Shalimar Paints Limited — Pledging, 19-12-2025: Pledge/Unpledge

Shalimar Paints promoter, Hella Infra Market Limited (HIML), has pledged an additional 80.51 Lakh equity shares in two tranches (23.04 Lakh shares on September 29 and 57.47 Lakh shares on December 04). With these latest pledges, HIML has now pledged its *entire* holding of 4.42 Crore shares in Shalimar Paints, representing 52.85% of the company's total share capital. These shares serve as collateral for ₹250 crore in Non-Convertible Debentures issued by a HIML subsidiary. Such a high level of promoter pledging, particularly 100% of a key promoter's stake, is a significant point for investors to monitor.