The Board of Directors of Shalimar Paints Ltd at its meeting held today which concluded at 6:00 P.M., considered and approved the Draft Letter of Offer of the Company and related documents in respect of the proposed Rights Issue not exceeding an amount of Rs. 240,00,00,000/- (Rupees Two Hundred Forty Crores Only).
The board approved proposal for re-establishment of Nashik Plant of the Company and establishment of new Regional Distribution Centre (RDC) at Nashik Plant.
The Board also approved constitution of Rights Issue Committee - 2018 in respect of proposed Rights Issue comprising of Ms. Pushpa Chowdhary Independent Director - Chairperson, Mr. Surender Kumar Executive Director - Member, Mr. Alok Perti Independent Director - Member.
Shares of SHALIMAR PAINTS LTD. was last trading in BSE at Rs.128.2 as compared to the previous close of Rs. 121.15. The total number of shares traded during the day was 77091 in over 1136 trades.
The stock hit an intraday high of Rs. 134.8 and intraday low of 122.6. The net turnover during the day was Rs. 10038853.