Shalimar Paints Limited submitted a revised disclosure to BSE Limited and National Stock Exchange of India Limited correcting errors in its original filing dated August 12, 2026 regarding the outcome of the Board Meeting held on that date.

Key Corrections Made

1. Aggregate Consideration Amount Correction:

  • Original amount: ₹68,95,22,17,869 (Rupees Six Thousand Eight Hundred Ninety Five crores Twenty Two Lakhs Seventeen Thousand Eight Hundred Sixty Nine Only)
  • Corrected amount: ₹68,95,22,26,440 (Rupees Six Thousand Eight Hundred Ninety Five crores Twenty Two Lakhs Twenty Six Thousand Four Hundred Forty Only)

2. Annexure II - Equity Shares Corrections:

The following allottee entries were corrected in the equity share allocation table:

  • Silverline Homes Pvt Ltd: Post-preferential shares revised from 1,50,73,850 to 1,74,12,346 (4.18% holding)
  • Dharmayug Investments Limited: Post-preferential shares revised from 21,05,962 to 22,16,670 (0.53% holding)
  • Shashank Dangayach: Entry completely removed (was 23,90,279 shares)
  • Kavadiya Dixit Shankarbhai: Post-preferential shares revised from 11,13,571 to 11,20,065 (0.21% holding)
  • Mehul Navinchand Agarwal: Entry completely removed (was 65,419 shares)

3. Annexure III - CCPS Corrections:

The following allottee entries were corrected in the CCPS allocation table:

  • Atul Jain: Entry completely removed (was 72,967 CCPS)
  • Aum Ramchandra Kadam: Post-preferential CCPS revised from 65,419 to 2,51,609 (0.03% holding)
  • Girish Pahilajrai Rupani: Post-preferential CCPS revised from 25,161 to 88,063 (0.01% holding)
  • Kalpesh Shridhar Baing: Entry completely removed (was 2,517 CCPS)
  • Ritesh Satish Kumar Rathi: Entry completely removed (was 1,08,192 CCPS)
  • Sanjay Jain: Original entry of 1,68,579 CCPS split into two separate entries - 1,28,321 CCPS (0.01%) and new entry 40,258 CCPS (0.00%)
  • Santosh Hybrid Seeds Company Pvt Ltd: Post-preferential CCPS revised from 1,10,708 to 88,063 (0.01% holding)
  • Silverline Homes Private Limited: Post-preferential CCPS revised from 4,95,99,532 to 4,95,56,761 (6.11% holding)
  • Vipin Mungia: Pre-preferential holding corrected from 0 to 5 shares

Preferential Issue Details

The Board approved raising funds through issuance of up to 81,12,02,664 Compulsorily Convertible Preference Shares (CCPS) of face value ₹2 each at a premium of ₹83 per equity share, resulting in an issue price of ₹85 per equity share. The total issue size remains ₹68,95,22,26,440.

The issuance is to be made on a preferential basis to Promoters and Non-Promoter Allottees in accordance with Chapter V of the SEBI ICDR Regulations, 2018, subject to shareholder approval.

Impact Notes

  • The aggregate number of Equity Shares and CCPS proposed to be issued under Annexure II and Annexure III respectively remains unchanged despite the individual allocation corrections
  • The net difference arising from the corrections has been adjusted in the revised annexures
  • All other terms and conditions of the original filing remain unchanged
  • The date and time of the Board Meeting (August 12, 2026) remains unchanged