SHALIMAR

PAINTS

April 13, 2022

BSE Limited

Corporate Relationship Department, 1Floor, New Trading Ring,

Rotunda Building, P.J. Towers,

Dalal Street, Fort, Mumbai - 400 001 BSE Scrip Code: 509874

National Stock Exchange of India Ltd Exchange Plaza, 5" Floor,

Plot No. C/1, G- Block

Bandra Kurla Complex, Bandra (E), Mumbai - 400051

NSE Symbol : SHALPAINTS

Sub:

Intimation of allotment of 1,14,94,252 warrants under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI Listing Regulations")

Ref.: In-principle approval(s) granted by the

Regulations

Dear Sir/Madam,

We wish to inform you that in furtherance to

Stock Exchange(s) under Regulation 28 of the SEBI Listing

the approval of the shareholders granted at the Extraordinary General

Meeting of the Company held on March 31, 2022, the Sub-Committee of the Board of Directors of Shalimar Paints Limited (the "Company") at its meeting held today i.e. on Wednesday, April 13, 2022, approved the allotment of 1,14,94,252 (One Crore Fourteen Lakh Ninety Four Thousand Two Hundred and Fifty Two) warrants, each carrying a right to subscribe to 1 (one) fully paid up equity share of the Company having a face value of Rs. 2/- (Rupees Two

only) ("Equity Share'), at a price of Rs. 130.50 (Rupees One Hundred Thirty and Fifty Paise only) each, by way

a preferential issue on

SI. No. | Name

a private placement basis, for cash consideration to the following entities:

of allottee

  • 1. Virtuous Tradecorp Private Limited, a member of the of the Company

  • 2. JSL Limited, a member of the promoter group

No. of warrants allotted

promoter group 30,65,134

of the Company 26,81,992

3.

Hella Infra Market Private Limited, an existing shareholder of the 57,47,126 Company which is disclosed as a public shareholder

Total

1,14,94,252

As per the terms of issue, an amount equivalent to 25% of the consideration shall be payable at the

of

time of

subscription and allotment of each of the warrants, and the balance 75% of the consideration shall be payable at the

time of allotment of Equity Shares pursuant to exercise of right attached to the warrants to subscribe to the

Shares.

The amount paid against warrants shall be adjusted / set-off against the issue price for the resultant Equity

Shares. Further, the right attached to

during the period commencing from the allotment of warrants until the expiry of the date of allotment.

Equity

the warrants date of

may be exercised by the warrant holders, in one or more tranches, 18 (eighteen) months from

The Company has received the upfront payment of Rs. 37,49,99,971.50 (Rupees Thirty Seven Crore Forty Nine Lakh Ninety Nine Thousand Nine Hundred Seventy One and Fifty Paise only) which is equivalent to 25% of total consideration as per the terms of preferential issue.

1

|

Shalimar Paints Ltd.

| Corporate Office: 1* Floor, Plot No. 28, Sector 32, Gurugram

}

Ss

HALIMAR

||

| Call: +91 124 461 6600 Fax:

Regd. Office: Stainless Centre,+91

~ 122001, Haryana

5 4" Floor, . PlotNo0.. 50, 90, S Sector 32, Gurugr; am

124 461 6659 Toll Free: 180-103-6509

- 122001, Haryana.

| Email Id:askusi@shalimarpaints.com Website: www.shalimarpaints.com CIN: L24222HR1902PLC065611

"

Since the Company has allotted warrants, presently there is no change in the paid-up equity share capital of the Company.

The detailed disclosure as required under Regulation 30 of the SEBI Listing Regulations read with SEBI circular dated September 9, 2015, bearing reference no. CIR/CFD/CMD/4/2015 ("SEBI Circular'), is provided in 'Annexure A'.

We request you to kindly bring the above information to the notice of your members.

Thanking you,

Yours Sincerely,

a

%

Shikha Rastogi Company Secretary Encl.: As above

Annexure A

The details relating to issuance / allotment of warrants as required under Regulation 30 of SEBI Listing Regulations read with SEBI Circular are as under:

S. No.

Particulars

Type of issued

securities proposed to be

Type

of issuance

Total

number

of - securities

proposed to be issued or the total amount for which the securities will be issued (approximately)

Warrants carrying a right to subscribe to 1 (one) Equity Share per warrant.

Preferential allotment on a private placement basis in accordance with the provisions of the Companies Act, 2013 and the rules made thereunder and SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("ICDR Regulations') and other applicable laws.

(a) 30,65,134 warrants to Virtuous Tradecorp

price of Rs. 130.50 (Rupees One Hundred Thirty and Fifty Paise

only) per warrant, aggregating to Rs. 39,99,99,987

Thirty Nine Crore Ninety Nine Lakh Ninety Nine Thousand Nine Hundred and Eighty Seven only).

(b)

26,81,992

(Rupees One Hundred

aggregating to Rs. 34,99,99,956

Ninety Nine Lakhs Ninety Nine Thousand Nine Hundred and Fifty Six only).

(c) Private Limited, at a price of Rs. 130.50 (Rupees One Hundred Thirty and Fifty Paise | only) per warrant, aggregating to Rs. 74,99,99,943 (Rupees Seventy Four Crore Ninety Nine Lakhs Ninety Nine Thousand Nine Hundred and Forty Three only).

57,47,126 warrants to Hella Infra Market

The price of the warrants has been determined in accordance with

the

ICDR

consideration has been received at the time of subscription and

allotment

of

and

the balance 75%

shall

at

the time

of

Equity

Shares pursuant

to

the

be payable exercise of

e

Equity

Shares.

issue:

Virtuous

Tradecorp

group

company;

the warrants allotment of rights attached to the warrants to subscribe to the

Additional information in case of preferential

Name of the Investor

Description

Private Limited, at a

(Rupees

warrants to

JSL

Rs.

130.50

Thirty

only)

per

warrant,

Thirty

at a price of

Limited,

and Fifty Paise

(Rupees

Regulations.

An

amount

equivalent

Private Limited, a promoter

  • e JSL Limited, a promoter group company; and

  • e Hella Infra Market Private Limited.

Four Crore

to 25%

of the

(ii)

outcome

Post

allotment

of

the

of

securities - subscription,

issue price / allotted price (in case

of

convertibles),

The warrants have been allotted to the

aforesaid investors. The

details of warrants, prior to and after as under:

number

the preferential allotment, are

of

investors

Name of the allottee

Virtuous

Tradecorp

Private Limited JSL Limited

Hella Infra

Market

Private Limited

Pre-preferential allotment

Post preferential allotment

No. warrants

of | %

No. warrants

of | %

0

0

30,65,134 NA

0 0

  • 0 26,81,992 | NA

0

57,47,126 | NA

For details relating to price and number of investors, please refer to points 3 and 4(i) above.

(iii) In case of convertibles - intimation The tenure of the warrants shall not exceed 18 (eighteen) months

on conversion of securities or onlapse

of

the

tenure

of

the

instrument;

Any cancellation or termination of proposal for issuance of securities including reasons thereof.

from the date of allotment. Each 1 (one) Equity Share per warrant,

warrant

which

one

or

date

of

carries a right to subscribe may be exercised in

more tranches during the period commencing

from the

allotment of warrants until the expiry of 18 (eighteen) months from the date of allotment of the warrants.

Not applicable

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Shalimar Paints Ltd. published this content on 13 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 April 2022 12:14:08 UTC.