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Shalimar Paint Color & Varnish Company was established in 1902 by two Britishers. It is the first paint company of India.It was acquired by Ratan Jindal faction of the O.P. Jindal Group and S. S. Jhunjhunwala group in 1989. It manufactures decorative paints and industrial coatings. Some of India’s iconic buildings and structures such as the Howrah Bridge, Rashtrapati Bhawan, etc. were painted with Shalimar paints.
Shalimar Paints promoter, Hella Infra Market Limited (HIML), has pledged an additional 80.51 Lakh equity shares in two tranches (23.04 Lakh shares on September 29 and 57.47 Lakh shares on December 04). With these latest pledges, HIML has now pledged its *entire* holding of 4.42 Crore shares in Shalimar Paints,...