include Hella Infra Market Limited holding 52.85% and Virtuous Tradecorp Private Limited holding 12.62% of the total share capital as of February 13, 2026.

Shalimar Paints Limited has successfully concluded its postal ballot process for the reappointment of Ms. Shan Jain as an Independent Director, with shareholders demonstrating overwhelming support for the resolution. The company announced the results on February 09, 2026, following the completion of the remote e-voting process.

Voting Results and Shareholder Participation

The postal ballot resolution received exceptional support from shareholders across all categories. Out of 6,24,70,609 total valid votes cast, 6,24,36,324 votes were in favor of Ms. Shan Jain's reappointment, representing 99.945% approval. Only 34,285 votes were cast against the resolution, accounting for 0.055% of the total votes.

The voting process achieved a participation rate of 74.626% of the company's total voting capital, with 179 shareholders participating in the e-voting process.

E-Voting Process Details

The remote e-voting process was conducted exclusively through electronic means in compliance with the Companies Act, 2013, and SEBI regulations. The voting period commenced on January 08, 2026, at 9:00 AM IST and concluded on February 06, 2026, at 5:00 PM IST through the CDSL e-voting platform at www.evotingindia.com .

Regulatory Compliance and Scrutinizer Report

Mr. Ankush Agarwal, Partner of MAKS & Co. Company Secretaries (COP: 14486), served as the appointed scrutinizer for the postal ballot process. In his report dated February 09, 2026, he confirmed that the entire process was conducted in a fair and transparent manner, adhering to all applicable regulatory requirements including Section 108 and 110 of the Companies Act, 2013, and Regulation 44 of the SEBI Listing Regulations.

The scrutinizer verified that shareholders holding shares as on the cut-off date of January 02, 2026, were entitled to vote on the resolution. The company dispatched the postal ballot notice via email to all eligible shareholders on January 06, 2026, and published advertisements in Financial Express and Jansatta on January 07, 2026.

About the Resolution

The special resolution pertained to the reappointment of Ms. Shan Jain (DIN: 09661574) as an Independent Director of the company. The resolution was classified as a special resolution requiring approval from shareholders as per the provisions of the Companies Act, 2013, and the company's governance framework.

The voting results and scrutinizer's report have been made available on the company's website at www.shalimarpaints.com and on the CDSL e-voting portal at www.evotingindia.com for shareholder reference and regulatory compliance.