Board of Shalimar Paints approves details on proposed rights issue

At meeting held on 15 December 2017

The Board of Shalimar Paints at its meeting held on 15 December 2017 has approved the following items with respect to the proposed rights issue -

The rights issue to be offered at a price of Rs 140 per share (including premium of Rs 138 per share).

Total number of rights equity shares to be issued - 3552370 equity shares.

Aggregate issue size amount up to Rs 50 crore.

Rights entitlement ratio is fixed at 6:32

Record date for rights issue is 29 December 2017

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