Asian Granito India Limited has informed the Exchange regarding allotment of 64563636 securities pursuant to Scheme of Arrangement/Amalgamation at its meeting held on March 05, 2026
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Asian Granito India Limited has allotted 6,45,63,636 equity shares (face value Rs. 10 each) to shareholders of Adicon Ceramica Tiles Private Limited under a Composite Scheme of Arrangement sanctioned by the NCLT Ahmedabad Bench (order pronounced February 17, 2026). The scheme involves Asian Granito (Resulting Company 1), Adicon Ceramica Tiles (Demerged Company), and Adicon Ceramics Limited (Resulting Company 2). As a result, the paid-up equity capital has risen from Rs. 231.91 crore (23.19 crore shares) to Rs. 296.48 crore (29.65 crore shares), a dilution of roughly 28%. The new shares will rank equally with existing shares and are proposed to be listed on BSE and NSE. The record date for identifying eligible shareholders of Adicon Ceramica Tiles was set as March 5, 2026.
Shareholders should expect a near-term dilution of around 28% in their holding due to the new share issuance, but this is accompanied by the consolidation of Adicon Ceramica Tiles' business into Asian Granito, which could support future revenue and earnings growth. The newly issued shares will start trading alongside existing shares, potentially impacting short-term price action.