Shalimar Paints Limited's Board of Directors has approved the reclassification of eight promoter group members from 'Promoter Group' category to 'Public' category during its meeting held on January 13, 2026. The decision comes following formal request letters received from the promoter group members between November 17, 2025, and November 28, 2025, seeking reclassification under Regulation 31A of the Listing Regulations, 2015.

Board Decision and Regulatory Compliance

The board meeting, which commenced at 11:00 a.m. and concluded at 11:55 a.m. on January 13, 2026, involved detailed consideration and analysis of the reclassification requests. The board determined that the promoter group members met the conditions specified in Regulation 31A of the Listing Regulations, 2015. However, the approval remains subject to receipt of necessary approvals and/or no objections from concerned regulatory authorities including SEBI and stock exchanges.

Promoter Group Members Seeking Reclassification

The following table details the eight promoter group members seeking reclassification along with their current shareholding positions:

Shareholding Analysis

Among the eight promoter group members seeking reclassification, seven members currently hold zero shares in the company. Only Ms. Hina Devi Goyal holds 60 shares, representing a minimal 0.0001% of the total shareholding. This minimal shareholding pattern among the promoter group members likely contributed to the board's decision to approve their reclassification request.

Next Steps and Regulatory Process

The reclassification approval is contingent upon receiving necessary regulatory clearances. Shalimar Paints will now await approvals and/or no objection certificates from SEBI and the relevant stock exchanges before the reclassification becomes effective. The company has informed both BSE Limited and National Stock Exchange of India Limited about the board's decision through official communication dated January 13, 2026.

This corporate restructuring move reflects the company's compliance with regulatory frameworks while optimizing its shareholding structure. The reclassification, once approved by regulatory authorities, will formally move these eight individuals from the promoter group category to the public shareholder category.

Shalimar Paints Limited has successfully completed the dispatch of its postal ballot notice seeking shareholder approval for the re-appointment of Ms. Shan Jain as an Independent Director. The company has now published the public notice in newspapers and confirmed all regulatory compliance requirements have been met for the upcoming e-voting process.

Postal Ballot Dispatch Completion

The company has fulfilled its regulatory obligations under Regulation 30 and 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The postal ballot notice was dispatched electronically to all eligible shareholders on January 6, 2026, and the public notice was published in newspapers on January 7, 2026.

E-voting Schedule and Process

The remote e-voting process will be conducted exclusively through Central Depository Services (India) Limited (CDSL) platform. No physical ballot forms will be issued, ensuring a completely digital voting experience for shareholders.

Director Re-appointment Details

The Board seeks approval for Ms. Shan Jain's re-appointment for a three-year term as an Independent Director. Her current term expires on February 12, 2026, and the proposed second term would commence immediately thereafter.

Professional Background and Current Roles

Ms. Shan Jain brings over 33 years of experience in marketing and brand consulting to the Board. She currently serves as founder of Bridge to Ocean 29, partnering with promoters, founders, and CMOs of B2B and B2C companies to drive brand-led business transformation and optimize marketing investments.

Her advisory portfolio encompasses both funded startups and established businesses across industrials, manufacturing, food, construction, and retail sectors. She holds board positions at Infra.Market (Hella Infra Market Limited) and Carrier Airconditioning & Refrigeration Limited.

Regulatory Compliance and Voting Access

The postal ballot notice has been sent electronically to all members whose email addresses are registered with the Company or Depositories as on the cut-off date of January 2, 2026. Members can vote through the CDSL e-voting platform at www.evotingindia.com using their demat account credentials or registered folio numbers.

The results will be announced within two working days from the conclusion of e-voting, and the resolution, if passed by requisite majority, shall be deemed to have been passed on February 6, 2026. The company has confirmed that Ms. Jain is not related to other Directors and is not debarred from holding directorship by any regulatory authority.