Hella Infra Market (the parent company of Infra.Market) is planning to invest an amount of Rs 270 crore through a combination of equity and debentures in Shalimar Paints (SPL), subject to shareholders' and necessary regulatory approvals. Notably, EY (formerly Ernst & Young) acted as the exclusive financial advisor to Shalimar Paints. The move will enable Shalimar Paints to strengthen its balance sheet, enhance its product offerings, and seed newer markets.
Shalimar Paints is engaged in the manufacturing and marketing of decorative paints and industrial coatings.
