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

Asian Granito India Ltd has announced a board meeting to consider the financial results for the quarter and half-year. The company has received approval from the National Company Law Tribunal (NCLT) for its Composite Scheme of Arrangement involving demergers, slump sale, and amalgamation within the Asian Granito group. The scheme aims to consolidate tile manufacturing businesses from its suppliers into wholly owned subsidiaries, integrate marble and quartz operations, and merge AGL Industries into Amazoone Ceramics, enhancing operational efficiency and growth focus. Consideration will be settled through share issuance and a slump sale payment of ₹102 Cr. The reorganization supports risk diversification, optimized production capacity, and better capital utilization. The scheme is seen as beneficial for shareholders and creditors, with all statutory compliances to be met, including ongoing tax and regulatory obligations.