Shalimar Paints Limited
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.
What Shalimar files
- Others72
- Important17
- Board Meeting12
- Updates10
- Credit Ratings4
- QIP/Rights/Pref.4
Shalimar Paints updated key personnel authorized to disclose material company events. CFO Kundan Sangwar now joins MD & CEO Kuldip Raina and Company Secretary Snehal Saboo in this critical internal governance role.
Shalimar Paints' subsidiary, Shalimar Adhunik Nirman Limited (Networth ₹14.74 Cr), is selling its Gurugram property for ₹50 Cr. This non-related party transaction will provide a significant cash influx to the subsidiary.
The company has applied to stock exchanges to reclassify certain individuals from the promoter group to the public shareholder category. This move, previously approved by the board, involves minor shareholdings and awaits exchange approval.
Company's board approved re-classification of certain promoter group members to the public category. This move, requiring no shareholder approval due to their small stake, meets regulatory criteria and awaits final approvals.
Shalimar Paints received requests for reclassification from promoter group to public category from several individuals, including Ms. Hena Devi Goyal (60 shares). This minor ownership shift awaits Board and exchange approval.