Ashapura Minechem Ltd. , a prominent player in the mining and mineral processing industry, recently underwent a search operation conducted by the Income Tax Department. The company has assured stakeholders that its business operations remain unaffected.

Details of the Search Operation

The search, carried out under Section 132 of the Income-Tax Act, 1961, took place at Ashapura Minechem's registered office from October 13-16, 2025. During this period, the Income Tax authorities seized certain records and electronic data for further examination. Additionally, statements from company officials were recorded as part of the proceedings.

Company's Response

Ashapura Minechem has stated that it fully cooperated with the Income Tax Department throughout the search operation. In a disclosure to the stock exchanges, the company provided the following key information:

Regulatory Compliance

The company has emphasized that the search was conducted for limited verification purposes of certain documents and records. As per the disclosure, Ashapura Minechem has not been accused of any violations or contraventions at this stage.

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Ashapura Minechem promptly informed the stock exchanges about the search operation and its outcomes.

Market Implications

While such regulatory actions can often raise concerns among investors, Ashapura Minechem's swift disclosure and assurance of uninterrupted business operations may help in maintaining stakeholder confidence. However, investors and market analysts will likely keep a close watch on any further developments or findings that may emerge from this search operation.

As the situation unfolds, it remains crucial for stakeholders to stay informed through official company communications and regulatory filings.

Ashapura Minechem Limited, a prominent player in the mining and minerals industry, has announced plans to acquire the entire stake in its step-down subsidiary, Ashapura Holdings (UAE) FZE (AHUF). This strategic move is aimed at streamlining operations and implementing internal restructuring within the organization.

Acquisition Details

The Board of Directors of Ashapura Minechem, in a meeting held on 1st October, 2025, decided to acquire the complete equity share capital of Ashapura Holdings (UAE) FZE. The acquisition involves purchasing 3,000 shares of AED 1,000 each, totaling AED 3,000,000, currently held by Ashapura Minechem (UAE) FZE (AMUF), a wholly-owned subsidiary of Ashapura Minechem Limited.

Strategic Rationale

The primary objective behind this acquisition is to streamline operations as part of the company's internal restructuring efforts and to realign its organizational structure in the United Arab Emirates. Upon completion of the transaction, Ashapura Holdings (UAE) FZE will become a direct wholly-owned subsidiary of Ashapura Minechem Limited.

Financial Implications

The acquisition is set to be completed through a cash consideration, with Ashapura Minechem acquiring the shares at face value. This move is expected to have a significant impact on the company's operations in the UAE region.

About Ashapura Holdings (UAE) FZE

Ashapura Holdings (UAE) FZE, incorporated on 2nd May, 2007 in the UAE, is primarily engaged in the business of investment of own resources and business consultancy. The company has demonstrated strong financial performance in recent years:

Regulatory Compliance

The acquisition falls under the related party transaction category, as AHUF is currently a step-down subsidiary of Ashapura Minechem Limited. The company has assured compliance with all necessary corporate legislations and regulatory approvals required for the acquisition.

Timeline and Impact

Ashapura Minechem expects to complete the acquisition within approximately two months. This strategic move is anticipated to enhance operational efficiency and strengthen the company's presence in the UAE market.

As Ashapura Minechem continues to evolve its corporate structure, this acquisition marks a significant step towards optimizing its international operations and potentially unlocking new growth opportunities in the region.