Asian Granito India Limited — Updates, 20-06-2025: Scheme of Arrangement

Asian Granito India Ltd. has announced a board meeting to discuss and approve a Composite Scheme of Arrangement involving itself, Adicon Ceramica Tiles Pvt. Ltd. (Demerged Company), and Adicon Ceramics Ltd. (Resulting Company No.2). The scheme entails the demerger and transfer of tile manufacturing operations from Adicon Ceramica Tiles Pvt. Ltd. to Adicon Ceramics Ltd., a wholly owned subsidiary of Asian Granito. Consideration will be paid via share issuance by Asian Granito to shareholders of the Demerged Company. This restructuring aims to integrate manufacturing, optimize working capital, achieve economies of scale, and strengthen competitive positioning in the tiles business. The scheme has received NCLT approval to convene meetings of shareholders and creditors for their consent.