Shalimar Paints Ltd allots 1,79,16,667 shares, 30,55,556 OCDs

The Board of Directors of Shalimar Paints Ltd, at its meeting held on February 24, 2022, has approved the allotment of 1,79,16,667 (One Crore Seventy Nine Lakh Sixteen Thousand Six Hundred and Sixty Seven) equity shares of face value of Rs. 2/- (Rupees Two) each ("Investor Shares") fully paid-up, for cash at an issue price of Rs. 120/- (Rupees One Hundred and Twenty only) per Investor Share (including premium of Rs. 118/- per Equity Share), by way of preferential allotment on a private placement basis to Hella Infra Market Private Limited, not being a part of the promoter or promoter group of the Company.

Consequent to the above allotment, the paid-up equity share capital of the Company stands increased from Rs. 10,86,00,518 (Rupees Ten Crore Eighty Six Lakh Five Hundred and Eighteen) divided into 5,43,00,259 (Five Crore Forty Three Lakh Two Hundred Fifty Nine) equity shares of face value of Rs. 2/- (Rupees Two) each to Rs. 14,44,33,852 (Rupees Fourteen Crore Forty Four Lakh Thirty Three Thousand Eight Hundred and Fifty Two) divided into 7,22,16,926 (Seven Crore Twenty Two Lakh Sixteen Thousand Nine Hundred and Twenty Six) equity shares of face value of Rs. 2/- each.

The board also approved the allotment of 30,55,556 (Thirty Lakh Fifty Five Thousand Five Hundred and Fifty Six), 9% optionally convertible debentures ("OCDs") having face value of Rs. 180/- (Rupees One Hundred and Eighty only), for cash at a price of Rs. 180/- (Rupees One Hundred and Eighty only) per OCD by way of preferential allotment on private placement basis to Hella Infra Market Private Limited, not being a part of the promoter or promoter group of the Company. Since the Company has allotted OCDs, there is no change in the paid up equity share capital of the Company.

Shares of Shalimar Paints Limited was last trading in BSE at Rs. 119.60 as compared to the previous close of Rs. 130.10. The total number of shares traded during the day was 49077 in over 1055 trades.

The stock hit an intraday high of Rs. 126.50 and intraday low of 118.15. The net turnover during the day was Rs. 5994755.00.

Source : Equity Bulls

Keywords

ShalimarPaints INE849C01026 EquityShares OCDs