Shalimar Paints Limited — Others, 10-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Shalimar Paints Limited has announced a board meeting to review the utilization of funds raised through the preferential issue of 1,14,94,252 warrants. As of December 31, 2024, the company confirmed that all Rs. 149.99 crore raised had been fully utilized for strengthening the balance sheet and supporting growth. There was no deviation in the use of these funds. This update reflects strong financial management and could foster a positive outlook among investors, reinforcing confidence in the company's strategic direction and operational integrity.