Asian Granito India to acquire 26% stake in Allomex Steel

Asian Granito India Limited's board of directors approved the acquisition of 26% of the paid-up equity share capital of Allomex Steel Private Limited (ASPL) on December 3, 2025. This strategic move aims to diversify Asian Granito India's presence within the building materials sector, leveraging ASPL's SS steel manufacturing activities to enhance its existing project customer base and supply chain network.

The acquisition involves 2,600 equity shares at a price of INR 10 per share, totaling INR 26,000. ASPL, incorporated on August 27, 2025, has a paid-up equity share capital of INR 100,000 and has reported NIL turnover for its last three financial years due to its recent establishment. The transaction is identified as a related-party transaction due to the involvement of common directors, but it has received prior approval from the audit committee and is being undertaken at arm's length. The acquisition is expected to be completed within two months.