Asian Granito India Limited has informed the Exchange regarding Board meeting held on July 02, 2025.
ASIANTILES · price
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On the reaction day the stock moved 0.2 pts more than Nifty Microcap 250 and 1.9 pts less than its Ceramics peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board of Asian Granito India Limited, at its meeting on July 2, 2025, approved the allotment of 8,48,66,333 equity shares of Rs. 10 each under a Composite Scheme of Arrangement involving multiple group entities (Affil Vitrified, Ivanta Ceramics, Crystal Ceramic, Amazoone Ceramics, AGL Industries, and others). The record date for identifying eligible shareholders of the three demerged companies was fixed as July 2, 2025. As a result, the company's paid-up equity capital rose from Rs. 147.05 crore (14.70 crore shares) to Rs. 231.91 crore (23.19 crore shares), an increase of roughly 58%. Additionally, AGL Industries (Transferor Company) stands dissolved from July 1, 2025, and Amazoone Ceramics issued 11,95,741 Optionally Convertible Preference Shares. Powergrace Industries is now a step-subsidiary via Amazoone Ceramics. The newly allotted shares will be listed on BSE and NSE.
Existing shareholders will see dilution as the share count jumps by ~58%, but the allotment is part of a group restructuring that consolidates the demerged ceramic businesses into the listed entity, potentially expanding the company's scale. The new shares will be credited to demat accounts and become tradable, which may create short-term supply pressure on listing.