Shalimar Paints Limited has informed the Exchange about Intimation of outcome of Board Meeting w.r.t. Request for re-classification from Promoter and Promoter Group Category to Public category pursuant to Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations )
SHALPAINTS · price
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Shalimar Paints' Board, at its meeting on January 13, 2026, approved the reclassification of 8 members of the Promoter Group (mostly members of the Jhunjhnuwala family and related persons) from the 'Promoter Group' category to the 'Public' category under Regulation 31A of SEBI Listing Regulations. Most of these individuals hold zero shares; only Ms. Hina Devi Goyal holds 60 shares (0.0001%). The applicants confirmed they hold less than 10% voting rights, do not exercise control, have no board representation, and are not wilful defaulters or fugitive economic offenders. Since their combined holding is under 1%, shareholder approval is not required. The reclassification is still subject to approvals from SEBI and the stock exchanges.
This is largely a procedural housekeeping change with negligible impact on shareholding, as the individuals being reclassified collectively hold only 60 shares (0.0001%). It is unlikely to affect stock price or promoter group control of the company.