The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Catalyst Trusteeship Ltd
SHALPAINTS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.9 pts less than Nifty Microcap 250 and 0.2 pts less than its Paints peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Catalyst Trusteeship Ltd, acting as Debenture Trustee on behalf of debenture holders, has disclosed additional pledge of shares of Shalimar Paints Limited under SEBI SAST Regulation 29(2). The encumbrance increased by 80,50,747 shares (9.62% of paid-up capital), split into two tranches: 57,47,126 shares (6.87%) re-pledged on December 4, 2025, and 23,03,621 shares (2.75%) pledged on September 29, 2025. Total encumbered shares have risen from 3,61,92,174 (43.23%) to 4,42,42,921 shares, now representing 52.85% of the company's share capital, crossing the 50% threshold. The acquirer is not part of the promoter/promoter group. The 2.75% tranche relates to additional security for NCDs issued by a Hella group company.
More than half of Shalimar Paints' equity is now pledged with a debenture trustee, signalling significant financial leverage and encumbrance on company shares. While this is a disclosure of additional collateral rather than a change in ownership, it raises concerns about the debt load and could weigh on the stock due to perceived financial stress or restructuring risk.