Asian Paints Limited has announced a dilution of its stake in joint venture company Asian White Cement Holding Limited (AWCHL) from 70% to 60%, following the allotment of sweat equity shares to its joint venture partner. The company informed stock exchanges about this development on January 16, 2026, in compliance with SEBI listing regulations.

Sweat Equity Allotment Details

The dilution occurred after AWCHL issued and allotted 12,08,891 equity shares as sweat equity to RS Holdings Limited (RS) on a non-cash basis. These shares represent 16.66% of the pre-issue paid-up share capital of AWCHL. The allotment was conducted in accordance with the Joint Venture Agreement and received approval from both the Board and shareholders.

Revised Shareholding Structure

Following the equity allotment, the shareholding pattern in AWCHL has been restructured. Asian Paints' stake has reduced from its earlier position of 70% to 60%, while RS Holdings' shareholding has increased to 27.14%. Associated Soap Stone Distributing Company Private Limited (ASD) maintains its stake at 12.86%.

Joint Venture Background

The joint venture was established to enter the white cement manufacturing and export business through a facility located in Fujairah, United Arab Emirates. The partnership involves RS Holdings Limited from UAE and Associated Soap Stone Distributing Company Private Limited from India. The manufacturing facility achieved a significant milestone when it commenced commercial production on October 12, 2025.

Regulatory Compliance

The announcement was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates disclosure of material events. The communication was signed by R J Jeyamurugan, who serves as CFO and Company Secretary of Asian Paints Limited. The company has requested stock exchanges to take this information on record as part of its ongoing disclosure obligations.

Shailesh Chimanlal Choksi HUF has submitted mandatory regulatory disclosures to stock exchanges following the demise of Mr. Shailesh Chimanlal Choksi, a member of Asian Paints Limited's promoter group. The disclosure was filed under Regulations 29(2) and 10(6) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The filing involves the transmission of shares due to the sad demise of Mr. Shailesh Chimanlal Choksi, with the HUF's Karta position now transferred to Jigish Shailesh Choksi. This represents a change in the leadership structure of the Hindu Undivided Family entity that forms part of Asian Paints' promoter group.

Share Transmission Details

The regulatory filing reveals that the HUF maintains its shareholding position in Asian Paints without any change in the number of shares held. The transmission involves 17,49,690 equity shares, representing 0.18% of the company's total share capital.

Regulatory Compliance Framework

The transaction falls under the exemption provided in Regulation 10(1)(g) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which covers transmission of shares due to death. This exemption eliminates the requirement for making an open offer to other shareholders.

The disclosure confirms that no prior intimation under Regulation 10(5) was required for this transmission, as it involves succession within the promoter group structure rather than a market acquisition.

Corporate Structure Impact

The change in Karta from Shailesh Chimanlal Choksi to Jigish Shailesh Choksi represents a succession within the HUF structure while maintaining the entity's position as part of Asian Paints' promoter group. The HUF continues to hold the same number of shares with unchanged voting rights and no encumbrances.

The filing was submitted to both BSE Limited and National Stock Exchange of India Limited, where Asian Paints shares are listed under the symbol ASIANPAINT (BSE code: 500820). The company's registered office was also notified of the transmission as part of the regulatory compliance process.

Regulatory Documentation

The comprehensive disclosure includes detailed shareholding patterns before and after the transmission, confirming transparency in the promoter group structure changes. The filing demonstrates adherence to SEBI's substantial acquisition regulations while facilitating the orderly succession of shareholding within the promoter family structure.