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.