EGM Details

The Extraordinary General Meeting was held on Friday, September 11, 2026, at 12:30 p.m. IST through video conference. The total voting capital of the Company as on the cut-off date (September 4, 2026) was ₹16,74,22,356 consisting of 8,37,11,178 equity shares of ₹2 each.

Resolutions Approved

Item No. 1: Special Resolution - Preferential Allotment for Cash Consideration
  • Issue, offer and allot up to 83,03,072 equity shares on preferential basis for cash consideration
  • Promoter & Promoter Group: 100% in favor (62,713,076 votes)
  • Public Institutions: 100% in favor (1,215 votes)
  • Public Non-Institutions: 81.15% in favor, 18.85% against (1,155,214 vs 268,336 votes)
  • Overall: 99.58% in favor, 0.42% against (63,869,505 vs 268,336 votes)
  • 162 members voted in favor, 30 members voted against
Item No. 2: Special Resolution - Preferential Allotment for Non-Cash Consideration
  • Issue, offer and allot up to 41,70,21,987 equity shares on preferential basis for consideration other than cash
  • Promoter & Promoter Group: 100% in favor (62,713,076 votes)
  • Public Institutions: 100% in favor (1,215 votes)
  • Public Non-Institutions: 70.67% in favor, 29.33% against (1,006,034 vs 417,516 votes)
  • Overall: 99.35% in favor, 0.65% against (63,720,325 vs 417,516 votes)
  • 161 members voted in favor, 31 members voted against
Item No. 3: Special Resolution - Compulsory Convertible Preference Shares
  • Issue, offer and allot up to 81,12,02,664 compulsory convertible preference shares (CCPS) on preferential basis for consideration other than cash
  • Voting pattern identical to Item No. 2 resolution
  • 161 members voted in favor, 31 members voted against
Item No. 4: Special Resolution - Qualified Institutions Placement
  • Approval to raise capital by way of Qualified Institutions Placement (QIP) through issuance of equity shares for amount aggregating up to ₹1,000 crores in one or more tranches
  • Promoter & Promoter Group: 100% in favor (62,713,076 votes)
  • Public Institutions: 100% in favor (1,215 votes)
  • Public Non-Institutions: 81.21% in favor, 18.79% against (1,156,002 vs 267,548 votes)
  • Overall: 99.58% in favor, 0.42% against (63,870,293 vs 267,548 votes)
  • 164 members voted in favor, 28 members voted against

Voting Process

Remote e-voting was conducted through National Securities Depository Limited from September 7, 2026 (9:00 AM IST) to September 10, 2026 (5:00 PM IST). E-voting during the EGM was also available for members who had not voted remotely. The scrutinizer was Ankush Agarwal, Partner of M/s. MAKS & Co., Practicing Company Secretaries.

Documentation

The voting results along with the Scrutinizer's Report are available on the company's website (www.shalimarpaints.com) and NSDL's website (www.evoting.nsdl.com).

Financial Impact

Capital raising initiatives approved aggregate to significant equity dilution through:

  • 83,03,072 equity shares for cash consideration
  • 41,70,21,987 equity shares for non-cash consideration
  • 81,12,02,664 compulsory convertible preference shares
  • Up to ₹1,000 crores through QIP issuance