HLE Glascoat allots shares after amalgamation scheme approval

HLE Glascoat Limited's board of directors, at a meeting on September 27, 2025, approved the allotment of 1,189,259 fully-paid equity shares of ₹2 each. This allotment follows the scheme of amalgamation with Kinam Enterprise Private Limited, distributing shares to eligible shareholders of the transferor company. The exchange ratio was 100 equity shares of ₹2 each in HLE Glascoat for every 559 fully paid-up equity shares of ₹10 each in Kinam Enterprise.

Post-allotment, HLE Glascoat's paid-up equity share capital has increased to ₹138,909,478, comprising 69,454,739 equity shares of ₹2 each. These newly allotted shares will rank pari-passu with existing equity shares and will be listed and traded on BSE Limited and the National Stock Exchange of India Limited.

The allotment also included 2 fully paid-up equity shares for fractional entitlements, managed by a trustee for market disposal. The company will apply for listing of the allotted equity shares, which will remain frozen until trading permission is granted by the stock exchanges.