Shalimar Paints' Board to consider raising funds next week

Shalimar Paints today said its Board will meet next week to consider various options for fund raising including issue of further shares on rights basis.

"A meeting of Board of Directors of the company will be held on Friday, April 7, 2017 to consider various options for fund raising including issue of further shares on rights basis (Rights Offer)," Shalimar Paints said in a BSE filing.

The company, however, did not elaborate on the quantum and purpose of raising funds.

Shares of the company were trading 1.69 per cent lower at Rs 166 apiece on BSE.