February 12, 2022

Corporate Relationship Department Exchange Plaza, 5°" Floor, 1° Floor, New Trading Ring, Plot No. C/1, G- Block, Rotunda Building, P.J. Towers, Bandra-Kurla Complex, Dalal Street, Fort, Mumbai - 400 001 Bandra (East), Mumbai 400051 BSE Scrip Code: 509874 NSE Symbol : SHALPAINTS

BSE Limited National Stock Exchange of India Limited

Sub: Submission of Report of Monitoring Agency

Dear Sir/Madam,

Please find enclosed report of Monitoring Agency given by State Bank of India, Industrial Finance Branch, 102, Natraj, 194, Sir M.V. Road, W.E. Highway - Metro Junction, Andheri (E) Mumbai - 400069, along with the Board Comments on the same.

We request you to kindly take the same on records and acknowledge the receipt.

This is for your information and records.

Thanking You,

Yours faithfully,

For Shalimar Paints Li Chief Fina Encl: As above

Shalimar Paints Ltd. Corporate Office: 1* Floor, Plot No. 28, Sector 32, G " & HALIMAR . : : eet Dector 32, Gurugram - 122001, Haryana s ALIMA | Regd. Office: Stainless Centre, 4" Floor, Plot No. 50, Sector 32, Gurugram - 122001, Haryana. | Call: +91 124 461 6600 Fax: +91 124 461 6659 Toll Free: 1800-103-6509 ' Email Id: askus{@shalimarpaints.com Website: www.shalimarpaints.com CIN: L24222HR1902PLC065611

भारतीय स्टेट बँक भारतीय स्टेट बैंक STATE BANK OF INDIA

M/s. Shalimar Paints Ltd. Stainless Centre, 4th Floor, Sector -32, Plot No. 50, Gurgaon, Haryana-122001.

IFBA/RM-AMT-I/2021-22/213

Date: 08.02.2022

Dear Sir,

SHALIMAR PAINTS LIMITED REPORT OF MONITORING AGENCY 31.12.2021

With reference to the above, please find enclosed report of Monitoring Agency as on 31.12.2021 for the Right Issue proceeds in the prescribed format.

Yours faithfully,

Assistant General Manager & RM-I

491 22 2681 9700 +91 22 2682 3370 / 2682 1310 ₩ +91 22 2683 3001 / 2683 1648 ෙ
මූ [email protected]

ओंद्योगिक वित्त शाखा, अंधेरी, 102, नटराज, 194, सर एम.व्ही. मार्ग. प.हु. मार्ग-मेट्रो जंबशन, अंधेरी (पूर्व), मुंबई - 400 069.

ओंदोगिक वित्त शाखा, अंधेरी, 102, नटसज, 194, सर एम.व्ही. मार्ग, प.दू. मार्ग-भेट्रो जंक्शन, अंधेरी (पूर्व), मुंबई - 400 069.

Industrial Finance Branch, Andheri, 102, Natraj, 194, Sir M.V. Road, W.E. Highway-Metro Junction, Andheri (E), Mumbai - 400 069.

SCHEDULE XI - FORMAT OF REPORT TO BE SUBMITTED BY THE MONITORING AGENCY [See regulation 82(2) and 82(3)]

Name of the issuer: Shallmar Paints Limited

Report of the Monitoring Agency

For quarter ended: December 31th 2021.

Name of the Monitoring Agency: State Bank of India, Industrial Financial Branch, Andheri East, Mumbai-400069

(a) Deviation from the objects: Due to lower Subscription of 92.28% in the Rights Issue, the proceeds from the Rights Issue amounted to Rs. 20,087.24 Lakhs instead of Rs. 21,767.15 Lakhs as per the Letter of Offer. Accordingly, the amount allocated in some of the Objects has been modified. In view of additional Working Capital requirement, there is increase in the allocation of funds towards Long Term Working Capital Requirement - The major Object of the Issue. Further, the same is adjusted through reduction in estimated cost of Setting up of Paints manufacturing plant at Nashik including Regional Distribution Centre (RDC) at Nashik.

(b) Range of Deviation*: The Company received Rs. 20,087.24 Lakhs from the proceeds of the Rights Issue in view of lower subscription instead of Rs. 21,767.13 Lakhs. Accordingly, the amount allocated in some of the Objects was modified. Further, in view of additional Working Capital requirements and reduction in estimated cost of Setting up of Paints manufacturing plant at Nashik including Regional Distribution Centre (RDC) at Nashik, the utilisation for Lang Tarni Working Capital has increased by 3.31%.

Declaration:

We declare that this report is based on the format prescribed by the SEBI (ICDR) Regulations, 2018, We further declare that this report provides a true and fair view of the utilization of the issue proceeds. A Ciscita fre

We declare that we do not have any direct/indirect interest in or relationship with the issuer/promoters/ directors/management and also confirm that we do not
perceive any conflict of interest in such relationship/interest one of the Bankers to the Company and have extended Credit Facilities to it.

$\overline{1}$

Signature:

Name and designation of the Authorized Signatory: Designation of Authorized person/Signing Authority: Seal of the Monitoring Agency: Date: 08.02.2022

1) Issuer Details:

Name of the issuer: Shalimar Paints Limited Names of the promoter : Mr. Ratan Jindal and Hind Strategic Investments Industry/sector to which it belongs: Paint &

Coatings

2) Issue Details

Issue Period: December 03, 2018 to December 24, $2018$

Type of issue (public/rights) : Rights Issue
Type of specified securities : Equity Shares of the Company PO Grading, if any : Not applicable
Issue size (Rs, In Lacs) : Rs.21,767.15 Lakhs (Final

Figure of Subscription was Rs. 20,087.24 Lakhs) 3) Details of the arrangement made to ensure the

monitoring of issue proceeds: (Give item by item description for all the objects stated

in the offer document separately in following format)

Particulars	Reply	Comments of the Monitoring Agency
Whether all utilization is as per the disclosures in	Yesi	Yes#
the Offer Document?	Nο
Whether shareholder approval has been obtained	Yesi
in case of material deviations# from expenditures	No	No
disclosed in the Offer Document?
Whether the means of finance for the disclosed	Yesi	Nο
objects of the issue has changed?	Nο
Is there any major deviation observed over the	Ved	No
earlier monitoring agency reports?	No

$\bar{z}$

Whether all Government/statutory approvals	Yesi	ショマ
related to the object(s) have been obtained?	Nn
Whether all arrangements pertaining to technical	Yesi	Vec
assistance/collaboration are in operation?	No
Are there any favorable events improving the	Yes	Yes
viability of these object(s)?	Nο
Are there any unfavorable events affecting the	Yesi	No
viability of the object(s)?	No
Is there any other relevant information that may	Yesi	No
materially affect the decision making of the	Νö
investors?

However, the utilization in different heads of the Objects of the Issue had to be modified in view of lesser proceeds collected in the Rights Issue due to lower
subscription to the extent of 92.28% and as well as slightl

$\mathbf{3}$

4) Details of object(s) to be monitored:
(i) Cost of object(s)

				(Give Item by Item Description for all the Objects Stated in Offer Document separately in following format)		(Rs. In Lacs)
							Comments of the Board of Directors
Si. No	Ilem Head	Original Cost (as per the Offer Document)	Revised Cost ^*	Comments of the Monitoring Agency	Reason of cosi revision	Proposed financing option	Particulars of firm arrangements made
(a)	Project of Reinstatement of paint manufacturing plant at Nashik	5.152.13	5152.13 Revised to 5075.78 Lacs	No significant Change
2(b)	Setting up of Regional Distribution Centre (RDC) at Nashik	340.00	340 (Revised to 40.00)	The revised cost of smaller RDC would be Rs. 40. Lacs.
$\hat{z}$	Long Term Working Capital Requirements	13,500.00	12.187.80 (Further Revised to 12.564.151	In view of Lower Subscription at 92.28% in the Rights Issue, the amount allocated was reduced after allotment in the Rights Issue. Further, to meet the additional Working Capital Requirement, the allocation for Long Term Working Capital Requirements has been increased by Rs.376.35 Lakhs to Rs. 12,564,15 Lakhs
$\hat{z}$	General Corporate purposes	3,782.75	3.415.07	In view of Lower Subscription at 92.28% in the Rights Issue, the amount allocated was reduced after allotment in the Rights Issue
4	Expenses for the issue	92.00	92.60	No Change in Proposed cost
	Total	22,866.88	21,186.99

Total 22,866.88 21,186.99 21,186.99 2010 2010 21,186.99 2010 21,186.99 21,186.99 22,866.88 21,186.99 22,866.88 21,186.99 22,866.88 22,186.99 22,866.88 22,20087.26 Lakhs from Rights Issue proceeds and Rs. 1099.73 lakhs rece

$\hat{a}$

$(n)$ Progress in the object(s) -
-----------------------------------	--	--	--	--	--

			(UTVe tiert by Hem description for an the Objects stated in the Offer Document in the following format)					Ks. In Lacs)
				Amount utilized till December 31, 2021					Comments of the Board of Directors
Sr. No.	Item Head	Amount as proposed in the Offer Document $(Revised)*$	As at beginning of the quarter $\epsilon$ Including Insurance claim proceeds)	During the quarter	At the end of the quarter	Total unutilized amount	Comments of the Monitoring Agency	Reasons for idie funds	Proposed course of action
1(a)	Project of Reinstatement of paint manufacturing plant at Nashik	5152.13 Revised to 5075.78 Lacs	4.899.61	123.04	5.022.65	53.13	Utilisation as disclosed in Letter of Offer#
2(b)	Setting up of Regional Distribution Centre (RDC) at Nashik	340 (Revised to 40.00	40.00		40.00		As per the revised cost given Cost of Object(S)#
$\overline{2}$	Long Term Working Capital Requirements	12.187.80 (Further Revised to $12,564.15$	12.564.15		12.564.15	$\sim$	Modification from Rs. 13,500.00 Lakhs to Rs. 12,187.80 Lakhs ^* . Further revised to Rs. 12564.15 Lakhs
3	General Corporate purposes	3,415.07	3,415.07		3,415.07	$\blacksquare$	Modification from Rs. 3,782.75 Lakhs to Rs. 3,415.07 Lakhs.
4	Expenses for the issue.	92.00	92.00		92.00		Utilisation as disclosed in Letter of Offer
	Total	21.186.99	21.010.83	123.04	21.133.87	53.13

$\frac{1}{21,186.99}$ $\frac{21,010.83}{21,010.83}$ $\frac{1}{23.94}$ $\frac{21,135.87}{21,135.87}$

^* In view of Lower Subscription in the Rights Issue, the amount allocated to the Objects were reduced.

* As on December 31, 2021, Rs.

SProvide following details under Item Head:

(a) Name of the object(s):

(b) Brief description of the object(s):

(c) Location of the object(s) (if applicable):

(iii) Deployment of unutilised IPO proceeds:

	(iii) Deployment of unutilised IPO proceeds:					( Rs. In Lacs)
Sr. No.	Type of instrument and name of the entity invested in	Amount invested	Maturity date	Earning	(3/3)	Return on Investment Market Value as at the end of quarter*
	Balance with Bank	53.13	NA	NA	NΑ	SS 13
	Total Available balance	53.13				53.13

$\lambda$

* Where the market value is not feasible, provide NAV/NRV/Book Value of the same

${W}$ is consequently consequence that $W$				' ISS. IN LACSI
		Completion Date	Delay	Comments of the Board of Directors
Object(s)	As per the Offer Document	Actual*	(no. of days/ months)	Reason of delay	Proposed course of action
Project of Reinstatement of paint manufacturing plant at Nashik	31-03-2019	Completed in May 2019 commercial production started in August 2019	2 Month
Setting up of Regional Distribution Centre (RDC) at Nashik.		31-03-2019 Completed in March 2020	12 Month
Long Term Working Capital Requirements	31-03-2019	Completed
General Corporate purposes	31-03-2019	Completed
Expenses for the issue	31-03-2019	Completed

$\mathsf{6}$

* In case of continuing object(s), please specify latest/revised estimate of the completion date.

S.K. BADJATYA & CO. CHARTERED ACCOUNTANTS

307, D.R. Chambers 12/56, D.B. Gupta Road, Karol Bagh, New Delhi-110005 Tel.: 23612570, Telefax: 01123637458 Mobile: 9810163640 E-mail: [email protected], [email protected]

Shallmar Paints Limited, Corp. Office: 1st Floor, Plot No-28, Sector 32, Gurugram, Harvana-122001

Sub.: Certificate for utilisation of proceeds of Right Issue during quarter ending 31^st December 2021

1. We have verified the unaudited books of account and other relevant records of Shalimar Paints Limited ("Company"), as at "31^st December 2021", India in connection with its Rights Offer vide its Letter of Offer and utilization of the net issue proceeds as per the object of the Issue given in the said Letter of Offer.
1. We have verified the details of the utilization of the net issue proceeds submitted by the Company and are as per Annexure to this certificate, initialed by us for identification purposes only, based on the unaudited books of account and relevant records referred to in paragraph 1 above. We have agreed the amounts included in the Annexure with the unaudited books of account and relevant records of the Company as at 31^st December 2021. We have verified the accuracy of the Annexure. Our responsibility is to verify the factual accuracy of the facts stated in the Annexure.
We conducted our procedures in accordance with the Guidance Noto on Audit Reports and Certificates for Special Purposes issued by the Institute of Chartered Accountants of India.
1. We have performed necessary audit so as to ensure the accuracy of figures mentioned in the Annexure. We also confirm that the utilization of proceeds of the issue is in line with the section on "Objects of the Issue" mentioned in the Letter of Offer.
1. On the basis of the unaudited books of account and relevant records, information and explanations provided to us and representation from the management of the Company, we certify the utilization of the net issue proceeds as given in the accompanying Annexure.
I/We hereby declare that this report is based on the format as prescribed by SEBI Regulations. I/We further declare that this report provides true and fair view of the utilization of issue proceeds.
I/Ve declare that we do not have any direct / indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer.

JAIPUR OFFICE: A-55, Van Vihar Colony, Tonk Road, Jaipur - 302018 Tel.: (0141) 2590753

CHARTERED ACCOUNTANTS 307, D.R. Chambers 12/56, D.B. Gupta Road, Karol Bagh, New Delhi-110005

S.K. BADJATYA & CO.

Tel.: 23612570, Telefax: 01123637458 Mobile: 9810163640 E-mail: [email protected], [email protected]

This certificate is furnished solely for submission to State Bank of India (the Monitoring Agency) regarding the utilization of the net issue proceeds in terms of Clause 4.3 of the Monitoring Agency Agreement dated 1^st December 2018 between the Company and the Monitoring Agency, ("Monitoring Agency Agreement"), and is not to be used for any other purpose or to be distributed to any other parties without our prior written consent.

Capitalized terms not defined herein shall have the meaning ascribed to them in the Monitoring Agency Agreement.

For S. K. Badjatya & Co. Chartered Accountants Firm Registration Number: 004017C

(Sumeet Gupta) Partner Membership No.: 504321 UDIN: 22504321AANXLX7585

Date: 5th February 2022 Address: 307, D.R. Chambers, 12/56, D.B. Gupta Road, Karol Bagh, New Delhi-110005

Encl.: Annexure for Utilisation of Proceeds of Right Issue during quarter ended 31st December 21

JAIPUR OFFICE: A-55, Van Vihar Colony, Tonk Road, Jaipur - 302018 Tel. : (0141) 2590753

S.K. BADJATYA & CO. CHARTERED ACCOUNTANTS

307, D.R. Chambers 12/56, D.B. Gupta Road, Karol Bagh, New Delhi-110005
Tel.: 23612570, Telefax : 01123637458 Mobile : 9810163640 E-mail : [email protected], [email protected]

Annexure

Utilisation of Proceeds of Right Issue during Quarter ended 31^st December 2021

						Amount (Rs. Lakh)
18. N. articulars	f otal as OU	For Otr. endina	ForFY endina	For FY endina	ForFY 2021-22 (行任)	For Ofr. endina $131 - 12 - 2021$
		2.035.22	2.210.46	50.24	- 20.00	123.04
Setting up of Regional Distribution Centre (RDC) at Nashik			40.00
Long Term Working Capital Requirements ^b		8,709.15	3.404.70
General Corporate Purposes ^e		1.136.57	2.278.50
Expenses for the issue	26.27	26.27
Otal			7.933.65	50.24	20.00	123.04
	Project of Reinstatement of paint manufacturing plant at Nashik®		4,438,95 40.00 12.113.851 3416071 20.034.14 11.907.21	31-12-2021 31-3-2019	31-3-2020 31-03-2021

Notes:

a Utilisation includes the amounts of TDS made & deposited with the government by the company out of the payment due to Creditors in respect of Capex at the Nashik Plant.

b (i) Utilized for the purpose of investment in Current Assets (Paid Inventory and Trade Receivables) and payment of Current Liabilities during the relevant period

(ii) There is increase in utilisation of Right Issue proceeds for Long Term Capital Requirements, which is met from the available balance proceeds for Reinstatement of paint manufacturing plant at Nashik including Setting up of Regional Distribution Centre (RDC) at Nashik.

c General Corporate Purpose includes the following

Particulars			Total Mar19 Qtr. FY 2019-20 FY 2020-21
Term Loan Repayments	455.68	-39.90.1	415.981
Salaries & Wagns	930.67	967.05	963.52
Brandino Cost	550.03		550.03
Ciher Capital Expenditure	478.59	129.62	348.97
			G. Total $\mid$ 3.415.07 $\mid$ 1.136.57 $\mid$ 2.278.49

Rs. 1099.73 Lakh was received by the company as insurance claim on 14.03.2018, which was utilized as under.

Particulars	Rs. Lakh
Project of Reinstalement of paint manufacturing plant at Nashik	583.70
Long Term Working Capital Requirements	250.30
Expenses for the issue.	66.73
Total	1.099.73

For S. K. Badjatya & Co. Chartered Accountants Firm Registration Number: 0040170

{Sumeet Gupta) Partner Membership No.: 504321 UDIN: 22504321AANXLX7585 Date: 5^th February 2022

JAIPUR OFFICE: A-55, Van Vihar Colony, Tonk Road, Jaipur - 302018 Tel. ; (0141) 2590753

San Ang

en De

1) Issuer Details: Name of the issuer : Shalimar Paints Limited Names of the promoter : Mr. Ratan Jindal and Hind Strategic Investments Industry/sector to which it belongs: Paint & Coatings 2) Issue Details Issue Period : December 03, 2018 to December 24, 2018 Type of issue (public/rights) : Rights Issue Type of specified securities : Equity Shares of the Company IPO Grading, if any : Not applicable Issue size (Rs. In Lacs) : Rs.21,767.15 Lakhs (Final Figure of Subscription was Rs. 20,087.24 Lakhs) 3) Details of the arrangement made to ensure the monitoring of issue proceeds: (Give item by item description for all the objects stated in the offer document separately in following format) Particulars Reply Comments of the Comments of the . Monitoring Agency Board of Whether all utilization is as per the disclosures Yes/ Yes# Yes# in the Offer Document? No Whether shareholder approval has been | Yes/ No No obtained in case of material deviations from No

obtained in case of material deviations from	No
expenditures disclosed in the Offer Document?
Whether the means of finance for the disclosed	Yes/	No	No
objects of the issue has changed?	No
Is there any major deviation observed over the	Yes/	- No	No
earlier monitoring agency reports?	No
Whether all Government/statutory approvals	Yes/	Yes	Yes
related to the object(s) have been obtained?	No
Whether all arrangements pertaining to	Yes/	Yes	Yes
technical assistance/collaboration are in	No
operation?
Are there any favourable events improving the	Yes/	Yes	Yes
viability of these object(s)?	No
Are there any unfavourable events affecting the	Yes/	No	No
viability of the object(s)?	No
Is there any other relevant information that may	Yes/	No	No
materially affect the decision making of the	No
investors?

Directors

Shalimar Paints Ltd.

Corporate Office: 1" Floor, Plot No. 28, Sector 32, Gurugram ~ 122001, Haryana Regd. Office: Stainless Centre, 4" Floor, Plot No. 50, Sector 32, Gurugram - 122001, Haryana. Call: +91 124 461 6600 Fax: +91 124 461 6659 Toll Free: 1800-103-6509 Email Id: askus([email protected] Website: www.shalimarpaints.com CIN: L24222HR1902PLC065611

However, the utilization in different heads of the Objects of the Issue had to be modified in view of lesser proceeds collected in the Rights Issue due to lower subscription to the extent of 92.28% and as well as slightly changed requirement in various heads.
* Where material deviation may be defined to mean:
(a) Deviation in the objects or purposes for which the funds have been raised
(b) Deviation in the amount of funds actually utilized by more than 10% of the amount projected in the offer documents.

4) Details of object(s) to be monitored: (1) Cost of object(s)

				(Give Item by Item Description for all the Objects Stated in Offer Document separately in following format)		(Rs. In Lacs)
					Comments of the Board of Directors
No SI.	Item Head	(as per the Offer Original Cost Document)	Revised Cost *	Comments of the Monitoring Agency	Reason of cost revision	financing Proposed option	Particulars of arrangements made firm
I(a)	Reinstatement of plant at Nashik manufacturing Project of paint	5,152.13	5152.13 Revised to 5075.78 Lacs	No significant Change	No significant Change		No
2(b)	Centre (RDC) at Setting up of Distribution Regional Nashik	340.00	340 (Revised to 40.00)	RDC smaller of would be Rs. 40 Lacs. cost revised The	Distribution Centre (RDC) has been setup Regional Smaller	NA
	Working Capital Requirements Long Term	13,500.00	(Further Revised to 12,564.15) 12,187.80	at the reduced after Working allotment in the Rights Issue. Further, allocation Requirements has been increased by Capital 12,564.15 Subscription Issue, Working additional the Rs. Rights was Requirement, to Lower amount allocated Lakhs Term the the of in Long Rs.376.35 meet view 92.28% Capital Lakhs for In to	Subscription Issue, was the meet Requirement, the allocation for been increased by Rs.376.35 Lakhs to Capital Capital allotment in Further, to Rights allocated Working Working has Rs. 12,564.15 Lakhs view of Lower 92.28% in the additional after amount Requirements Issue. Term reduced Rights Long the the In at	NA	NA
	Corporate purposes General	3,782.75	3,415.07	at the reduced after Subscription Issue, allotment in the Rights Issue Rights was Lower amount allocated the of in view 92.28% In	Subscription Issue, was the allotment in Rights allocated view of Lower 92.28% in the after amount Rights Issue reduced the In at	NA	NA
	Expenses for the issue	92.00	92.00	No Change in Proposed cost	NA
	Total	22,866.88	21,186.99
				* Including Rs.20087.26 Lakhs from Rights Issue proceeds and Rs. 1099.73 lakhs received as Insurance claim for Nashik Plant.

		Proposed course of action	amount will be per PO and __ retention respective as
	Directors		Balance clause. paid	NA	NA	NA	NA
(Rs. In Lacs)	Comments of the Board of	Reasons for idle funds	Due to delay structural & due to Covid supply 19 in	Utilised Fully	Utilised Fully	Utilised Fully	Utilised Fully
		Monitoring Agency Comments of the	disclosed in Letter of as Utilisation Offer #	of revised Cost the given Object(S)# per cost As	Lakhs Further from 12,187.80 Rs. 12,564.15 Lakhs 13,500.00 to Modification Rs. Lakhs". revised Rs. to	from Lakhs 3,415.07 3,782.75 Modification Rs. Lakhs. Rs. to	disclosed in Letter of as Utilisation Offer
		unutilized amount Total	53.13					53.13
		At the end of the quarter	5,022.65	40.00	12,564.15	3,415.07	92.00	21,133.87
		During quarter the	123.04					123.04
	Amount utilized till December 31, 2021	As at beginning of Insurance claim the quarter (Including proceeds)	4,899.61	40.00	12,564.15	3,415.07	92.00	21,010.83
		Offer Document proposed in the Amount as (Revised)*	5152.13 Revised to 5075.78 Lacs	340 (Revised to 40.00)	12,187.80 (Further Revised to 12,564.15)	3,415.07	92.00	21,186.99
(Give item by item description for all the Objects stated in the Offer Document in the following format)		Item Head	paint manufacturing Reinstatement of plant at Nashik Project of	Regional Distribution Centre (RDC) at Setting up of Nashik	Capital Requirements Long Term Working	General Corporate purposes	Expenses for the issue	Total	* In view of Lower Subscription in the Rights Issue, the amount allocated to the Objects were reduced.
		Sr.	1(a)	2(b)

(ii) Progress in the object(s) -

As on December 31, 2021, Rs. 53.13 Lakhs are outstanding which are being paid to vendors of Project. \$Provide following details under Item Head:

(a) Name of the object(s):

(b) Brief description of the object(s):

(Rs. In Lacs)	Market Value as at the end of * quarter	53.13	53.13
	Return on Investment (%) 5	NA
	Earning	NA
	Maturity date	NA
	Amount invested :	53.13	53.13
(iii) Deployment of unutilised IPO proceeds:	Type of instrument and name of the entity invested in	Balance with Bank	Total Available balance
	No. Sr.	1

* Where the market value is not feasible, provide NAV/NRV/Book Value of the same

(iv) Delay in implementation of the object(s)				(Rs. In Lacs)
		Completion Date	Delay	Comments of the Board of Directors
Object(s) !	s per the Offer Off Document he A	Actual*	months) (no. of days/	Reason of delay	course cours d of action roposed Pr
paint of manufacturing plant at Nashik Reinstatement of Project	31-03-2019	Completed in May 2019 commercial production started in August 2019	2 Month	in delay to due construction of plant. was delay The	Reinstatement completed
Distribution Femme (RDC) ae aren of Regional Settin	31-03-2019	Completed in March 2020		plant 12Month got delayed, the construction of RDC of main construction also got delayed. Since the	NA
'Capifal 'Working Ferm: Requirements Long	31-03-2019	Completed	-	Completed	NA
General Corporate purposes	31-03-2019	Completed	-	Completed	NA
Expenses for the issue	31-03-2019	Completed	-	Completed	NA
* In case of continuing object(s), please specify latest/revised estimate of the completion date.

AI assistant

Shalimar Paints Ltd. Capital/Financing Update 2022

62395_rns_2022-02-12_fc187d9b-72ae-4988-ad23-cd0d81bf1ec7.pdf

Sub: Submission of Report of Monitoring Agency

IFBA/RM-AMT-I/2021-22/213