Asahi India Glass has successfully completed the divestment of its subsidiary's stake in Under Par Sports Technologies Private Limited. AIS Consumer Glass Solutions Limited finalized the sale of its complete 34% stake on March 30, 2026, following the board approval granted on March 24, 2026. The transaction, valued at ₹9.05 lakhs, has been executed in compliance with SEBI LODR Regulations.

Official Regulatory Filing and Compliance

The company submitted an official intimation to both NSE and BSE on March 30, 2026, confirming the completion of the divestment transaction. Executive Director, General Counsel & Company Secretary Gopal Ganatra signed the regulatory filing under reference number 102339/S/O/L-1/2025-26. The transaction has been structured in full compliance with Regulation 30 of SEBI LODR Regulations, 2015, and follows the SEBI Master Circular guidelines.

Transaction Completion Details

The divestment involved the sale of 1,70,000 equity shares with a face value of ₹10 each. The company confirmed through its regulatory filing that Under Par Sports Technologies Private Limited has ceased to be an associate company of AIS Consumer Glass Solutions Limited and is no longer an indirect associate of Asahi India Glass with effect from March 30, 2026.

Buyer Information and Arm's Length Transaction

The entire stake was acquired by Mr. Anitya Chand and Mr. Karanpreet Bindra, who do not belong to the promoter group or group companies of Asahi India Glass. This ensures the transaction qualifies as an arm's length deal with external parties. The company confirmed in its official filing that no changes were made to the information or disclosures provided in the original intimation dated March 24, 2026.

Financial Impact and Strategic Rationale

The financial contribution of Under Par Sports Technologies Private Limited to Asahi India Glass has been minimal, justifying the strategic divestment decision. This divestment represents part of Asahi India Glass's portfolio optimization strategy, focusing on divesting from non-core assets with minimal financial contribution.

Asahi India Glass Limited has announced a significant addition to its Board of Directors with the appointment of Mr. Takahiro Tokuda as Additional Independent Director. The appointment was approved by the company's Board of Directors through a resolution by circulation, based on the recommendation of the Nomination and Remuneration Committee.

Appointment Details

The key parameters of Mr. Tokuda's appointment are outlined below:

Professional Background

Mr. Takahiro Tokuda, aged 56 years, brings extensive corporate experience to the Board. He holds a bachelor's degree in agriculture from University of Tokyo, Japan, and has been associated with Mitsubishi Corporation, Japan since April 1992. Currently serving as Division C.O.O. of the Healthcare Division at Mitsubishi Corporation, he has accumulated over 30 years of valuable experience within the organization.

Key Leadership Roles

Throughout his career at Mitsubishi Corporation, Mr. Tokuda has held several important positions:

• Current Role: Division C.O.O., Healthcare Division, Mitsubishi Corporation
• Previous Positions: General Manager of Bio-Fine Chemicals Department
• Executive Role: Executive Vice President at Mitsubishi Corporation Life Sciences Ltd., a leading food ingredients manufacturer in Japan
• Board Experience: Served on boards of multiple companies across diverse industries and countries
• Current Directorship: Non-Executive Director on the Board of Deccan Fine Chemicals (India) Private Limited

Compliance and Independence

The company has confirmed that Mr. Tokuda meets all regulatory requirements for the appointment. He has provided his consent to the proposal and confirmed that he satisfies the criteria of 'Independence' under the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, he has not been debarred from holding the office as a Director by SEBI or any other regulatory authority.

The company has also verified that Mr. Tokuda is not related to any existing Director of Asahi India Glass Limited and is not disqualified from being appointed as Director under applicable regulations. This appointment reflects the company's commitment to strengthening its Board with experienced professionals who can contribute to its strategic growth and governance.