Catalyst Trusteeship increases pledged shares in Shalimar Paints

Catalyst Trusteeship Limited has disclosed an increase in pledged equity shares of Shalimar Paints Limited, acting as a debenture trustee on behalf of debenture holders. As of December 8, 2025, Catalyst Trusteeship holds 44,242,921 shares, representing 52.85% of the total share/voting capital and 52.38% of the total diluted share/voting capital of Shalimar Paints. This disclosure follows Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The acquisition primarily involves shares in the nature of encumbrance (pledge). Before the latest acquisition, Catalyst Trusteeship held 36,192,174 pledged shares, accounting for 43.23% of the total share/voting capital and 42.85% of the total diluted share/voting capital. The recent increase includes 5,747,126 shares pledged on December 4, 2025, and 2,303,621 shares pledged on September 29, 2025.

The total equity share capital of Shalimar Paints Limited remains INR 16,74,22,356, divided into 83,711,178 equity shares of INR 2 each. The 2,303,621 shares, representing 2.75% of the total paid-up capital, were initially security for NCDs issued by a group company and will now serve as additional security for the stated NCD issuance.