Shalimar Paints Ltd. — Capital/Financing Update 2020

Feb 5, 2020

February 5, 2020

BSE Limited Corporate Relationship Department, I st Floor, New Trading Ring, Rotunda Building, P.J. Towers, Dalal Street, Fort, Mumbai - 400 001 National Stock Exchange of India Ltd Exchange Plaza, 5thFloor, Plot No. C/1, G- Block Bandra Kurla Complex, Bandra (E), Mumbai - 400051

Reference: Scrip Code - NSE-SHALPAINTS, BSE-509874

Subject: Submission of undertaking in respect to Regulation 32 of the SEBI ( Listing Obligation and Disclosure Requirements) Regulation, 2015 ("SEBI Listing Regulations")

Dear Sir(s),

Please find attached undertaking in respect of deviation/ variation in utilization proceeds under Regulation 32(1) of SEBI Listing Regulations.

This is for your information and record.

For Shalimar Paints Limited

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Ashish Kumar Bagri Chief Financial Officer

Encl: a/a

UNDERTAKING

I, Ashish Kumar Bagri- Chief Financial Officer of Shalimar Paints Limited having its registered office at Stainless Centre, Plot No. 50, Sector-32, Gurugram, Haryana - 122001 do hereby undertake that there is no major deviation/variation in utilisation proceeds under Regulation 32 (1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Further, in view of lower subscription in the Rights Issue, the amount allocated to the Objects i.e., Long Term Working Capital and General Corporate Purpose has been reduced.

For Shalimar Paints Limited

JP··

Ashish Kumar Bagri Chief Financial Officer