Shalimar Paints Opens QIP With 80.87 Rupees Floor Price

Shalimar Paints Limited opened its qualified institutions placement, or QIP, on November 13, 2026, at a floor price of 80.87 rupees per equity share. Shalimar Paints may offer qualified institutional buyers a discount of up to 5% from that price, while the final issue price, share count and fundraising amount remain undisclosed.

Why did Shalimar Paints open a QIP on November 13, 2026?

Shalimar Paints opened the QIP after its QIP Committee approved the issue’s opening at its November 13, 2026 meeting. The committee also approved the preliminary placement document and application form dated November 13, which are intended to invite bids and receive subscription amounts from qualified institutional buyers.

The November 13 action followed board approval on August 12, 2026, and shareholder approval through a special resolution at an extraordinary general meeting on September 11, 2026. The filing does not state the amount Shalimar Paints seeks to raise, the number of equity shares proposed, or the intended use of proceeds.

The approvals progressed from the board on August 12 to shareholders on September 11 and the QIP launch on November 13, 2026. This announcement covers the opening and pricing framework rather than an allotment, and does not disclose completed bids or issued shares.

What is Shalimar Paints’ QIP floor price?

Shalimar Paints set the floor price at 80.87 rupees per equity share on November 13, 2026. The proposed equity shares have a face value of 2 rupees each, while the floor price was calculated under Regulation 176 of the Securities and Exchange Board of India, or SEBI, Issue of Capital and Disclosure Requirements Regulations, 2018.

Shalimar Paints fixed November 13, 2026, as the relevant date under Regulation 171 of the SEBI regulations. The company said the 80.87-rupee price was calculated using the pricing formula prescribed under Regulation 176(1), linking the price to that relevant date.

The 80.87-rupee floor price is not the disclosed final issue price. Shalimar Paints has not said whether it will apply a discount, what institutions will pay, or how many shares it will issue through the QIP.

Can Shalimar Paints offer QIP shares below 80.87 rupees?

Shalimar Paints may offer a discount of no more than 5% on the 80.87-rupee floor price under Regulation 176(1). The November 13, 2026, filing gives the company discretion to use that discount but does not confirm that any discount will be offered.

The distinction between the floor price and final issue price matters because the filing identifies only the formula-derived 80.87-rupee figure. Shalimar Paints has not disclosed a final subscription price, the number of shares, gross proceeds or resulting equity dilution.

The preliminary placement document and application form approved on November 13 are the materials through which qualified institutional buyers can submit bids and application amounts. Shalimar Paints said it would file the preliminary placement document with BSE Limited and National Stock Exchange of India Limited on November 13, 2026.

What happens after Shalimar Paints opens its QIP?

Shalimar Paints said its November 13, 2026, preliminary placement document would also be available on its website. The filing identifies that document as the mechanism for inviting qualified institutional buyers to participate, but it does not disclose a QIP closing date or allotment timetable.

Shalimar Paints closed the trading window for designated persons from November 13, 2026, until 48 hours after determination of the issue price. The restriction operates under the company’s code of conduct to regulate, monitor and report trading by insiders, making the final price determination the stated trigger for reopening.

The QIP Committee meeting began at 4:30 p.m. and concluded at 6:45 p.m. on November 13, 2026. Shalimar Paints identified its BSE scrip code as 509874 and its National Stock Exchange symbol as SHALPAINTS in the disclosure.

Conclusion

Shalimar Paints has moved its equity-fundraising process from approvals on August 12 and September 11, 2026, to an open QIP on November 13. The disclosed 80.87-rupee floor price and possible discount of up to 5% establish the pricing framework, but not the final commercial terms or proceeds.

The next disclosed event to watch is determination of the QIP issue price, after which the designated-person trading window remains closed for 48 hours. Shalimar Paints has not disclosed a closing date, final price, allotment date, share count or fundraising amount in this announcement.