HLE Glascoat Limited has announced the completion of the distribution of proceeds from the sale of fractional shares to eligible shareholders. This action follows the Scheme of Amalgamation between HLE Glascoat Limited (Transferee Company) and Kinam Enterprise Private Limited (Transferor Company), which was sanctioned by the National Company Law Tribunal on August 14, 2025, and became effective from August 7, 2023. The Scheme involved an exchange ratio where 100 equity shares of HLE Glascoat (Rs. 2/- each) were allotted for every 559 equity shares of the Transferor Company (Rs. 10/- each). This resulted in the allotment of 2 fractional equity shares of Rs. 2/- each to eligible shareholders, which were held in trust by Mr. Achal Thakkar, the Company Secretary. In compliance with SEBI Master Circular No. SEBI/HO/CFD/POD-2/P/CIR/2023/93, these fractional shares were sold in the open market on February 25, 2026, within 90 days of their credit to the demat account on December 9, 2025. The net proceeds from the sale, amounting to ₹610.35 for the two fractional shares, have been distributed to the respective eligible shareholders on March 2, 2026. The Audit Committee and Independent Directors have certified that this distribution was conducted in accordance with the Scheme and SEBI regulations.
