Shalimar Paints Receives Reclassification Requests from Two Promoter Group Members

Shalimar Paints Limited has announced the receipt of reclassification requests from two members of its Promoter Group. The company disclosed this information in a regulatory filing dated November 20, 2025, in compliance with SEBI regulations.

Reclassification Requests

Ms. Sarika Jhunjhnuwala and Ms. Kusum Mittal, currently classified under the 'Promoter Group' category, have submitted requests to be reclassified to the 'Public' category. This move comes after both individuals have completely divested their shareholdings in the company.

Current Shareholding Status

The regulatory filing provides details of the current shareholding status of the individuals seeking reclassification:

Sr. No.	Name of Shareholder	Category	No. of Shares held	% of shares held
1	Ms. Sarika Jhunjhnuwala	Promoter Group	0	0
2	Ms. Kusum Mittal	Promoter Group	0	0

Regulatory Process

The reclassification process is subject to several regulatory steps:

Approval from the Board of Directors of Shalimar Paints Limited
Approval from both stock exchanges where the company's shares are listed:
- BSE Limited (BSE)
- National Stock Exchange of India Limited (NSE)

Shalimar Paints has stated that it will follow the necessary regulatory processes as mandated by the Securities and Exchange Board of India (SEBI) under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This development may potentially impact the company's shareholding structure, subject to the required approvals. Investors and market participants are advised to monitor further announcements from the company regarding the progress of these reclassification requests.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.14%	-3.01%	-16.53%	-34.09%	-38.84%	-11.68%

Shalimar Paints has announced that three members of its promoter group have requested reclassification from the 'Promoter and Promoter Group' category to the 'Public' category. This move comes after these individuals have completely divested their shareholdings in the company.

Reclassification Request Details

The company has received requests under Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 from the following individuals:

Sr. No.	Name of Shareholder	Current Category
1	Ms. Ritu Jhunjhnuwala	Promoter Group
2	Mr. Surya Kumar Jhunjhnuwala	Promoter Group
3	Mr. Gaurang Surya Jhunjhnuwala	Promoter Group

As evident from the table, all three individuals currently hold zero shares in the company, which forms the basis of their reclassification request.

Regulatory Process

The reclassification process is subject to several regulatory steps:

Approval from the Board of Directors of Shalimar Paints
Approval from the stock exchanges where the company is listed

The company has stated that it will follow all necessary regulatory processes as mandated by SEBI regulations to facilitate this reclassification.

Implications

This move could potentially alter the shareholding structure of Shalimar Paints. However, it's important to note that the reclassification, if approved, would only change the category under which these individuals are listed and does not involve any transfer of shares, as they currently hold no shares in the company.

Investors and market participants are advised to monitor further announcements from the company regarding the progress of this reclassification request.