Asian Granito India has successfully completed the acquisition of a 26% stake in Allomex Steel, making it an associate company. This strategic investment marks a significant expansion of the company's business portfolio beyond its traditional ceramic products segment.

Strategic Acquisition Details

The completion of this stake purchase establishes a formal business relationship between Asian Granito India and Allomex Steel. With a 26% ownership stake, Allomex Steel now qualifies as an associate company under accounting standards, which typically require ownership of 20% or more for associate company classification.

Business Diversification Strategy

This acquisition represents Asian Granito India's strategic move to diversify its business operations beyond ceramic products. The investment in Allomex Steel provides the company with exposure to the steel industry, potentially creating synergies and new growth opportunities across different industrial sectors.

Associate Company Framework

Under the associate company structure, Asian Granito India will have significant influence over Allomex Steel's operations while maintaining its independent business operations. This relationship allows for strategic collaboration and potential operational synergies between the two companies while preserving their distinct business identities.

Mukeshbhai J. Patel, Managing Director and Promoter of Asian Granito India Limited, has acquired 3,00,000 equity shares of the company through open market purchase on December 23, 2025. The transaction was disclosed to BSE Limited and National Stock Exchange of India Limited under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

The acquisition represents a strategic increase in the promoter group's stake in the ceramic products company. The following table summarizes the key transaction parameters:

Shareholding Pattern Changes

The acquisition has resulted in a notable change in the promoter group's shareholding pattern in Asian Granito India Limited:

Promoter Group Structure

Mukeshbhai J. Patel operates as part of a promoter group that includes several related entities and individuals. The detailed shareholding breakdown shows the distribution among various promoter group members:

Company Capital Structure

Asian Granito India Limited's share capital structure remains unchanged following this transaction. The company's total share capital stands at ₹231.91 crores, divided into 23,19,11,649 equity shares of ₹10.00 face value each. The company's shares are listed on both BSE Limited (scrip code: 532888) and National Stock Exchange of India Limited (symbol: ASIANTILES).

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations governing substantial acquisition of shares and takeovers. The transaction was communicated to both stock exchanges where the company's shares are listed, ensuring full transparency and regulatory adherence. The acquisition falls within the normal course of promoter investment activities and does not trigger any additional disclosure requirements under the takeover regulations.