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Shalimar Paint Color & Varnish Company was established in 1902 by two Britishers. It is the first paint company of India.It was acquired by Ratan Jindal faction of the O.P. Jindal Group and S. S. Jhunjhunwala group in 1989. It manufactures decorative paints and industrial coatings. Some of India’s iconic buildings and structures such as the Howrah Bridge, Rashtrapati Bhawan, etc. were painted with Shalimar paints.
Shalimar Paints reported a Q1 consolidated loss of Rs. 21.26 Cr. Its board approved investing in Infra.Market via a preferential swap, aiming for unification. To fund this, the company will raise up to Rs. 1,000 Cr via QIP and over Rs. 10,545 Cr through preferential allotments, increasing authorized capital to...