- Shalimar Paints approved investment in Hella Infra Market via share-swap deal
- Swap ratio for share exchange will be based on company valuation reports
- Hella Infra Market may become an unlisted material subsidiary of Shalimar Paints
Shalimar Paints has approved an investment in the equity shares and compulsorily convertible preference shares (CCPS) of Hella Infra Market Limited through a share-swap arrangement, with the swap ratio to be determined based on valuation reports of both companies.
Following the transaction, Hella Infra Market may become an unlisted material subsidiary of Shalimar Paints.
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The board also evaluated a strategic option to maximise synergies between Shalimar Paints and Hella Infra Market, including the possibility of unifying the two entities at an appropriate stage, subject to applicable laws and requisite approvals.
Shalimar Paints Q1
Shalimar Paints reported a decline in revenue from operations to Rs 137.72 crore in Q1FY27, compared with Rs 154.56 crore in the year-ago quarter.
The company's net loss widened to Rs 21.26 crore in Q1FY27, from a net loss of Rs 16.77 crore in Q1FY26.
Shalimar Paints Share Price Today
Shalimar Paints shares were buzzing in trade on Thursday, with the stock hitting a 5% upper circuit at Rs 87.68 per share.
At 12:47 pm, Shalimar Paints shares were locked in a 5% upper circuit at Rs 87.68, while the BSE Sensex was trading flat at 77,963.99 levels.
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