Asian Granito India Limited (ASIANTILES) — Board Meeting | 15 July 2026(3 announcements)

Asian Granito India Limited announced the board approved converting a $13.00 crore loan from its UAE subsidiary HSM Sharjah into 372 equity shares at AED 3,496 each, and noted HSM Sharjah's proposed fresh equity issue that will dilute the company's stake from 100% to 51%, making it a subsidiary rather than wholly owned. The transaction supports HSM Sharjah's expansion and operational funding within its ceramic and porcelain trading business.

On 15 July 2026, Asian Granito India Limited's board approved converting a loan to equity in its UAE subsidiary HSM Sharjah at AED 3,496 per share (≈₹3.38 crore) and noted a fresh equity issue that will dilute HSM Sharjah's stake from 100% to 51%, making it a subsidiary with the company retaining majority control. The acquisition supports business expansion and falls within the main line of business.

The board approved converting a $13.00 crore loan from HSM Sharjah into 372 equity shares at AED 3,496 each and accepted a fresh share issue that will dilute the subsidiary's stake from 100% to 51%, making it a subsidiary while retaining majority control. The transaction supports business expansion and operational funding within the core ceramic trading line.