Shalimar Paints Ltd. — M&A Activity 2024

Feb 6, 2024

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February 06, 2024

BSE Limited

Corporate Relationship Department, 1st Floor, New Trading Ring, Rotunda Building, P.J. Towers, Dalal Street, Fort, Mumbai - 400 001 BSE Scrip Code: 509874

National Stock Exchange of India Ltd. Exchange Plaza, 5[th] Floor, Plot No. C/1, G- Block Bandra Kurla Complex, Bandra (E), Mumbai – 400051 NSE Symbol : SHALPAINTS

Sub: Submission of Announcement and Corrigendum to the Letter of Offer - Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Re: Open Offer to the eligible shareholders of Shalimar Paints Limited for acquisition of Equity Shares under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto

Dear Sir/Madam,

With reference to the captioned subject, we would like to inform you that we are in receipt of the enclosed Announcement and Corrigendum to the Letter of Offer (“Third Announcement and Corrigendum”) issued by Swastika Investmart Ltd. on behalf of Hella Infra Market Private Limited (“Acquirer”), in relation to the open offer to the eligible shareholders of Shalimar Paints Limited.

In relation to the captioned offer, the copy of the Third Announcement and Corrigendum which appeared on February 06, 2024 in all editions of Financial Express (English), all editions of Jansatta (Hindi), Mumbai edition of Pratahkal (Marathi) and Ahmedabad edition of Financial Express (Gujarati) is enclosed herewith.

We would like to further inform you that the enclosed Third Announcement and Corrigendum should be read in continuation of, and in conjunction with the (a) public announcement dated September 27, 2023; (b) detailed public statement dated September 29, 2023 and published on September 30, 2023; (c) announcement dated October 13, 2023 issued in terms of Regulation 18(5) of the SEBI (SAST) Regulations and published on October 14, 2023; (d) announcement dated December 07, 2023 issued in terms of Regulation 18(5) of the SEBI (SAST) Regulations and published on December 08, 2023; and (e) the letter of offer dated January 30, 2024.

You are requested to kindly take the above information on record. Thanking you,

Yours faithfully,

For Shalimar Paints Limited

SHIKHA Digitally signed by SHIKHA RASTOGI RASTOGI Date: 2024.02.06 13:14:39 +05'30'

Shikha Rastogi

Company Secretary & Head - Legal

Encl: as above

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Date: February 06, 2024

To, The Board of Directors Shalimar Paints Limited Stainless Centre, 4[th] Floor, Plot No. 50, Sector 32, Gurugram (HR) - 122001

Dear Sir/Madam,

• Re: Open offer for acquisition of up to 2,17,64,907 (Two Crore Seventeen Lakh Sixty Four Thousand Nine Hundred and Seven only) fully paid-up equity shares of Shalimar Paints Limited (“Target Company”) of face value of INR 2/- (Indian Rupees Two only) each (“Equity Shares”), representing 26.00% the Expanded Voting Share Capital from the Eligible Shareholders of the Target Company by Hella Infra Market Private Limited (“Acquirer”) in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended (“SEBI (SAST) Regulations”) (“Offer”/ “Open Offer”).

In reference to the captioned Open Offer and in compliance with Regulation 18(5) and other applicable provisions of the SEBI (SAST) Regulations, please find enclosed the Third Announcement and Corrigendum to the Letter of Offer (“ Third Announcement and Corrigendum ”) which has been published on February 06, 2024 in the following newspapers in which the DPS was published:

• Financial Express – English (All Editions)

• Jansatta – Hindi (All Editions)

• Pratahkal – Marathi (Mumbai Edition)

• Financial Express – Gujarati (Ahmedabad Edition)

All capitalized terms used but not defined shall have the same meaning as assigned to such terms in the Letter of Offer dated January 30, 2024.

We request you to kindly take the Third Announcement and Corrigendum on record.

Yours faithfully,

Swastika Investmart Limited,

Sunil Digitally signed by Sunil Nyati Date: 2024.02.06 Nyati 11:32:25 +05'30' Sunil Nyati, Chairman and Managing Director DIN: 00015963

Enclose: As above

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