Shalimar Paints reported a Q1 consolidated loss of Rs. 21.26 Cr.

Its board approved investing in Infra.Market via a preferential swap, aiming for unification.

To fund this, the company will raise up to Rs. 1,000 Cr via QIP and over Rs. 10,545 Cr through preferential allotments, increasing authorized capital to Rs. 1,000 Cr.