Subsidiary Restructuring: Loan to Equity and Stake Dilution at HSM Sharjah
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Asian Granito's board approved converting about 3.38 crore rupee loan into 372 equity shares of UAE subsidiary HSM Sharjah, retaining 100 percent holding. Separately, HSM Sharjah will issue fresh equity to third-party investors, diluting Asian Granito's stake from 100 percent to 51 percent. HSM Sharjah will cease to be a wholly-owned subsidiary but remain a subsidiary with majority control. HSM Sharjah contributed 77.52 crore rupees (4.17 percent) to consolidated revenue in FY26.
Subsidiary restructuring to raise expansion funds for HSM Sharjah. Minor revenue contribution (4.17 percent) limits financial impact, but majority control retained.