Shalimar Paints Limited announced that its Board of Directors, in a meeting held on January 13, 2026, considered and approved requests from certain members of the Promoter Group seeking re-classification from the 'Promoter Group' category to the 'Public' category, as per Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board noted that the applicants confirmed they do not collectively hold more than ten percent of the total voting rights, do not exercise control over the company, and do not have special rights or board representation. They also confirmed they are not wilful defaulters or fugitive economic offenders.

Furthermore, the Board observed that shareholder approval is not required for this re-classification as the promoter group members and their related parties together hold less than one percent of the total voting rights in the company, as per Regulation 31A (3)(a)(vi) of the Listing Regulations.

The Board's approval is subject to obtaining necessary approvals and no objections from concerned regulatory authorities, including SEBI and the stock exchanges. Shalimar Paints will be making the necessary applications and submissions in due course.