Asian Granito India Limited — Others, 06-08-2025: Statement of deviation(s) or variation(s) under Reg. 32

Asian Granito India has reported deviations in the utilization of Rs. 440.96 Cr raised via its 2022 Rights Issue. The company, with shareholder approval from March 2023, changed some original capital expenditure plans for subsidiaries like AGL Surfaces and a display center at Morbi. A portion of funds originally for working capital was also reallocated. Importantly, Rs. 69.00 Cr has been utilized for a new display center cum office in Ahmedabad, primarily as a security deposit for land, with construction yet to commence. This update provides clarity on the actual deployment of the Rights Issue proceeds.